TIDMTPX
RNS Number : 9090U
Panoply Holdings PLC (The)
09 April 2021
9 April 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 307,566 new ordinary shares of 1 pence each in respect
of outstanding acquisition consideration totalling GBP637,339
("Earnout Shares") and 4,192 new ordinary shares of 1 pence in
respect of the Share Incentive Plan ("SIP").
The SIP Trustees (Cytec Trustees Limited) acquired a total of
4,192 shares (the "Partnership Shares") on 8 April 2021 at a price
of GBP2.60 per Ordinary Share and total cost of GBP10,899. 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 April 2021, the SIP Trustees also allocated a
total of 4,192 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 Shares Partnership Shares Matching Shares Total Shares post Percentage of
issued acquired issued issue (including issued share
shares held by capital
the SIP on behalf
of the relevant
PDMR)
Neal Gandhi 51,710 57 57 10,112,824 12.5%
------------------- ------------------- ------------------- ------------------ -------------------
Oliver Rigby 1,494 57 57 5,099,389 6.3%
------------------- ------------------- ------------------- ------------------ -------------------
Remaining value of acquisition consideration to be issued
Following the issue, the Company has additional consideration to
pay totalling GBP9,432,434. The maximum further shares to be issued
as a result of this consideration is 12,162,965, which reduces to
3,849,973 assuming the share price remained constant at GBP2.45,
being the closing mid-market price on 1 April 2021. Further details
of the share issues are set out below:
Value GBP'000s Minimum share price Max shares to be issued '000s Shares to be issued calculated based on price
of GBP2.45
5,301 74p 7,165 2,164
-------------------- ------------------------------ -----------------------------------------------
1,306 82p 1,593 533
-------------------- ------------------------------ -----------------------------------------------
838 82.5p 1,015 342
-------------------- ------------------------------ -----------------------------------------------
1,987 83.125p 2,390 811
-------------------- ------------------------------ -----------------------------------------------
9,432 12,163 3,850
-------------------- ------------------------------ -----------------------------------------------
Timing of payment of acquisition Value GBP'000s
consideration
Within the next 6 months 4,849
--------------
Between 6-12 months 1,908
--------------
After 12 months 2,675
--------------
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 14 April 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 80,740,118 Ordinary Shares in issue and no
Ordinary Shares in treasury. Therefore, the total voting rights in
The Panoply will be 80,740,118. 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 /Amendment Initial notification
----------------------------------------------------------- --------------------------------------------------
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 the financial instrument, type of Ordinary Shares
instrument
----------------------------------------------------------- --------------------------------------------------
Identification code ISIN: GB00BGGK0V60
----------------------------------------------------------- --------------------------------------------------
b) Nature of the transaction Receipt of vendor consideration shares and
purchase and allocation of Partnership and
Matching Shares, respectively, under The
Panoply Holdings PLC Share Incentive Plan
----------------------------------------------------------- --------------------------------------------------
c) Price(s) and volume(s) Earnout Shares:
7,472 ordinary shares at 199.90 p
44,238 ordinary shares at 226.23p
Matching Shares:
57 ordinary shares at 260p
Partnership Shares:
57 ordinary shares at 260p
--------------------------------------------------
d) Aggregated information Earnout Shares:
51,710 shares
GBP115,016
----------------------------------------------------------- --------------------------------------------------
- Aggregated volume Matching Shares:
57 shares
GBP148
----------------------------------------------------------- --------------------------------------------------
- Price Partnership Shares:
57 shares
GBP148
----------------------------------------------------------- --------------------------------------------------
e) Date of the transaction 9 April 2021
----------------------------------------------------------- --------------------------------------------------
f) Place of the transaction Earnout Shares and Matching 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 /Amendment Initial notification
----------------------------------------------------------- --------------------------------------------------
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 the financial instrument, type of Ordinary Shares
instrument
----------------------------------------------------------- --------------------------------------------------
Identification code ISIN: GB00BGGK0V60
----------------------------------------------------------- --------------------------------------------------
b) Nature of the transaction Receipt of vendor consideration shares and
purchase and allocation of Partnership and
Matching Shares, respectively, under The
Panoply Holdings PLC Share Incentive Plan
----------------------------------------------------------- --------------------------------------------------
c) Price(s) and volume(s) Earnout Shares:
1,494 ordinary shares at 199.90 p
Matching Shares:
57 ordinary shares at 260 p
Partnership Shares:
57 ordinary shares at 260 p
--------------------------------------------------
d) Aggregated information Earnout Shares:
1,494 shares
GBP2,987
----------------------------------------------------------- --------------------------------------------------
- Aggregated volume Matching Shares:
57 shares
GBP148
----------------------------------------------------------- --------------------------------------------------
- Price Partnership Shares:
57 shares
GBP148
----------------------------------------------------------- --------------------------------------------------
e) Date of the transaction 9 April 2021
----------------------------------------------------------- --------------------------------------------------
f) Place of the transaction Earnout Shares and Matching Shares took
place outside a trading venue
Partnership Shares acquired on AIM
----------------------------------------------------------- --------------------------------------------------
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END
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