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Gateley (Holdings) (GTLY)

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Tuesday 22 October, 2019

Gateley (Holdings)

Allocation & sale of SARS shares & PDMR dealings

RNS Number : 6245Q
Gateley (Holdings) PLC
22 October 2019
 

22 October 2019

 

Gateley (Holdings) Plc

("Gateley" or the "Company")

 

Allocation and sale of Gateley shares from Stock Appreciation Rights Scheme and PDMR dealings

 

Gateley (AIM: GTLY), the legal and professional services group, is pleased to announce the transfer of 1,624,648 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") from the Gateley Employee Benefit Trust ("the EBT") to partner level employees who have exercised their rights pursuant to the Company's Stock Appreciation Rights ("SAR") Scheme. As announced by the Company on 8 October 2018, a total of 1,631,588 Ordinary Shares had previously been issued to the EBT to satisfy the vesting of share options under the SAR Scheme.

 

Of the 1,624,648 Ordinary Shares transferred, 747,007 have been sold at a price of £1.55 per Ordinary Share on behalf of partners in order to reimburse them for their personal tax liabilities resulting from the exercise of their SAR Scheme awards. The buyers primarily comprised a number of existing institutional investors.

 

Alongside the sale of Ordinary Shares sold following the exercise of rights pursuant to the SAR scheme the EBT sold 402,993 Ordinary Shares, also at a price of £1.55 per Ordinary Share, taking the aggregate number of Ordinary Shares sold to 1,150,000, representing 1.01% of the issued share capital of the Company. Following the sale of Ordinary Shares, the Company's free float is now 46.3%.

 

The Ordinary Shares were successfully placed by finnCap and N+1 Singer.

 

PDMR Dealings

 

The Company announces that it has received the following notification of sales of Ordinary Shares to fund related tax liabilities from George Parker-Fuller, Katie Chester, Thomas Durrant and Rafe Courage, being PDMRs of Gateley. The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

 

Further information on all Executive Director and PDMR dealings are provided below:

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

George Parker-Fuller

2

Reason for notification

 

a.

Position/Status

Director of Gateley Plc

b.

Initial notification/ Amendment

Initial Notification

3

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

a.

Name

Gateley (Holdings) 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

Identification Code

Ordinary Shares of 10p each

 

ISIN: GB00BXB07J71

b.

Nature of the transaction

Sale of Ordinary Shares to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.55

19,953

 

 

d.

Aggregated information

- Aggregated Volume

- Price

 

19,953

£30,927.15

e.

Date of the transaction

18 October 2019

f.

Place of the transaction

London Stock Exchange

                 

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Thomas Durrant

2

Reason for notification

 

a.

Position/Status

Director of Gateley Plc

b.

Initial notification/ Amendment

Initial Notification

3

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

a.

Name

Gateley (Holdings) 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

Identification Code

Ordinary Shares of 10p each

 

ISIN: GB00BXB07J71

b.

Nature of the transaction

Sale of Ordinary Shares to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.55

17,362

 

 

d.

Aggregated information

- Aggregated Volume

- Price

 

17,362

£26,911.10

e.

Date of the transaction

18 October 2019

f.

Place of the transaction

London Stock Exchange

                 

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Katie Chester

2

Reason for notification

 

a.

Position/Status

Member of the Operations Board of Gateley Plc

b.

Initial notification/ Amendment

Initial Notification

3

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

a.

Name

Gateley (Holdings) 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

Identification Code

Ordinary Shares of 10p each

 

ISIN: GB00BXB07J71

b.

Nature of the transaction

Sale of Ordinary Shares to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.55

13,174

 

 

d.

Aggregated information

- Aggregated Volume

- Price

 

13,174

£20,419.70

e.

Date of the transaction

18 October 2019

f.

Place of the transaction

London Stock Exchange

                 

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Rafe Courage

2

Reason for notification

 

a.

Position/Status

Member of the Operations Board of Gateley Plc

b.

Initial notification/ Amendment

Initial Notification

3

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

a.

Name

Gateley (Holdings) 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

Identification Code

Ordinary Shares of 10p each

 

ISIN: GB00BXB07J71

b.

Nature of the transaction

Sale of Ordinary Shares to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.55

14,134

 

 

d.

Aggregated information

- Aggregated Volume

- Price

 

14,134

£21,907.70

e.

Date of the transaction

18 October 2019

f.

Place of the transaction

London Stock Exchange

                 

 

Enquiries

 

Gateley (Holdings) Plc

 

Neil Smith, Finance Director

Tel: +44 (0) 121 234 0196

Nick Smith, Acquisitions Director and Head of Investor Relations

Tel: +44 (0) 20 7653 1665

Cara Zachariou, Head of Corporate Communications

Tel: +44 (0) 121 234 0074

Mob: +44 (0) 7703 684 946

 

 

finnCap - Nominated adviser and broker

Tel: +44 (0) 20 7220 0575

Matt Goode / James Thompson (Corporate Finance)

 

Andrew Burdis (ECM)

 

 

 

N+1 Singer - Joint broker

Tel: +44 (0) 20 7496 3000

Richard Lindley / Peter Steel (Corporate Finance)

 

Rachel Hayes (Corporate Broking)

 

 

 

Belvedere Communications Limited - Financial PR

 

Cat Valentine ([email protected])

Mob: +44 (0) 7715 769 078

Keeley Clarke ([email protected])

Mob: +44 (0) 7967 816 525

 


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