Information  X 
Enter a valid email address

Gateley (Holdings) (GTLY)

  Print   

Thursday 17 October, 2019

Gateley (Holdings)

New five-year orderly market agreement

RNS Number : 1496Q
Gateley (Holdings) PLC
17 October 2019
 

17 October 2019

 

Gateley (Holdings) Plc

("Gateley, the "Group" or the "Company")

 

New five-year orderly market agreement

 

Gateley (AIM: GTLY), the legal and professional services group, is pleased to announce that it has entered into a new five-year orderly market agreement (the "New Agreement") with its Partners (the "Locked-in Shareholders") which, inter alia, places certain restrictions on the sale of ordinary shares in the Company ("Ordinary Shares").  The New Agreement will become effective on 8 June 2020 following the expiry of the current lock-in arrangements, which were put in place at the time of the Company's admission to AIM in June 2015 (the "Admission").

 

Pursuant to the New Agreement, each Locked-in Shareholder and his/her associates, which includes their spouse and children under the age of 18 to whom any Ordinary Shares have been transferred ("Associates"), that held Ordinary Shares as at Admission will be restricted to selling a maximum of 10% per annum of the aggregate number of the Ordinary Shares that they held on Admission for a period of five years from 8 June 2020.

 

Of the 81 Partners who were subject to the current lock-in agreement at Admission, 75 remain with the Group. Of these remaining Partners, 70, who, together with their respective Associates, hold in aggregate 56,187,614 Ordinary Shares representing 49.4% of the total issued share capital of Gateley, have entered into the New Agreement.

 

Michael Ward, CEO of Gateley, said: "I am delighted with the overwhelming support Partners have shown in the Group in signing the New Agreement which continues to demonstrate their long-term commitment to the Group.  I believe that the New Agreement secures the continuation of a stable platform from which internal and external shareholders can invest with confidence."

 

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 20 7220 0575

Matt Goode / James Thompson (Corporate Finance)

 

Andrew Burdis (ECM)

 

 

 

N+1 Singer - Joint broker

Tel: +44 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

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
AGRKMMMGRVLGLZM

a d v e r t i s e m e n t