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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July 23, 2021 09:31 ET (13:31 GMT)

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