TIDMTPX
RNS Number : 0757I
Panoply Holdings PLC (The)
10 August 2021
10 August 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 239,814 new ordinary shares of 1 pence
each in respect of outstanding acquisition consideration totalling
GBP637,339 ("Earnout Shares") and 4,614 new ordinary shares of 1
pence in respect of the Share Incentive Plan ("SIP").
The SIP Trustees (Cytec Trustees Limited) acquired a total of
4,614 shares (the "Partnership Shares") on 9 August 2021 at a price
of GBP2.40 per Ordinary Share and total cost of GBP11,074. 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 August 2021, the SIP Trustees also allocated a
total of 4,614 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 40,071 62 62 10, 277,899 12. 3%
-------- ----------------- --------- ------------------- ---------------
Oliver
Rigby 1,114 62 62 5, 104,437 6. 1%
-------- ----------------- --------- ------------------- ---------------
Remaining value of acquisition consideration to be issued
Following the issue, the Company has additional consideration to
pay totalling GBP 7,320,608. The maximum further shares to be
issued as a result of this consideration is 9,047,787, which
reduces to 3,082,361 assuming the share price remained constant at
GBP2.375, being the closing mid-market price on 3 August 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.
375
2,753 74p 3,720 1,159
-------------- ----------------- -------------------------------
1,306 82p 1,593 550
-------------- ----------------- -------------------------------
769 82.5p 932 324
-------------- ----------------- -------------------------------
1,987 83.125p 2,390 836
-------------- ----------------- -------------------------------
506 122.5p 413 213
-------------- ----------------- -------------------------------
7,321 9,048 3,082
-------------- ----------------- -------------------------------
Timing of payment of acquisition Value GBP'000s
consideration
Within the next 6 months 3,866
--------------
Between 6-12 months 1,848
--------------
After 12 months 1,607
--------------
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 3 August 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 83,644,140 Ordinary Shares in issue and no
Ordinary Shares in treasury. Therefore, the total voting rights in
The Panoply will be 83,644,140. 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
(Nomad and Joint Broker) +44 (0)207 710
7600
Fred Walsh
Alex Price
Dowgate Capital Limited
(Joint Broker)
James Serjeant +44 (0)203 903
David Poutney 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:
5,571 ordinary shares at 268.10p
34,500 ordinary shares at 260.28p
Matching Shares:
62 ordinary shares at 240p
Partnership Shares:
62 ordinary shares at 240p
--------------------------------------------------
d) Aggregated information Earnout Shares:
40,071 shares
GBP104,732
- Aggregated volume Matching Shares:
62 shares
GBP150
- Price Partnership Shares:
62 shares
GBP150
------------------------- ----------------------------------------------------
e) Date of the transaction 10 August 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:
1,114 ordinary shares at 268.10p
Matching Shares:
62 ordinary shares at 240p
Partnership Shares:
62 ordinary shares at 240p
--------------------------------------------------
d) Aggregated information Earnout Shares:
1,114 shares
GBP2,987
- Aggregated volume Matching Shares:
62 shares
GBP150
- Price Partnership Shares:
62 shares
GBP150
------------------------- ----------------------------------------------------
e) Date of the transaction 10 August 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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