Issue of shares under LTIP, PDMR dealings & TVR
Updated : 13:19
2 August 2021
Gear4music (Holdings) plc
Issue of shares under Long Term Incentive Plan
Director/PDMR dealings
Total Voting Rights
Gear4music (Holdings) plc, ("Gear4music" or "the Group") (LSE: G4M), the largest UK based online retailer of musical instruments and music equipment, today announces that the performance conditions relating to the conditional share awards granted under the Company's Long Term Incentive Plan ("LTIP") to certain employees of the Company on 13 November 2018, as amended on 13 October 2020, were fully met. As a result, 21,450 ordinary shares of 10 pence each ("Ordinary Shares") will be issued and allotted.
Director/PDMR dealings
Gareth Bevan (Chief Commercial Officer) and Chris Scott (Chief Financial Officer) will be issued and allotted 6,825 and 5,850 Ordinary Shares respectively, with their resultant respective interests in the Company's enlarged issued share capital as below:
Director/PDMR | Existing number of Ordinary Shares held | Ordinary Shares issued pursuant to LTIP | Resultant number of Ordinary Shares held | Percentage interest in the Company's enlarged issued share capital |
Gareth Bevan | 84,760 | 6,825 | 91,585 | 0.44% |
Chris Scott | 74,840 | 5,850 | 80,690 | 0.38% |
Andrew Wass' (Chief Executive Officer) entitlement to an award of £55,575 has been exercised and will be settled in cash.
Admission to trading
Application has been made to the London Stock Exchange for the 21,450 Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 8.00 a.m. on 3 August 2021.
The new Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares in the capital of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the new Ordinary Shares.
Total voting rights
Following Admission, the total number of Ordinary Shares in issue will be 20,976,938. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, provide further detail.
ENDS
Enquiries:
Gear4music Andrew Wass, Chief Executive Officer Chris Scott, Chief Financial Officer | +44 (0)20 3405 0205 |
Singer Capital Markets - Nominated Adviser and Joint Broker Peter Steel/Amanda Gray, Corporate Finance Tom Salvesen, Corporate Broking | +44 (0)20 7496 3000
|
Investec Bank plc - Joint Broker David Flin Alex Wright Harry Hargreaves | +44 (0)20 7597 5970
|
Alma PR - Financial PR Harriet Jackson Josh Royston Faye Calow | +44 (0)20 3405 0205 Gear4Music@almapr.co.uk
|
About Gear4music (Holdings) plc
Operating from a Head Office in York, and Distribution Centres and showrooms in York, Sweden and Germany, the Group sells own-brand musical instruments and music equipment alongside premium third-party brands including Fender, Yamaha and Roland, to customers ranging from beginners to musical enthusiasts and professionals, in the UK, Europe and, more recently, into the Rest of the World.
Having developed its own e-commerce platform, with multilingual, multicurrency websites delivering to over 190 countries, the Group continues to build its overseas presence.
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Gareth Bevan | |
2 | Reason for the notification | ||
a) | Position/status | Chief Commercial Officer | |
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 | 2138005H4W74HDGSFC49 | |
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 10 pence each ("Ordinary Shares")
GB00BW9PJQ87 | |
b) | Nature of the transaction | Exercise of options over Ordinary Shares pursuant to the Company's Long Term Incentive Plan | |
c)
| Price(s) and volume(s)
| Price | Volume |
£nil | 6,825 | ||
d) | Aggregated information - Aggregated volume - Price
|
N/A - single transaction
| |
e) | Date of the transaction | 2 August 2021 | |
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Chris Scott | |
2 | Reason for the notification | ||
a) | Position/status | Chief Financial Officer | |
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 | 2138005H4W74HDGSFC49 | |
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 10 pence each ("Ordinary Shares")
GB00BW9PJQ87 | |
b) | Nature of the transaction | Exercise of options over Ordinary Shares pursuant to the Company's Long Term Incentive Plan | |
c)
| Price(s) and volume(s)
| Price | Volume |
£nil | 5,850 | ||
d) | Aggregated information - Aggregated volume - Price
|
N/A - single transaction
| |
e) | Date of the transaction | 2 August 2021 | |
f) | Place of the transaction | Outside a trading venue |
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