Grafenia plc Director/PDMR Shareholding (1647L)
April 28 2020 - 5:30AM
UK Regulatory
TIDMGRA
RNS Number : 1647L
Grafenia plc
28 April 2020
28 April 2020
Grafenia plc
("Grafenia", the "Group" or "Company")
Share Stake Scheme and Director/PDMR notification
Grafenia (AIM: GRA) announces the launch of a new Share Stake
Scheme (the "Scheme"). This allows team members to elect to forgo a
proportion of their remuneration receivable from the Company, in
return for the receipt of new ordinary shares of one penny each in
the Company ("New Ordinary Shares").
All of the Executive Directors have elected to receive between
20% and 30% of their monthly net remuneration in New Ordinary
Shares from 1 April 2020 for a period of seven months. Non
Executive Directors have elected to receive 100% of their fees in
New Ordinary Shares for the same period. The Company's Chairman,
Jan-Hendrik Mohr, has also donated his fee to "The Chairman's Seam
Team Fund" for the same period.
The total number of New Ordinary Shares that will be issued to
Directors under the Scheme is 649,310, representing 0.57% of the
Company's enlarged issued share capital.
Jan-Hendrik Mohr, said "Since the outbreak of the pandemic, our
teams have been working hard to support our clients, partners and
each other. We've launched new products and initiatives in an
attempt to help. Last week, we launched www.animasks.co.uk - a
range of stylish animal face covers. We're donating 100% of all
sales proceeds to NHS Charities. Today I'm announcing The
Chairman's Seam Team Fund. I'm donating my director's fee to
support the fund. The fund will provide up to 100 sewing machines
to seamsters who have been furloughed or made redundant because of
Coronavirus. We're asking people who can sew to volunteer to the
cause. To make AniMasks and support the NHS by visiting
www.animasks.co.uk/volunteer "
Team members are also now being invited to participate in the
Scheme. It provides members of the Grafenia team the opportunity to
become shareholders, or increase their existing shareholdings,
whilst also enabling the Company to conserve cash resources during
the ongoing COVID-19 crisis.
Peter Gunning, CEO of Grafenia said "Leadership Value #14 for
our team members is 'Think like an owner'. The best way we know to
achieve this is actually becoming an owner, as a shareholder. Many
team members participated in our 3 year Save-as-you-Earn scheme,
which matured last month. The timing of that wasn't great, to say
the least. So, we're inviting team members to become Grafenia
shareholders a different way. Those that are helping the Company
conserve cash at the moment, will hopefully be rewarded when we
come out the other side."
All New Ordinary Shares in respect of the Scheme will be issued
in December 2020, at a price of 7.75p per share, which is above the
current market price and the same as the exercise price of share
options, which matured under the Company's Save as You Earn share
scheme on 1 March 2020.
The total number of New Ordinary Shares that may be issued under
the Scheme is capped at 3,000,000, representing 2.6% of the
Company's enlarged issued share capital. The final number of New
Ordinary Shares to be issued will depend on the level of
participation in the Scheme by currently non-furloughed employees
and potential additional participation by employees returning from
furlough leave. The final number of New Ordinary Shares to be
issued in respect of the Scheme will be announced in December 2020,
along with the Directors' resulting percentage shareholdings.
Further details and the information required in accordance with
the requirements of Article 19(3) of the EU Market Abuse Regulation
No 596/2014 are set out at the end of this announcement.
Grafenia plc
07973 191
Peter Gunning (Chief Executive Officer) 632
Allenby Capital Limited (Nominated Adviser
and broker)
0203 328
David Hart / Liz Kirchner / Nicholas Chambers 5656
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name PDMRs: Peter Gunning Chief Executive Officer
Iain Brown Group Finance Director
Gavin Cockerill Chief Operating Officer
Conrad Bona Non-Executive Director
Simon Barrell Non-Executive Director
Director & Company
Richard Lightfoot Secretary
------------------------------- ---------------------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------------------
a) Position/status See 1a) above
------------------------------- ---------------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ---------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Grafenia plc
------------------------------- ---------------------------------------------------
b) LEI 213800OKTI2518K5KM22
------------------------------- ---------------------------------------------------
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 Ordinary shares of 1p each in Grafenia
Financial instrument, plc
type of instrument
Identification code GB0009638130
------------------------------- ---------------------------------------------------
b) Nature of the transaction Acquisition of Ordinary Shares in
lieu of a proportion of remuneration
(Share Stake Scheme).
------------------------------- ---------------------------------------------------
c) Price(s) and volume(s) Price: 7.75p
Volumes: Peter Gunning 231,355
Iain Brown 84,208
Gavin Cockerill 87,644
Conrad Bona 83,588
Simon Barrell 85,358
Richard Lightfoot 77,166
------------------------------- ---------------------------------------------------
d) Aggregated information: n/a
Aggregated volume
Price
------------------------------- ---------------------------------------------------
e) Date of the transaction 28 April 2020
------------------------------- ---------------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- ---------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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