TIDMACRL
RNS Number : 3368G
Accrol Group Holdings PLC
23 July 2021
23 July 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Accrol Group Holdings plc
("Accrol" or the "Company")
Exercise of Options, Director Dealings and Total Voting
Rights
Accrol (AIM:ACRL), the UK's leading independent tissue
convertor, announces the Company has today issued 7,523,465 new
ordinary shares of GBP0.001 each ("Ordinary Shares") in the Company
(the "Option Shares") pursuant to the exercise of options
("Options") under the Accrol Group Management Incentive Plan (the
"Accrol MIP"). The Options were granted on 15 May 2018 and vested
and became exercisable from 14 July 2021 in accordance with the
rules of the Accrol MIP.
The Options were exercised by Dan Wright (Executive Chairman),
Gareth Jenkins (Chief Executive Officer), two other PDMRs and one
other employee (the "Share Option Participants"). Details in
relation to the Option Shares issued to the two directors and the
two other PDMRs are contained in the table below.
Some of the Share Option Participants have today sold, in
aggregate, 2,962,566 Option Shares at a price of GBP0.43 per Option
Share only in order to finance the cost of exercising the options,
the resulting income tax and National Insurance liabilities. Dan
Wright sold no shares to fund the liabilities arising from the
exercise of his options.
Following the exercise of Options and the sale of Option Shares,
a total of 6,193,773 Ordinary Shares, which are still held by Share
Option Participants, are subject to lock in arrangements whereby
4,957,404 Ordinary Shares cannot be sold until 1 August 2021 and
1,236,369 Ordinary Shares cannot be sold until 23 July 2022.
Following the exercise and sale of Option Shares by the Share
Option Participants, the below directors and PDMRs have increased
their aggregate holdings from 5.02% to 6.31% of the issued share
capital of the Company. The table below details their interests in
the share capital of the Company:
Number Resulting
% of of Ordinary total % of
total Shares Number number enlarged
Ordinary issued over which of Ordinary of Ordinary issued
Shares share Options Shares Shares share
D irector P osition held previously capital exercised sold held capital
Executive
Dan Wright Chairman 9,972,726 3.20% 1,310,259 Nil 11,282,985(2) 3.54%
------------ ----------------- --------- ------------- ------------- -------------- ----------
Chief
Gareth Executive
Jenkins Officer 4,265,632 1.37% 2,198,466 1,041,169 5,422,929(3) 1.70%
------------ ----------------- --------- ------------- ------------- -------------- ----------
Mark
Dewhurst PDMR 1,045,975 0.34% 2,000,690 967.565 2,079,100 0.65%
------------ ----------------- --------- ------------- ------------- -------------- ----------
Graham
Cox PDMR 350,970 0.11% 1,856,093(1) 879,025 1,328,038 0.42%
------------ ----------------- --------- ------------- ------------- -------------- ----------
TOTAL 15,635,303 5.02% 7,365,508 2,887,759 20,113,052 6.31%
----------------- --------- ------------- ------------- -------------- ----------
(1) This number includes a discretionary award that was made
to Graham Cox by Accrol's Remuneration Committee under
the Accrol MIP of options over 1,060,638 Option Shares
(2) 8,244,155 of these shares are registered in the name of
Gomrath Limited, a family investment company controlled
by Dan Wright
(3) 3,741,346 of these shares are registered in the name of
Gareth's wife Susan Jenkins
Following the above exercise of Options, there are no longer any
unexercised options over Ordinary Shares under the Accrol MIP.
Admission and Total Voting Rights
Application has been made for the 7,523,465 new Ordinary Shares
to be admitted to trading on AIM ("Admission"). It is expected that
Admission and dealings in those shares will commence at 8.00 a.m.
on 28 July 2021.
The Company advises that, immediately following Admission, there
will be 318,878,097 Ordinary Shares in issue, with one voting right
each. The Company does not hold any shares in treasury. The number
of Ordinary Shares with voting rights will therefore be
318,878,097. Accordingly, this number should 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 Company under the FCA's
Disclosure Guidance and Transparency Rules.
The notification 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, provides
further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
Details of the person discharging managerial
1 responsibilities / person closely associated
a) Name Dan Wright
--------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Executive Chairman
--------------------- ------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ------------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Accrol Group Holdings plc
--------------------- ------------------------------------------
b) LEI 213800MC56M5G69RJ226
--------------------- ------------------------------------------
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 Ordinary shares of GBP0.001
of the financial each
instrument,
type of instrument
Identification
code ISIN: GB00BZ6VT592
--------------------- ------------------------------------------
b) Nature of Exercise of options
the transaction
--------------------- ------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP0.001 1,310,259
----------
--------------------- ------------------------------------------
d) Aggregated
information N/A - Single transaction
- Aggregated
volume
- Price
--------------------- ------------------------------------------
e) Date of the 23 J uly 2021
transaction
--------------------- ------------------------------------------
f) Place of the London Stock Exchange, AIM
transaction
--------------------- ------------------------------------------
Details of the person discharging managerial
1 responsibilities / person closely associated
a) Name Gareth Jenkins
--------------------- ------------------------------------
2 Reason for the notification
-----------------------------------------------------------
a) Position/status CEO
--------------------- ------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
-----------------------------------------------------------
a) Name Accrol Group Holdings plc
--------------------- ------------------------------------
b) LEI 213800MC56M5G69RJ226
--------------------- ------------------------------------
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 Ordinary shares of GBP0.001
of the financial each
instrument,
type of instrument
Identification
code ISIN: GB00BZ6VT592
--------------------- ------------------------------------
b) Nature of (i) Exercise of options
the transaction (ii) Sale of Ordinary shares
--------------------- ------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) (i) GBP0.001 2,198,466
(ii) GBP0.43 1,041,169
-----------
--------------------- ------------------------------------
d) Aggregated
information (i) Price - GBP0.001
- Aggregated Volume - 2,198,466
volume
- Price (ii) Price - GBP0.43
Volume - 1,041,169
--------------------- ------------------------------------
e) Date of the 23 J uly 2021
transaction
--------------------- ------------------------------------
f) Place of the London Stock Exchange, AIM
transaction
--------------------- ------------------------------------
Details of the person discharging managerial
1 responsibilities / person closely associated
a) Name Mark Dewhurst
--------------------- ------------------------------------
2 Reason for the notification
-----------------------------------------------------------
a) Position/status PDMR
--------------------- ------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
-----------------------------------------------------------
a) Name Accrol Group Holdings plc
--------------------- ------------------------------------
b) LEI 213800MC56M5G69RJ226
--------------------- ------------------------------------
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 Ordinary shares of GBP0.001
of the financial each
instrument,
type of instrument
Identification
code ISIN: GB00BZ6VT592
--------------------- ------------------------------------
b) Nature of (i) Exercise of options
the transaction (ii) Sale of Ordinary shares
--------------------- ------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) (iii) GBP0.001 2,000,690
(iv) GBP0.43 967,565
----------
--------------------- ------------------------------------
d) Aggregated
information (i) Price - GBP0.001
- Aggregated Volume - 2,000,690
volume
- Price (ii) Price - GBP0.43
Volume - 967,565
--------------------- ------------------------------------
e) Date of the 23 J uly 2021
transaction
--------------------- ------------------------------------
f) Place of the London Stock Exchange, AIM
transaction
--------------------- ------------------------------------
Details of the person discharging managerial
1 responsibilities / person closely associated
a) Name G raham Cox
--------------------- ------------------------------------
2 Reason for the notification
-----------------------------------------------------------
a) Position/status P DMR
--------------------- ------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- ------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
-----------------------------------------------------------
a) Name Accrol Group Holdings plc
--------------------- ------------------------------------
b) LEI 213800MC56M5G69RJ226
--------------------- ------------------------------------
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 Ordinary shares of GBP0.001
of the financial each
instrument,
type of instrument
Identification
code ISIN: GB00BZ6VT592
--------------------- ------------------------------------
b) Nature of (i) Exercise of options
the transaction (ii) Sale of Ordinary shares
--------------------- ------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) (iii) GBP0.001 1,856,093
(iv) GBP0.43 879,025
----------
--------------------- ------------------------------------
d) Aggregated
information (i) Price - GBP0.001
- Aggregated Volume - 1,856,093
volume
- Price (ii) Price - GBP0.43
Volume - 879,025
--------------------- ------------------------------------
e) Date of the 23 J uly 2021
transaction
--------------------- ------------------------------------
f) Place of the London Stock Exchange, AIM
transaction
--------------------- ------------------------------------
For further information, please contact:
Accrol Group Holdings plc
Dan Wright, Executive Chairman Via Belvedere Communications
Gareth Jenkins, Chief Executive Officer
Richard Newman, Chief Financial Officer
Zeus Capital Limited (Nominated Adviser
& Broker)
Dan Bate / Jordan Warburton Tel: +44 (0) 161 831 1512
Dominic King / John Goold Tel: +44 (0) 203 829 5000
Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20 3100 2222
Clayton Bush / Edward Thomas
Belvedere Communications Limited
Cat Valentine Tel: +44 (0) 7715 769 078
Keeley Clarke Tel: +44 (0) 7967 816 525
Llew Angus Tel: +44 (0) 7407 023 147
accrolpr@belvederepr.com
Overview of Accrol
Accrol Group Holdings plc is a leading tissue converter and
supplier of toilet tissues, kitchen rolls, facial tissues, and wet
wipes to many of the UK's leading discounters and grocery retailers
across the UK. Following the recent acquisitions of LTC in
Leicester and JD in Flint, North Wales, the Group now operates from
six manufacturing sites, including four in Lancashire, which
generate revenues totalling c.16% of the GBP2.1bn UK retail tissue
market.
For more information, please visit www.accrol.co.uk
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END
DSHFLFFVDDIVFIL
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July 23, 2021 09:31 ET (13:31 GMT)
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