Allocation and sale of shares from SAR Scheme

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	Tel: +44 (0) 121 234 0074 or +44 (0) 7703 684 946
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