Director/PDMR Shareholding

RNS Number : 1581E

Pittards PLC

01 April 2011

 



PITTARDS PLC

(AIM: PTD)

Director / PDMR Shareholding

Pittards plc ("Pittards" or "the Company"), the specialist producer of technically advanced leather and luxury leather goods for sale to retailers, manufacturers and distributors, has been informed that on 30 March 2011 Chamberlain Plastics Limited, a company in which Stephen Boyd, Chairman is deemed beneficially to be interested, sold 500,000 ordinary shares of 1p each in the Company and on 31 March sold 1.5 million shares, all at a price of 3.875 p per share. 

The sales were undertaken in response to continued market demand following the release of the Company's preliminary announcement of results for the year ended 31 December 2010.

Chamberlain Plastics continues to own 3,666,667 shares and Stephen Boyd additionally owns 11 million shares in Pittards, representing approximately 3.5 per cent in aggregate of the issued share capital. In addition, Stephen Boyd today has exercised options to subscribe for 5million shares in Pittards at a price of 1.65p per share. Accordingly and subject to admission to AIM of the new ordinary shares, Stephen Boyd is deemed to be interested in 19,666,667 ordinary shares in Pittards, representing 4.46 per cent of the enlarged issued share capital.

The Company has also advised that Reg Hankey, Chief Executive, has exercised 500,000 share options taking his holding to 6,781,719 shares (1.54%), Jill Williams, Finance Director, has exercised 350,000 share options taking her holding to 1,1171,315 shares (0.27%) and Louise Cretton, non-executive director, has exercised 300,000 share options increasing her holding to 600,000 shares (0.14%).

Together with exercises of share options by other members of management, a total of 7,913,332 new ordinary shares will be issued. Application has been made for the new ordinary shares to be admitted to AIM and it is expected that dealings will commence with effect from 8 April 2011.

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following admission of the new ordinary shares its issued share capital will consist of 441,049,460 Ordinary Shares.  The Company does not hold any shares in treasury.  Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules

Contacts:
Pittards plc	www.pittards.com
Jill Williams, Finance Director	[phone]
WH Ireland Limited	www.wh-ireland.co.uk
John Wakefield / Marc Davies	[phone]

 

END

 

 

RDSUGUCCCUPGGWG