Issue of Shares, PDMR Dealing and TVR

RNS Number : 3844O
Panoply Holdings PLC (The)
09 February 2021
 

9 February 2021

The Panoply Holdings PLC

("The Panoply", or the "Group")

 

Issue of shares / PDMR dealing and total voting rights

 

The Panoply Holdings PLC, the technology-enabled services group focused on digital transformation, announces that the Group has today issued 345,191 new ordinary shares of 1 pence each in respect of outstanding acquisition consideration totalling £637,339 ("Earnout Shares") and 4,906 new ordinary shares of 1 pence in respect of the Share Incentive Plan ("SIP").

 

The SIP Trustees (Cytec Trustees Limited) acquired a total of 4,906 shares (the "Partnership Shares") on 8 February 2021 at a price of £1.77 per Ordinary Share and total cost of £8,683.62. The Partnership Shares were acquired by purchase in the market and allocated to those Group employees participating in its Share Incentive Plan (SIP)  scheme . As set out at the time of the announcement of The Panoply's interim results on 30 November 2020, this SIP Plan is designed to reward and incentivise employees of the Group through tax-efficient salary sacrifice and a free matching award of Ordinary Shares on a one-for-one basis. Accordingly, on 8 February 2021, the SIP Trustees also allocated a total of 4,906 matching shares (the "Matching Shares") under the SIP. The Matching Shares are covered by the Group's block listing as announced on 15 January 2021.

 

Neal Gandhi and Oliver Rigby received Earnout Shares in respect of the acquisitions, together with Partnership Shares and Matching Shares under the SIP as follows:

 

Name

Earnout Shares issued

Partnership Shares acquired

Matching Shares issued

Total Shares post issue (including shares held by the SIP on behalf of the relevant PDMR)

Percentage of issued share capital

Neal Gandhi

63,508

84

84

9,997,048

14.4%

Oliver Rigby

1,601

84

84

5,095,969

7.3%

 

 

Remaining value of acquisition consideration to be issued


Following the issue, the Company has additional consideration to pay totalling £11,102,061. The maximum further shares to be issued as a result of this consideration is 14,360,629, which reduces to 6,728,522 assuming the share price remained constant at 165p, being the closing mid-market price on 3 February 2021.  Further details of the share issues are set out below:

 

 

Value £'000s

Minimum share price

Max shares to be issued '000s

Shares to be issued calculated based on  31 December 2020 closing share price

6,576

74p

8,888

3,986

1,306

82p

1,593

792

838

82.5p

1,015

508

2,382

83.125p

2,865

1,443

11,102

 

14,361

6,729

 

 

Timing of payment of acquisition consideration

Value £'000s

Within the next 6 months

4,578

Between 6-12 months

3,069

After 12 months

3,455

 

Admission to trading and total voting rights

 

An application has been made for the admission of the Earnout Shares to trading on AIM which is expected to take place on   or around 12 January 2021. The Matching Shares are covered by the Group's block listing as announced on 15 January 2021.

 

Following this issue of Earnout Shares and Matching Shares the Company will have 69,573,128 Ordinary Shares in issue and no Ordinary Shares in treasury. Therefore, the total voting rights in The Panoply will be 69,573,128 . T his figure may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Group under the FCA's Disclosure Guidance and Transparency Rules.

 

 

Enquiries:

 

The Panoply Holdings

Neal Gandhi (CEO)

Oliver Rigby (CFO)

 

Stifel Nicolaus Europe Limited

(Nomad and Joint Broker)

Via Alma PR

 

 

 

+44 (0)207 710 7600

Fred Walsh

Alex Price

 

Dowgate Capital Limited

(Joint Broker)

James Serjeant

David Poutney

 

 

 

 

+44 (0)203 903 7715

Alma PR

(Financial PR)

Susie Hudson

Josh Royston

Harriet Jackson

panoply@almapr.co.uk

+44(0)203 405 0209

 

 

 

 

About The Panoply

 

The Panoply is a digitally native technology services company, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology, design and innovation consulting businesses across Europe, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.

 

More information is available at www.thepanoply.com

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

 

Neal Gandhi

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

 

The Panoply Holdings Plc

b)

LEI

 

2138004S9O18Q6F9MS74

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

Identification code

 

ISIN:  GB00BGGK0V60

b)

Nature of the transaction

 

Receipt of vendor consideration shares and purchase and allocation of Partnership and Matching Shares, respectively, under the The Panoply Holdings PLC Share Incentive Plan

c) Price(s) and volume(s)

 

Earnout Shares:

55,499 ordinary shares at 180.33 p

8,009 ordinary shares at 186.52p

Matching Shares:

64 ordinary shares at 177.00p

 

Partnership Shares:

64 ordinary shares at 177.00p

 

 

 

 

 

d)

 

Aggregated information

 

Earnout Shares:

63,508 shares

£115,019.73

 

- Aggregated volume

 

Matching Shares:

£113.28

- Price

 

 

Partnership Shares:

£113.28

 

e)

Date of the transaction

 

8 February 2021

f)

Place of the transaction

 

Earnout Shares and Matching Shares took place outside a trading venue

 

Partnership Shares acquired on AIM

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

 

Oliver Rigby

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

 

The Panoply Holdings Plc

b)

LEI

 

2138004S9O18Q6F9MS74

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

Identification code

 

ISIN:  GB00BGGK0V60

b)

Nature of the transaction

 

Receipt of vendor consideration shares and purchase and allocation of Partnership and Matching Shares, respectively, under the The Panoply Holdings PLC Share Incentive Plan

c) Price(s) and volume(s)

 

Earnout Shares:

1,601 ordinary shares at 186.52p

Matching Shares:

64 ordinary shares at 177.00p

 

Partnership Shares:

64 ordinary shares at 177.00p

 

 

 

 

 

d)

 

Aggregated information

 

Earnout Shares:

63,508 shares

£2,986.19

 

- Aggregated volume

 

Matching Shares:

£113.28

- Price

 

 

Partnership Shares:

£113.28

 

e)

Date of the transaction

 

9 February 2021

f)

Place of the transaction

 

Earnout Shares and Matching Shares took place outside a trading venue

 

Partnership Shares acquired on AIM

             

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TVRFZGGZGRVGMZZ
UK 100

Latest directors dealings