TIDMTPX
RNS Number : 8336E
Panoply Holdings PLC (The)
12 July 2021
12 July 2021
The Panoply Holdings PLC
("The Panoply", or the "Group")
Issue of Shares and PDMR Dealings
The Panoply Holdings Plc, the digitally-enabled technology
services group focused on digital transformation, announces that
the Group has today issued 224,339 new ordinary shares of 1 pence
each in respect of outstanding acquisition consideration totalling
GBP637,339 ("Earnout Shares") and 3,888 new ordinary shares of 1
pence in respect of the Share Incentive Plan ("SIP").
The SIP Trustees (Cytec Trustees Limited) acquired a total of
3,888 shares (the "Partnership Shares") on 9 June 2021 at a price
of GBP2.733 per Ordinary Share and total cost of GBP10,626. 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 9 July 2021, the SIP Trustees also allocated a
total of 3,888 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 of issued
issued issued shares held by share capital
the SIP on behalf
of the relevant
PDMR)
Neal
Gandhi 39,620 5 5 5 5 10, 237,704 12. 3%
-------- ----------------- --------- ------------------- ---------------
Oliver
Rigby 1,034 5 5 5 5 5, 103,199 6. 1%
-------- ----------------- --------- ------------------- ---------------
Remaining value of acquisition consideration to be issued
Following the issue, the Company has additional consideration to
pay totalling GBP 7,957,947 which includes the additional
consideration payable to the sellers of Greenshoot Labs Limited and
Difrent Limited on the publication of the Group's 31 March 2021
annual report, as per the respective acquisition agreements. The
maximum further shares to be issued as a result of this
consideration is 9,909,057, which reduces to 2,816,972 assuming the
share price remained constant at GBP2.825, being the closing
mid-market price on 2 July 2021. Further details of the share
issues are set out below:
Value Minimum share Max shares to Shares to be issued calculated
GBP'000s price be issued '000s based on price of GBP2.
825
3,390 74p 4,581 1,200
-------------- ----------------- -------------------------------
1,306 82p 1,593 463
-------------- ----------------- -------------------------------
769 82.5p 932 272
-------------- ----------------- -------------------------------
1,987 83.125p 2,390 703
-------------- ----------------- -------------------------------
506 122.5p 413 179
-------------- ----------------- -------------------------------
7,958 9,909 2,817
-------------- ----------------- -------------------------------
Timing of payment of acquisition Value GBP'000s
consideration
Within the next 6 months 4,310
--------------
Between 6-12 months 1,848
--------------
After 12 months 1,800
--------------
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 1 5 July 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 83,399,712 Ordinary Shares in issue and no
Ordinary Shares in treasury. Therefore, the total voting rights in
The Panoply will be 83,399,712. 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 +44 (0)207
Limited 710 7600
(Nomad and Joint Broker)
Fred Walsh
Alex Price
Dowgate Capital Limited
(Joint Broker)
James Serjeant +44 (0)203
David Poutney 903 7715
Alma PR panoply@almapr.co.uk
(Financial PR) +44(0)203 405
Susie Hudson 0209
Kieran Breheny
Matthew Young
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, the Group collaborates with its clients to deliver the
technology outcomes they're looking for at the pace that they
expect and demand.
The Group is being increasingly recognised as a leading
alternative digital transformation provider to the UK public
services sector, with 71% of its client base representing public
services and 29% representing the commercial sector.
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 shares and
transaction 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:
5,173 ordinary shares at 288.75p
34,447 ordinary shares at 273.63p
Matching Shares:
55 ordinary shares at 273.3p
Partnership Shares:
55 ordinary shares at 273.3p
----------------------------------------------------
d) Aggregated information Earnout Shares:
39,620 shares
GBP109,194
- Aggregated volume Matching Shares:
55 shares
GBP150
- Price Partnership Shares:
55 shares
GBP150
------------------------- --------------------------------------------------
e) Date of the transaction 12 July 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 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 shares and
transaction 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:
1,034 ordinary shares at 288.75p
Matching Shares:
55 ordinary shares at 273.3p
Partnership Shares:
55 ordinary shares at 273.3p
----------------------------------------------------
d) Aggregated information Earnout Shares:
1,034 shares
GBP2,986
- Aggregated volume Matching Shares:
55 shares
GBP150
- Price Partnership Shares:
55 shares
GBP150
------------------------- --------------------------------------------------
e) Date of the transaction 12 July 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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