Director/PDMR Shareholding
Updated : 16:47
Avast plc
(the "Company")
1 October 2018
Director/PDMR Shareholding
The Company received notification from John Schwarz (Chairman of the Company) of his gift of his entire holding of 2,918,330 ordinary shares in the Company in equal amounts to two trusts, the Jan C Schwarz Trust and the Brett G Schwarz Trust (the "Trusts"). The beneficiaries of the Trusts comprise exclusively members of John Schwarz's family.
On 10 May 2018, in connection with the Company's initial public offering, the Company, UBS Limited ("UBS"), Morgan Stanley & Co. International plc ("MS", and together with UBS, the "Joint Global Co-ordinators") and certain other parties, entered into an underwriting agreement. Under the terms of such underwriting agreement, John Schwarz and certain other directors and shareholders agreed that, subject to certain exceptions, during the period of 360 days following admission of the Company's shares to trading on the London Stock Exchange, he would not, without the prior written consent of the Joint Global Co-ordinators dispose of any ordinary shares in the Company (the "Lock-up").
A gift of ordinary shares in the Company to a trust of which the beneficiaries comprise exclusively family members falls within an exception to the above Lock-up provided that the Joint Global Coordinators are satisfied that the identity of the transferee falls within the scope of the exception and that the recipient trust enters into a deed of adherence pursuant to which it agrees to be bound by the terms of the Lock-up for the balance of the unexpired period.
The Joint Global Co-ordinators have provided the confirmation described above and the trustees of the Trusts have each entered into such deeds of adherence.
The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to this transaction is set out below:
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||
a) | Name | JOHN SCHWARZ | ||||||||||
2 | Reason for the notification | |||||||||||
a) | Position/status | NON-EXECUTIVE DIRECTOR, CHAIRMAN OF THE BOARD OF DIRECTORS | ||||||||||
b) | Initial notification /Amendment | INITIAL NOTIFICATION | ||||||||||
3 | Details of the issuer | |||||||||||
a) | Name | Avast plc | ||||||||||
b) | LEI | 213800IR8G8LC2H4BO27 | ||||||||||
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 GBP 0.10 EACH IN AVAST PLC (ISIN: GB00BDD85M81)
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b) | Nature of the transaction | GIFT OF SHARES TO FAMILY TRUSTS
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c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |
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e) | Date of the transaction | 28 September 2018 | ||||||||||
f) | Place of the transaction | LONDON STOCK EXCHANGE (XLON)
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Alan Rassaby
Company Secretary
Avast Plc.
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