TIDMTPX

RNS Number : 5567R

Panoply Holdings PLC (The)

09 March 2021

9 March 2021

The Panoply Holdings PLC

("The Panoply", or the "Group")

Issue of Shares and PDMR dealings

The Panoply Holdings PLC, the technology-enabled services group focused on digital transformation, announces that the Group has today issued 573,233 new ordinary shares of 1 pence each in respect of outstanding acquisition consideration totalling GBP1,032,288 ("Earnout Shares") and 4,221 new ordinary shares of 1 pence in respect of the Share Incentive Plan ("SIP").

The SIP Trustees (Cytec Trustees Limited) acquired a total of 4,221 shares (the "Partnership Shares") on 8 March 2021 at a price of GBP2.19 per Ordinary Share and total cost of GBP9,244. The Partnership Shares were acquired by purchase in the market and allocated to those Group employees participating in its Share Incentive Plan (SIP) scheme. As set out at the time of the announcement of The Panoply's interim results on 30 November 2020, this SIP Plan is designed to reward and incentivise employees of the Group through tax-efficient salary sacrifice and a free matching award of Ordinary Shares on a one-for-one basis. Accordingly, on 8 March 2021, the SIP Trustees also allocated a total of 4,221 matching shares (the "Matching Shares") under the SIP. The Matching Shares are covered by the Group's block listing as announced on 15 January 2021.

Neal Gandhi and Oliver Rigby received Earnout Shares in respect of the acquisitions, together with Partnership Shares and Matching Shares under the SIP as follows:

 
 Name            Earnout   Partnership        Matching   Total Shares post          Percentage 
                  Shares    Shares acquired    Shares     issue (including shares    of issued 
                  issued                       issued     held by the SIP on         share capital 
                                                          behalf of the relevant 
                                                          PDMR) 
 Neal Gandhi     63,814    69                 69         10,061,000                 12.5% 
                --------  -----------------  ---------  -------------------------  --------------- 
 Oliver Rigby    1,674     69                 69         5,097,781                  6.3% 
                --------  -----------------  ---------  -------------------------  --------------- 
 

Remaining value of acquisition consideration to be issued

Following the issue, the Company has additional consideration to pay totalling GBP10,069,773. The maximum further shares to be issued as a result of this consideration is 13,024,234, which reduces to 4,864,625 assuming the share price remained constant at GBP2.07, being the closing mid-market price on 4 March 2021. Further details of the share issues are set out below:

 
 Value GBP'000s   Minimum share   Max shares to be issued   Shares to be issued 
                   price           '000s                     calculated based on 
                                                             price of GBP2.07 
          5,939             74p                     8,026                  2,869 
                 --------------  ------------------------  --------------------- 
          1,306             82p                     1,593                    631 
                 --------------  ------------------------  --------------------- 
            838           82.5p                     1,015                    405 
                 --------------  ------------------------  --------------------- 
          1,987         83.125p                     2,390                    960 
                 --------------  ------------------------  --------------------- 
         10,070                                    13,024                  4,865 
                 --------------  ------------------------  --------------------- 
 
 
Timing of payment of         Value GBP'000s 
 acquisition consideration 
Within the next 6 months              5,294 
                             -------------- 
Between 6-12 months                   1,908 
                             -------------- 
After 12 months                       2,868 
                             -------------- 
 

Admission to trading and total voting rights

An application has been made for the admission of the Earnout Shares to trading on AIM which is expected to take place on or around 12 March 2021. The Matching Shares are covered by the Group's block listing as announced on 15 January 2021.

Following this issue of Earnout Shares and Matching Shares the Company will have 80,428,360 Ordinary Shares in issue and no Ordinary Shares in treasury. Therefore, the total voting rights in The Panoply will be 80,428,360. T his figure may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Group under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

 
The Panoply Holdings              Via Alma PR 
 Neal Gandhi (CEO) 
 Oliver Rigby (CFO) 
 
 Stifel Nicolaus Europe Limited    +44 (0)207 710 7600 
 (Nomad and Joint Broker) 
Fred Walsh 
 Alex Price 
 
 Dowgate Capital Limited 
 (Joint Broker) 
 James Serjeant 
 David Poutney                      +44 (0)203 903 7715 
Alma PR                           panoply@almapr.co.uk 
 (Financial PR)                    +44(0)203 405 0209 
 Susie Hudson 
 Josh Royston 
 Harriet Jackson 
 

About The Panoply

The Panoply is a digitally native technology services company, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology, design and innovation consulting businesses across Europe, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.

More information is available at www.thepanoply.com

 
 1        Details of the person discharging managerial 
           responsibilities / person closely associated 
 a)   Name                           Neal Gandhi 
     --------------------------     ---------------------------------------- 
 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                           The Panoply Holdings Plc 
     --------------------------     ---------------------------------------- 
 b)   LEI                            2138004S9O18Q6F9MS74 
     --------------------------     ---------------------------------------- 
 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                 Ordinary Shares 
       the financial 
       instrument, type 
       of instrument 
      Identification                 ISIN: GB00BGGK0V60 
       code 
 b)   Nature of the                  Receipt of vendor consideration 
       transaction                    shares and purchase and allocation 
                                      of Partnership and Matching 
                                      Shares, respectively, under 
                                      The Panoply Holdings PLC 
                                      Share Incentive Plan 
 
 c) Price(s) and                       Earnout Shares: 
  volume(s)                             8,372 ordinary shares 
                                        at 178.42 p 
                                        55,442 ordinary shares 
                                        at 180.52p 
                                        Matching Shares: 
                                        69 ordinary shares at 
                                        219p 
 
                                        Partnership Shares: 
                                        69 ordinary shares at 
                                        219p 
                                      -------------------------------- 
 
 d)   Aggregated information         Earnout Shares: 
                                      63,814 shares 
                                      GBP115,021 
      - Aggregated                   Matching Shares: 
       volume                         69 shares 
                                      GBP151.11 
      - Price 
                                       Partnership Shares: 
                                       69 shares 
                                       GBP151.11 
 e)   Date of the transaction        9 March 2021 
 f)   Place of the                   Earnout Shares and Matching 
       transaction                    Shares took place outside 
                                      a trading venue 
 
                                      Partnership Shares acquired 
                                      on AIM 
     --------------------------     ---------------------------------------- 
 
 1        Details of the person discharging managerial 
           responsibilities / person closely associated 
         ------------------------------------------------------------------- 
 a)   Name                           Oliver Rigby 
     --------------------------     ---------------------------------------- 
 2        Reason for the notification 
         ------------------------------------------------------------------- 
 a)   Position/status                Chief Financial Officer 
     --------------------------     ---------------------------------------- 
 b)   Initial notification           Initial notification 
       /Amendment 
     --------------------------     ---------------------------------------- 
 3        Details of the issuer, emission allowance 
           market participant, auction platform, auctioneer 
           or auction monitor 
         ------------------------------------------------------------------- 
 a)   Name                           The Panoply Holdings Plc 
     --------------------------     ---------------------------------------- 
 b)   LEI                            2138004S9O18Q6F9MS74 
     --------------------------     ---------------------------------------- 
 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                 Ordinary Shares 
       the financial 
       instrument, type 
       of instrument 
      Identification                 ISIN: GB00BGGK0V60 
       code 
 b)   Nature of the                  Receipt of vendor consideration 
       transaction                    shares and purchase and allocation 
                                      of Partnership and Matching 
                                      Shares, respectively, under 
                                      The Panoply Holdings PLC 
                                      Share Incentive Plan 
 
 c) Price(s) and                       Earnout Shares: 
  volume(s)                             1,674 ordinary shares 
                                        at 178.42 p 
                                        Matching Shares: 
                                        69 ordinary shares at 
                                        219 p 
 
                                        Partnership Shares: 
                                        69 ordinary shares at 
                                        219 p 
                                      -------------------------------- 
 
 d)   Aggregated information         Earnout Shares: 
                                      1,674 shares 
                                      GBP2,987 
      - Aggregated                   Matching Shares: 
       volume                         69 shares 
                                      GBP151.11 
      - Price 
                                       Partnership Shares: 
                                       69 shares 
                                       GBP151.11 
 e)   Date of the transaction        9 March 2021 
 f)   Place of the                   Earnout Shares and Matching 
       transaction                    Shares took place outside 
                                      a trading venue 
 
                                      Partnership Shares acquired 
                                      on AIM 
     --------------------------     ---------------------------------------- 
 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHSSMESAEFSEED

(END) Dow Jones Newswires

March 09, 2021 02:00 ET (07:00 GMT)

Tpximpact (LSE:TPX)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Tpximpact.
Tpximpact (LSE:TPX)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Tpximpact.