Gear4music (Holdings) plc
PDMR Dealings & Directorate Change
On 19 October 2016, the board of Gear4music (Holdings) plc ("Gear4music" or the "Company") was informed that Key Capital Partners (Nominees) Limited ("KCP") had sold 829,482 shares. KCP is classified as a Person Closely Associated with Peter Armitage, a Non-Executive Director of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member. KCP no longer has a notifiable interest in the Company. The above transaction, which was completed at 360 pence per share, took place on 19 October 2016.
Separately, the Company announces that, following the above transaction, Mr Armitage will step down from the Board with immediate effect.
Andrew Wass, Chief Executive Officer, said:
"Key Capital's decision to invest in the business in 2012 has been integral to our subsequent development and setting us on the path to growth. With Peter stepping away from the Board, now would seem the appropriate juncture to recognise the very significant contribution they have made over a number of years. I would like to wish both Peter and Key Capital all the very best in their future endeavours."
- Ends -
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMR") and persons closely associated ("PCA") with them.
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Names |
Key Capital Partners (Nominees) Limited |
2 |
Reason for the notification |
a) |
Position/status |
KCP is classified as a PCA of Peter Armitage, a Non-Executive Director and PDMR of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member. |
b) |
Initial notification /Amendment |
Initial Notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Gear4music (Holdings) plc |
b) |
LEI |
ISIN = GB00BW9PJQ87 |
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 10p each |
b) |
Identification code |
GB00BW9PJQ87 |
c) |
Nature of the transactions |
Sale of Ordinary Shares |
d) |
Price(s) and volume(s) |
Volume(s): KCP - 829,482 shares Price: £3.60 per share |
d) |
Aggregated information - Aggregated volume - Price |
N/A |
e) |
Date of the transactions |
19 October 2016 |
f) |
Place of the transaction |
London Stock Exchange, AIM Market (XLON) |
Name of authorised official of issuer responsible for making notification:
Chris Scott
Company Secretary to Gear4music (Holdings) plc
For further information please contact
Gear4music +44 843 155 0800
Andrew Wass, Chief Executive Officer
Chris Scott, Chief Financial Officer
Panmure Gordon +44 20 7886 2500
(Financial Adviser, Nominated Adviser and Broker)
Andrew Godber / Peter Steel - Investment Banking
Erik Anderson / Tom Salvesen - Corporate Broking
MHP Communications (Financial PR) +44 20 3128 8100
Andrew Leach
Simon Hockridge
Isabelle Grainger
