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7digital Group PLC (7DIG)

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Thursday 14 December, 2017

7digital Group PLC

Issue of Equity & Director/PDMR Shareholding

RNS Number : 2964Z
7digital Group PLC
14 December 2017

7digital Group plc

("7digital" or "the Company")

Issue of Equity

Director/PDMR Shareholding

7digital (AIM:7DIG), the B2B digital music and radio services company, announces that it has applied to the London Stock Exchange for 1,764,840 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission").  In addition, 28,336 Ordinary Shares are being transferred from Treasury to employees of the Company as part of the exercise of the Options.


The Ordinary shares to be issued relate to;


36,802 new Ordinary Shares are being issued or transferred from treasury subsequent to exercises of options over Ordinary Shares ("Options") by employees of the Company,


477,762 new Ordinary Shares are being issued subsequent to exercises of options over Ordinary Shares ("Options") by Sir Donald Cruickshank, the chairman of the Company; and

1,278,612 new Ordinary Shares are being issued to Sir Donald Cruickshank in lieu of remuneration.


Under the terms of his appointment Sir Donald Cruickshank receives a fee of £50,000 per annum.  In line with other Non-Executive Directors, this fee is payable in shares at the end of each 6 month period based on the share price at the end of each period.  During the period from his appointment these shares have accrued as unissued shares and are now being issued.


As a result of the exercise of the Options and the issue of the Ordinary Shares, Sir Donald Cruickshank's shareholding in the Company is 3,468,605 Ordinary Shares, which equate to 1.86% of the issued Ordinary Share capital.


It is expected that Admission will become effective and trading will commence in the new Ordinary Shares at 8.00 a.m. on 19th December 2017. On Admission the Company's issued share capital will comprise 186,138,987 Ordinary Shares. No shares will be held in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights will be 186,138,987. Accordingly, the figure of 186,138,987 may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.



7digital Group

020 7099 7777

Simon Cole, Chief Executive


Matt Honey, Chief Financial Officer

Holly Ashmore, PR Manager





Arden (nominated adviser and broker)


020 7614 5900


Chris Hardie/Ruari McGirr/Benjamin Cryer - Corporate Finance


Fraser Marshall - Corporate Broking






About 7digital (



7digital is the global leader in B2B end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.

7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo, Global Radio and From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like Panasonic, TDC and Electric Jukebox, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.





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



Details of the person discharging managerial responsibilities / person closely associated



Sir Donald Cruickshank


Reason for the Notification



Chairman / PDMR


Initial notification/Amendment

Initial notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



7digital Group plc





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


Description of the Financial instrument, type of instrument

ordinary shares of 1p each ("Ordinary Shares")

Identification code



Nature of the transaction

Exercise of Options over Ordinary Shares

Issue of shares in lieu of remuneration


Price(s) and volume(s)

Exercise of Options





Issue of shares in lieu of remuneration







Aggregated information:

·      Aggregated volume

·      Price

See 4 (c) above



Date of the transaction

13th December 2017


Place of the transaction

Outside a trading venue


This information is provided by RNS
The company news service from the London Stock Exchange

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