Director/PDMR Shareholding and Issue of Equity

RNS Number : 5182T

Redcentric PLC

24 November 2021

 

Redcentric plc

Director/PDMR Shareholding, Exercise of Options, Issue of Equity and Total Voting Rights

Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT managed services provider, announces that a bonus issue of ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") has been made to each of the executive directors of the Company as set out below for over achievement against bonus targets in respect of the financial year ending 31 March 2021 (the "Share Issue"):

-  117,111 Ordinary Shares have been issued to Peter Brotherton, Chief Executive Officer of the Company; and

-  62,459 Ordinary Shares have been issued to David Senior, Chief Financial Officer of the Company.

The Company further announces that on 23 November 2021 it received notification of exercise from each of Peter Brotherton and David Senior in relation to nil-cost share options ("Options") over ordinary shares of 0.1p each in the Company ("Ordinary Shares"), pursuant to the Company's 2017 Long Term Incentive Plan (the "Exercise"), as follows:

-  Peter Brotherton exercised 298,879 Options. Following the Exercise and Share Issue, Mr Brotherton sold 205,990 Ordinary Shares at a price of 124.0609   pence per Ordinary Share on 23 November 2021, in order to cover the tax and national insurance liability associated with the Exercise and Share Issue. Following the Exercise and the sale of shares, Mr Brotherton holds 438,571 Ordinary Shares in the Company (representing approximately 0.28% of the Company's issued share capital) and 1,176,508 share options in the Company;

-  David Senior exercised 20,000 Options. Following the Exercise, Mr Senior sold 40,459 Ordinary Shares at a price of 124.0609   pence per Ordinary Share on 23 November 2021 in order to cover the tax and national insurance liability associated with the Exercise and Share Issue. Following the Exercise and the sale of shares, Mr Senior holds 56,550 Ordinary Shares in the Company (representing approximately 0.04% of the Company's issued share capital) and 541,851 shares options in the Company.

Accordingly, application has been made for 498,449 new Ordinary Shares to be issued pursuant to the option exercise to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 7 December 2021.

Following Admission, the Company's issued share capital will consist of 156,991,982 Ordinary Shares, 19,703 of which are held in Treasury. For reporting under the FCA's Disclosure Guidance and Transparency Rules, shareholders should exclude any shares held in Treasury and should use the figure of 156,972,279 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.

Following the Exercise there are options outstanding over 4,733,596 Ordinary Shares, representing 3.00% of the Company's issued share capital.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

Enquiries:

Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer	[phone]
finnCap Ltd - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM)	[phone]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them  

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter Brotherton
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Redcentric plc
b)	LEI	213800FGYMMNE9OKFD14
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary Shares of 0.1p
	Identification code	RCN GB00B7TW1V39
b)	Nature of the transaction	-  Exercise of options granted under the Redcentric plc 2017 Long Term Incentive Plan -  Sale of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 298,879 options exercised Nil cost 117,111 bonus issue of ordinary shares 124p 205,990 ordinary shares sold
d)	Aggregated information: · Aggregated volume · Price	See 4 (c) above
e)	Date of the transactions	23 November 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Senior
2.	Reason for the Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Redcentric plc
b)	LEI	213800FGYMMNE9OKFD14
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary Shares of 0.1p
	Identification code	RCN GB00B7TW1V39
b)	Nature of the transaction	-  Exercise of options granted under the Redcentric plc 2017 Long Term Incentive Plan -  Sale of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil cost 20,000 options exercised Nil cost 62,459 bonus issue of ordinary shares 124p 40,459 ordinary shares sold
d)	Aggregated information: · Aggregated volume · Price	See 4 (c) above
e)	Date of the transactions	23 November 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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