TIDMWJG

RNS Number : 5577E

Watkin Jones plc

04 July 2019

 
For immediate release  4 July 2019 
 

Watkin Jones plc

('Watkin Jones', the 'Group' or the 'Company')

Director/PDMR Shareholding

Total Voting Rights

Watkin Jones plc (AIM: WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation and build to rent sectors, announces that on 1 July 2019, Richard Simpson, Chief Executive Officer, exercised 453,224 awards granted over ordinary shares of 1 penny each in the Company (the "Ordinary Shares") under the Watkin Jones Recruitment Plan (the "Awards").

Accordingly, application has been made for 453,224 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 5 July 2019.

In conjunction with the exercise of the Awards, Mr Simpson sold 216,900 Ordinary Shares in order to pay the option price for the shares of 1 penny per share and to discharge the tax liabilities arising as the table below summarises:

 
 Award                Number of Ordinary     Number of Ordinary   Balance of Ordinary 
                        Shares exercised         Shares sold to       Shares retained 
                        under the Awards         pay the option 
                                            price and discharge 
                                                tax liabilities 
-------------------  -------------------  ---------------------  -------------------- 
 2015 Buyout Award                92,480                    Nil                92,480 
 2016 Buyout Award               360,744                216,900               143,844 
 

The 2016 Awards are subject to a two year holding period from their vesting date of 23 June 2019. In addition, no further sale of the retained Ordinary Shares relating to the Awards referenced above will be permitted until such time as Mr Simpson holds a value of Ordinary Shares equivalent to 200% of his salary.

Following the transactions, Mr Simpson has an interest in 236,324 Ordinary Shares representing 0.09 per cent. of the issued share capital of the Company.

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following this transaction its issued share capital will consist of 255,722,099 Ordinary Shares of 1 penny each. Shareholders may use this figure 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.

For further information:

 
Watkin Jones plc 
Richard Simpson, Chief Executive                  Tel: +44 (0) 1248 362 516 
 Officer 
Philip Byrom, Chief Financial                        www.watkinjonesplc.com 
 Officer 
 
Peel Hunt LLP (Nominated Adviser & Joint Corporate     Tel: +44 (0) 20 7418 
 Broker)                                                               8900 
Mike Bell / Ed Allsopp                                     www.peelhunt.com 
 
 
Jefferies Hoare Govett (Joint Corporate Broker)        Tel: +44 (0) 20 7029 
                                                                       8000 
Max Jones / Will Soutar                                   www.jefferies.com 
 
 

Media enquiries:

 
Buchanan 
Henry Harrison-Topham / Richard Oldworth   Tel: +44 (0) 20 7466 5000 
 Jamie Hooper / Steph Watson 
watkinjones@buchanan.uk.com                      www.buchanan.uk.com 
 

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                     Richard Simpson 
      ---------------------------------------  --------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------------- 
 a)    Position/status                          Chief Executive Officer 
      ---------------------------------------  --------------------------------------- 
 b)    Initial notification                     Initial notification 
        /Amendment 
      ---------------------------------------  --------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------- 
 a)    Name                                     Watkin Jones plc 
      ---------------------------------------  --------------------------------------- 
 b)    LEI                                      2138009X19O21NU5SG79 
      ---------------------------------------  --------------------------------------- 
 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                       Awards over ordinary shares of 1 
        financial instrument,                    pence each 
        type of instrument 
       Identification code                      ISIN: GB00BD6RF223 
      ---------------------------------------  --------------------------------------- 
 b)    Nature of the transaction                Exercise of awards over Ordinary 
                                                 Shares of 1 pence each 
      ---------------------------------------  --------------------------------------- 
 c)    Price(s) and volume(s) 
                                                -----------------  ----------------- 
                                                 Price(s)           Volume(s) 
                                                -----------------  ----------------- 
    1 penny                                                         453,224 
   --------------------------------------------------------------  ----------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                      453,224 
 
  - Price                                  GBP4,532.24 
 
 e)    Date of the transaction                  1 July 2019 
      ---------------------------------------  --------------------------------------- 
 f)    Place of the transaction                 Outside trading venue 
      ---------------------------------------  --------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                  Richard Simpson 
      ------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      -------------------------------------------------------------------------------- 
 a)    Position/status                       Chief Executive Officer 
      ------------------------------------  ------------------------------------------ 
 b)    Initial notification                  Initial notification 
        /Amendment 
      ------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------- 
 a)    Name                                  Watkin Jones plc 
      ------------------------------------  ------------------------------------------ 
 b)    LEI                                   2138009X19O21NU5SG79 
      ------------------------------------  ------------------------------------------ 
 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 1 pence each 
        financial instrument, 
        type of instrument 
       Identification code                   ISIN: GB00BD6RF223 
      ------------------------------------  ------------------------------------------ 
 b)    Nature of the transaction             Sale of Ordinary Shares of 1 pence 
                                              each 
      ------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
                                                   --------------  --------------- 
                                                    Price(s)        Volume(s) 
                                                   --------------  --------------- 
                                                    206.1p          44,400 
                                                     205.0p          172,500 
                                                   --------------  --------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                   216,900 
 
  - Price                               GBP445,132.37 
 
 e)    Date of the transaction               3 July 2019 
      ------------------------------------  ------------------------------------------ 
 f)    Place of the transaction              London Stock Exchange, AIM 
      ------------------------------------  ------------------------------------------ 
 

Notes to Editors

Watkin Jones is a leading UK developer and constructor of multi-occupancy residential property assets, with a focus on the student accommodation and build to rent sectors. The Group has strong relationships with institutional investors, and a good reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered 38,000 student beds across 117 sites, making it a key player and leader in the UK purpose built student accommodation market. In addition, the Fresh Property Group, the Group's specialist accommodation management company, manages over 15,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments. The Group is now expanding its operations into the build to rent sector.

The Group's competitive advantage lies in its experienced management team and business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit: www.watkinjonesplc.com

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 Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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