TIDMBLV
RNS Number : 5386J
Belvoir Lettings PLC
05 December 2018
5 December 2018
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
BELVOIR LETTINGS PLC
(the "Company", "the Group" or "Belvoir")
Director/ PDMR Dealing
Belvoir Lettings plc (AIM: BLV), has been notified that on 4
December 2018, Mike Goddard, Chairman of the Company, sold
1,065,431 ordinary shares of 1p each in the Company ("Ordinary
Shares") to the vendors of Northwood at 92.9p each.
The acquisition of Northwood in June 2016 was subject to a two
year earn out. During the two years under review, EBITDA
performance increased by 51% from GBP1,069,000 to GBP1,616,000
against which a final consideration payment of GBP3,959,000 was
due. Settlement of the final payment in either cash or shares was
at the discretion of the Board. Feedback from institutional
investors clearly supported 100% cash settlement, if possible.
Accordingly, Mike Goddard has made available 1,065,431 shares,
enabling the Northwood vendors to take 25% of their collective
final cash consideration in shares thereby, retaining a stake in
the business that they had so successfully built over the past 23
years.
As a result, the following transfer of shares from Mike Goddard
took place:
Transferee No. of shares Previous holding Subsequent Percentage
holding holding
Andrew David Goodson 733,869 555,339 1,289,208 3.69%
-------------- ----------------- ----------- -----------
Gemma Goodson 244,623 185,113 429,736 1.23%
-------------- ----------------- ----------- -----------
William Eric Walker 32,602 21,713 54,315 0.16%
-------------- ----------------- ----------- -----------
Philip Allan Gee 21,735 16,447 38,182 0.11%
-------------- ----------------- ----------- -----------
Victoria Alexander 21,735 16,447 38,182 0.11%
-------------- ----------------- ----------- -----------
Nicholas Mark Harris 10,867 8,224 19,091 0.05%
-------------- ----------------- ----------- -----------
Both William Eric Walker and Phillip Allan Gee continue to be
employed by the Belvoir Group as Group Managing Director and
Northwood Managing Director respectively and are regarded as
PDMRs.
Following this transaction Mike Goddard holds 4,506,490 Ordinary
Shares, representing approximately 12.9% of total issued share
capital and voting rights of the company.
Furthermore, the option period for options held by Dorian
Gonsalves under the Belvoir Lettings PLC Unapproved Share Option
Plan over 163,399 shares due to expire on 31(st) December 2018 has
been extended to 31(st) December 2020.
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
----- -----------------------------------------------------------------------------------
a. Name Mike Goddard
-----------------------------------------------------
2 Reason for notification
---------------------------- -----------------------------------------------------
a. Position/Status Chairman
---------------------------- -----------------------------------------------------
b. Initial notification/ Initial Notification
Amendment
---------------------------- -----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a. Name Belvoir Lettings PLC
----------------------------
b. LEI N/A
---------------------------- -----------------------------------------------------
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 instrument
ISIN: GB00B4QY1P51
Identification
Code
---------------------------- -----------------------------------------------------
b. Nature of the Sale of Ordinary Shares
transaction
---------------------------- -----------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
---------------------------- -----------
92.9p 1,065,431
----------- -----------
d. Aggregated information
- Aggregated Volume
- Price 1,065,431
92.9p
----------------------------------------------------------------------------------------
e. Date of the transaction 4 December 2018
---------------------------- -----------------------------------------------------
f. Place of the transaction Off-market
---------------------------- -----------------------------------------------------
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
----- ----------------------------------------------------------------------------------
a. Name William Eric Walker
----------------------------------------------------
2 Reason for notification
---------------------------- ----------------------------------------------------
a. Position/Status Group Managing Director (PDMR)
---------------------------- ----------------------------------------------------
b. Initial notification/ Initial Notification
Amendment
---------------------------- ----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a. Name Belvoir Lettings PLC
----------------------------
b. LEI N/A
---------------------------- ----------------------------------------------------
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 instrument
ISIN: GB00B4QY1P51
Identification
Code
---------------------------- ----------------------------------------------------
b. Nature of the Purchase of Ordinary Shares
transaction
---------------------------- ----------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
---------------------------- -----------
92.9p 32,602
----------- -----------
Aggregated information 32,602
- Aggregated Volume
d. - Price 92.9p
---------------------------- ----------------------------------------------------
e. Date of the transaction 4 December 2018
---------------------------- ----------------------------------------------------
f. Place of the transaction Off-market
---------------------------- ----------------------------------------------------
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
----- -----------------------------------------------------------------------------------
a. Name Phillip Allan Gee
-----------------------------------------------------
2 Reason for notification
---------------------------- -----------------------------------------------------
a. Position/Status Northwood Managing Director (PDMR)
---------------------------- -----------------------------------------------------
b. Initial notification/ Initial Notification
Amendment
---------------------------- -----------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a. Name Belvoir Lettings PLC
----------------------------
b. LEI N/A
---------------------------- -----------------------------------------------------
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 instrument
ISIN: GB00B4QY1P51
Identification
Code
---------------------------- -----------------------------------------------------
b. Nature of the Purchase of Ordinary Shares
transaction
---------------------------- -----------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
---------------------------- -----------
92.9p 21,735
----------- -----------
d. Aggregated information
- Aggregated Volume
- Price 21,735
92.9p
----------------------------------------------------------------------------------------
e. Date of the transaction 4 December 2018
---------------------------- -----------------------------------------------------
f. Place of the transaction Off-market
---------------------------- -----------------------------------------------------
For further details:
Belvoir Lettings PLC 01476 584900
Mike Goddard, Chairman investorrelations@belvoirlettings.com
Dorian Gonsalves, Chief Executive Officer
Louise George, Chief Financial Officer
Cantor Fitzgerald Europe
Rick Thompson, Philip Davies, Will Goode
Corporate Finance
Caspar Shand-Kydd, Gregor Paterson
Sales 0207 894 7000
Buchanan 0207 466 5000
Charles Ryland, Madeleine Seacombe, Tilly Abraham belvoir@buchanan.uk.com
Note to Editors:
About Belvoir Lettings PLC
Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir
operates a nationwide property franchise group with 364 offices
across four brands specialising in residential lettings, property
management, residential sales and property-related financial
services. With its Central Office in Grantham, Lincolnshire, the
Group manages over 61,000 properties and reported revenue of
GBP11.3m in 2017 making Belvoir the largest property franchise
group in the UK.
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.
END
DSHUVAARWWAURAA
(END) Dow Jones Newswires
December 05, 2018 06:30 ET (11:30 GMT)
Belvoir (LSE:BLV)
Historical Stock Chart
From Apr 2024 to May 2024
Belvoir (LSE:BLV)
Historical Stock Chart
From May 2023 to May 2024