Issue of Equity and PDMR Dealings
23 January 2025
Journeo plc
("Journeo", or the "Company")
Issue of Equity and PDMR Dealings
Journeo plc (AIM: JNEO), a leading provider of information systems and technical services to transport operators and local authorities announces the issuance of a total of 477,187 new ordinary shares of 6.5p each ("Ordinary Shares") pursuant to the exercise of options by certain employees and PDMRs, as well as other PDMR dealings.
Pursuant to the Company's 2020 EMI scheme, options have been exercised over 153,334 new Ordinary Shares by certain employees at an exercise price of 50p per share, including 50,000 by Nick Lowe, Chief Financial Officer, who has undertaken a partial exercise of his total EMI options held. Nick subsequently sold 50,000 Ordinary Shares at 272p per share.
Furthermore, Russ Singleton, Chief Executive Officer, has exercised a put option granted to him under the Company's Employee Shareholder plan (the "Plan"), further details of which were announced by the Company on 28 November 2014 and was approved by shareholders on 17 December 2014. The Plan entitled Russ to an award of value, either in cash or shares, subject to the achievement of a minimum share price at the time of exercise. With the relevant share price hurdle having been met, the board has determined at its discretion that the award due to Russ following this exercise shall be satisfied through the issue of 323,853 new Ordinary Shares. The Company announces that following this exercise, Russ subsequently sold 166,666 Ordinary Shares at a price of 272p per share. Following these transactions, Russ's beneficial interest has increased to 622,572 Ordinary Shares, representing approximately 3.67 per cent. of the Company's enlarged issued share capital.
Application has been made for 477,187 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 29 January 2025. Following Admission, the Company will have 16,951,678 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the total number of voting rights in the Company following Admission will be 16,951,678. This figure should be used by Shareholders as the denominator for calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, Ordinary Shares under the FCA's Disclosure Guidance and Transparency Rules.
Further details are set out below in accordance with the UK Market Abuse Regulation.
A digital copy of this announcement will be available on the Group's website: www.journeo.com.
For further information, please contact:
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Journeo plc |
+44 (0) 203 651 9166 |
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Cavendish Capital Markets Limited - Nominated Adviser and Broker |
+44 (0) 207 220 0500 |
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Notes to editors:
Journeo plc is a leading Intelligent Transport Systems provider, delivering solutions in towns, cities, airports, and the public transport networks that connect them. The Company works extensively with local and combined authorities, Network Rail and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable future.
The business has five operating companies:
· Journeo Fleet Systems: CCTV video surveillance to improve passenger & driver safety, telematics for vehicle and driver performance monitoring, real-time communications for remote condition monitoring and automatic passenger counting.
· Journeo Passenger Systems: design, manufacture, installation, and management of hardware and software for electronic public transport information systems, in and around towns, cities, ferry terminals and airports which includes smart-ticketing and wayfinding.
· Infotec: design, advanced manufacture, installation and software management of information displays hardware for rail applications in stations, on-platform and on-vehicle.
· Journeo AS (based in Aarhus, Denmark): full-service provider of Intelligent Transport Systems ("ITS") with customers in Denmark, Sweden and Iceland.
· Journeo AB (based in Stockholm, Sweden): technical services provider to public transport customers in Sweden.
In the last 4 years, the Company has invested over £6 million in research and development, enabling it to design and supply powerful innovative solutions for customers' complex requirements and the demands of modern public transport. With an Internet of Things ("IoT") approach and open standards, together with field-proven and reliable engineering, Journeo is able to offer flexible, scalable products and services that can integrate with existing technology while preparing for future advancements.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Russ Singleton |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Executive Officer |
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b) |
Initial notification/Amendment |
Initial Notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Journeo plc |
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b) |
LEI |
213800TKF7L4IEV9W867 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of 6.5 pence each |
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Identification code |
GB00BKP51V79 |
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b) |
Nature of the transaction |
Exercise of put option |
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
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Nil |
323,853 |
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d) |
Aggregated information |
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|
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Aggregated volume |
N/A single transaction |
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Price |
N/A single transaction |
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e) |
Date of the transaction |
22 January 2025 |
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f) |
Place of the transaction |
Outside a trading venue |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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|
a) |
Name |
Russ Singleton |
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Chief Executive Officer |
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|
b) |
Initial notification/Amendment |
Initial Notification |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Journeo plc |
|
|
b) |
LEI |
213800TKF7L4IEV9W867 |
|
|
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 6.5 pence each |
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|
|
Identification code |
GB00BKP51V79 |
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b) |
Nature of the transaction |
Sale of shares |
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
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272p per share |
166,666 |
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d) |
Aggregated information |
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|
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Aggregated volume |
N/A single transaction |
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|
|
Price |
N/A single transaction |
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e) |
Date of the transaction |
22 January 2025 |
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f) |
Place of the transaction |
AIMX |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Nick Lowe |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Financial Officer |
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b) |
Initial notification/Amendment |
Initial Notification |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Journeo plc |
|
|
b) |
LEI |
213800TKF7L4IEV9W867 |
|
|
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 6.5 pence each |
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|
|
Identification code |
GB00BKP51V79 |
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b) |
Nature of the transaction |
Exercise of EMI options |
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
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Exercise price of 50p per share |
50,000 |
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d) |
Aggregated information |
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|
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Aggregated volume |
N/A single transaction |
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|
|
Price |
N/A single transaction |
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e) |
Date of the transaction |
22 January 2025 |
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f) |
Place of the transaction |
Outside a trading venue |
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|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||
|
a) |
Name |
Nick Lowe |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Chief Financial Officer |
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|
b) |
Initial notification/Amendment |
Initial Notification |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Journeo plc |
|
|
b) |
LEI |
213800TKF7L4IEV9W867 |
|
|
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 6.5 pence each |
|
|
|
Identification code |
GB00BKP51V79 |
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|
b) |
Nature of the transaction |
Sale of shares |
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
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272p per share |
50,000 |
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d) |
Aggregated information |
|
|
|
|
Aggregated volume |
N/A single transaction |
|
|
|
Price |
N/A single transaction |
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e) |
Date of the transaction |
22 January 2025 |
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f) |
Place of the transaction |
AIMX |
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