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Gateley (Holdings) (GTLY)

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Thursday 02 August, 2018

Gateley (Holdings)

Allocation and sale of shares from SAR Scheme

RNS Number : 6647W
Gateley (Holdings) PLC
02 August 2018
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain. 

 

 

2 August 2018

 

Gateley (Holdings) Plc

 

('Gateley' or the 'Company')

 

Allocation and sale of Gateley shares from Stock Appreciation Rights Scheme and Director Dealings

 

Gateley (Holdings) Plc (AIM:GTLY), the law-led professional services group is pleased to announce the transfer of 2,300,913 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 17 July 2018, a total of 2,425,024 Ordinary Shares had previously been issued to the EBT to satisfy the vesting of share options under the SAR Scheme.

 

Of the 2,300,913 Ordinary Shares transferred, an aggregate of 1,298,602 have been sold 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 comprised an existing institutional investor, laterally hired employees (at 'partner' level) and the EBT.

 

The new Ordinary Shares were successfully placed by Cantor Fitzgerald Europe.

 

Highlights

·        The Group's incentivisation plan is now, 3 years post IPO, generating real, tangible rewards for "partners" lower down the equity ranks at the time of the IPO 

·        2,425,024 aggregate Ordinary Shares, represents 2.19% of the current issued share capital

·        Transaction price of £1.60 per Ordinary Share

·        Free float now 38.3%

 

PDMR Dealings

The Company announces that it has received the following notification of sales of Ordinary Shares from George Parker-Fuller, Katie Chester, Thomas Durrant, Christopher Thompson, 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:



 

 

schedule 1 

 

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

Executive 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

1.            a.

2.            Description of the financial instrument, type of instrument

Identification Code

Ordinary Shares of  10 pence each

 

 

 

ISIN: GB00BXB07J71

3.            b.

4.            Nature of the transaction

Sale of Ordinary Shares to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.60p

 

36,583

 

 

d.

Aggregated information

- Aggregated Volume

 - Price

 

36,583

 

£1.60p

e.

Date of the transaction

1 August 2018

f.

Place of the transaction

London Stock Exchange










 

schedule 2

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

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

5.            a.

6.            Description of the financial instrument, type of instrument

Identification Code

Ordinary Shares of 10 pence each

 

 

 

ISIN: GB00BXB07J71

7.            b.

8.            Nature of the transaction

Sale of Ordinary Shares to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.60p

 

35,355

 

 

d.

Aggregated information

- Aggregated Volume

 

- Price

 

35,355

 

£1.60p

e.

Date of the transaction

1 August 2018

f.

Place of the transaction

London Stock Exchange










 

schedule 3

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

Member of the Operations Board

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

9.            a.

10.            Description of the financial instrument, type of instrument

Identification Code

Ordinary Shares of  10 pence each

 

 

 

ISIN: GB00BXB07J71

11.           b.

12.          Nature of the transaction

Sale of Ordinary Shares  to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.60p

 

60,972

 

 

d.

Aggregated information

- Aggregated Volume

 

- Price

 

60,972

 

£1.60p

e.

Date of the transaction

1 August 2018

f.

Place of the transaction

London Stock Exchange










schedule 4

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

Christopher Thompson

2

Reason for notification

 

 

a.

Position/Status

Member of the Operations Board

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

13.          a.

14.            Description of the financial instrument, type of instrument

Identification Code

Ordinary Shares of  10 pence each

 

 

 

ISIN: GB00BXB07J71

15.          b.

16.          Nature of the transaction

Sale of Ordinary Shares to reimburse tax liability on SARS

c.

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

£1.60p

 

35,841

 

 

d.

Aggregated information

- Aggregated Volume

 

- Price

 

35,841

 

£1.60p

e.

Date of the transaction

1 August 2018

f.

Place of the transaction

London Stock Exchange










Ends -

 

 

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 Communications

 

 

Cantor Fitzgerald Europe - Nominated Adviser and Broker

Tel: +44 (0) 20 7894 7000

David Foreman, Marc Milmo, Michael Boot (Corporate Finance)

 

Caspar Shand Kydd (Sales)

 

 

 

Arden Partners - Broker

Tel: +44 (0) 20 7614 5900

John Llewellyn-Lloyd, Benjamin Cryer (Corporate Finance)

 

James Reed-Daunter (Corporate Broking)

 

 

 

IFC Advisory - Financial PR Adviser

 

Tim Metcalfe, Miles Nolan

Tel: +44 (0) 20 3934  6630

 

 

 

 


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