Director/PDMR Shareholding

Pulsar Group PLC

15 December 2025

 

15 December 2025

Pulsar Group plc

("Pulsar" or the "Company")

Director/PDMR Shareholdings

Pulsar Group plc (AIM: PULS) announces that it has received notification from Mr. Max Royde, Non-Executive Director of the Company, that an aggregate of 284,452 ordinary shares of 5 pence each in the Company ("Ordinary Shares") have been transferred out of Kestrel Partners LLP's ("Kestrel") discretionary management and control due to the rearrangement of two client portfolios. These Ordinary Shares continue to be held by the same beneficial owners.

Mr. Royde is a partner of, and holds a beneficial interest in, Kestrel. Mr. Royde is also a shareholder in the Kestrel Opportunities Fund ("Kestrel Opportunities") and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding of Ordinary Shares in the Company.

Following this transaction, Kestrel Opportunities continues to hold (and consequently Mr. Royde is deemed to have a beneficial interest in) 20,227,082 Ordinary Shares, and other discretionary management clients of Kestrel, in which Mr. Royde has no beneficial interest hold 18,588,160 Shares in the Company.

On a combined basis, Kestrel indirectly holds voting rights over 38,815,242 Ordinary Shares in the Company, which represents approximately 28.62% of the total voting rights in the Company.

Kestrel's interest in the Ordinary Shares in the Company is held through the following nominees:

Nominee	No. of Ordinary Shares	% of total voting rights
Bank of New York Nominees Ltd	20,227,082	14.92%
JIM Nominees Limited	1,630,752	1.20%
Bank of New York Nominees Ltd	10,576,173	7.80%
Northern Trust Company AVFC	5,888,848	4.34%
iDealing Nominees Limited	492,387	0.36%

For further information contact:

Pulsar Group plc Joanna Arnold (CEO) Mark Fautley (CFO)	020 3426 4070
Cavendish Capital Markets Limited (Nominated Adviser and Broker) Corporate Finance: Marc Malmo / Fergus Sullivan / Elysia Bough Corporate Broking Sunila de Silva	020 7220 0500

ANNEX

The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Max Royde
2	Reason for the notification
a)	Position/status	PCA - Kestrel Partners LLP are a PCA of Max Royde (Non-Executive Director of the Company) and Partner of Kestrel).
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Pulsar Group plc
b)	LEI	213800PPZ4ZM8OMHGT41
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 Identification code	Ordinary Shares of 5 pence each ISIN: GB00BGQVB052
b)	Nature of the transaction	Transfer of Ordinary Shares out of Kestrel controlled accounts. Mr. Royde is a partner of, and holds a beneficial interest in, Kestrel. Mr. Royde is also a shareholder in one of Kestrel's clients ("Kestrel Opportunities") and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in Shares in the Company.
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 284,452
d)	Aggregated information - Aggregated volume - Price	As above.
e)	Date of the transaction	12 December 2025
f)	Place of the transaction	N/A

 

END