Directors' Dealing

RNS Number : 4690C

Restore PLC

13 April 2017

 

13 April 2017

Restore plc

("Restore" or the "Company")

Exercise of Options

Directors' Dealing

The Company has applied for 586,358 new ordinary shares of 5 pence each ("New Ordinary Shares") to be admitted to trading on AIM ("Admission"). The New Ordinary Shares are being issued in relation to the exercise today of nil-cost options granted in 2016 under the terms of the 2013 Executive Incentive Plan ("EIP") to the executive directors of the Company. It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 21 April 2017.

Of the 2,345,431 nil-cost options being exercised, the Company has elected to settle 75% of the value in cash, calculated according to the closing price on Wednesday 12^th April 2017 of 379.5p.  As a result of this, 1,759,073 nil-cost options granted under the EIP have been cancelled, thereby reducing the amount of ongoing share dilution. The executive directors will use part of the cash settlement to fund the tax liability on the remainder of the option exercise referred to in the previous paragraph.

Following the exercise of the options, the executive directors' beneficial shareholdings are now:

Directors' Holdings	Number of Ordinary Shares held prior to exercise of options	Number of New Ordinary Shares received as a result of exercise of options	Interest in Ordinary Shares following the issue of New Ordinary Shares	Percentage of total voting rights following the issue of New Ordinary Shares
Charles Skinner	1,098,792	439,768	1,538,560	1.36%
Adam Councell	145,623	146,590	292,213	0.26%

Following admission of the New Ordinary Shares there will be 112,729,615 ordinary shares in issue and admitted to trading on AIM.

Contact:

Restore plc
Charles Skinner, Chief Executive	07966 234 075
Adam Councell, Group Finance Director	07860 402 434
Cenkos Securities plc	020 7397 8900
Nicholas Wells
Elizabeth Bowman
FTI Consulting	020 3727 1340
Nick Hasell
Alex Le May

Template for 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	Charles Skinner
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Restore plc
b)	LEI	N/A
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 5 pence each
	Identification code	GB00B5NR1S72
b)	Nature of the transaction	Exercise of nil cost share options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			-	439,768
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	Outside trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Charles Skinner
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Restore plc
b)	LEI	N/A
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 5 pence each
	Identification code	GB00B5NR1S72
b)	Nature of the transaction	Cancellation of nil cost share options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			379.5 pence	1,319,305
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	Outside trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Adam Councell
2	Reason for the notification
a)	Position/status	Group Finance Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Restore plc
b)	LEI	N/A
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 5 pence each
	Identification code	GB00B5NR1S72
b)	Nature of the transaction	Exercise of nil cost share options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			-	146,590
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	Outside trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Adam Councell
2	Reason for the notification
a)	Position/status	Group Finance Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Restore plc
b)	LEI	N/A
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 5 pence each
	Identification code	GB00B5NR1S72
b)	Nature of the transaction	Cancellation of nil cost share options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			379.5 pence	439,768
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 April 2017
f)	Place of the transaction	Outside trading venue

 

END

 

 

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