THE
INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT CONSTITUTES INSIDE
INFORMATION AS DEFINED BY THE MARKET ABUSE REGULATIONS (EU) NO.
596/2014, WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION
SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
30 October
2024
H C SLINGSBY
PLC
("Slingsby", "the Group" or the "Company")
Issue of Shares in Lieu of
Bonus
HC Slingsby PLC, one of the market
leaders in the distribution of industrial and commercial
equipment, is pleased to announce that a
discretionary bonus of £157,500 has been awarded to Morgan Morris,
Group Chief Executive, for his previous and continued service to
the Company, which is to be satisfied by the issuance of 52,500 new
ordinary shares of 25 pence each in the Company ("Ordinary Shares") at a price of 300
pence per share (the "Equity
Bonus"), being the closing current mid-market share price on
29 October 2024.
Admission to AIM
Application will be made to the
London Stock Exchange for the 52,500 new Ordinary Shares to be
admitted to trading on AIM ("Admission"). It is anticipated that
Admission will occur, and dealings will commence in the New
Ordinary Shares at 8.00 a.m. on, or around, 4 November
2024.
Related Party Transaction
Morgan Morris is the Group Chief
Executive Officer and a Director of Slingsby and, therefore, the
Equity Bonus is treated as a related party transaction under the
AIM Rules for Companies. The Independent Director, Andrew
Kitchingman, considers, having consulted with Allenby Capital
Limited, the Company's Nominated Adviser, that the terms of the
Equity Bonus are fair and reasonable insofar as the Company's
shareholders are concerned.
Director's interest in the Company
Following Admission, Morgan Morris
will be interested in a total of 157,989 Ordinary Shares which will
be equivalent to 14.33% of the enlarged number of voting rights in
the Company.
The FCA notification, made in
accordance with the requirements of UK MAR, is appended
below.
Total Voting Rights
Following Admission, the Company
will have 1,102,500 Ordinary Shares in issue, each with one voting
right. There are no Ordinary Shares held in treasury. Therefore,
the Company's total number of Ordinary Shares and voting rights
will be 1,102,500.
This figure may be used by
shareholders from Admission as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
For further information, please
contact:
|
H C
Slingsby PLC
|
Tel: 01274 535 030
|
|
Andrew Kitchingman, Non-Executive
Chairman
|
|
|
Morgan Morris, Group Chief
Executive
|
|
|
Allenby Capital Limited (Nominated adviser and
Broker)
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Tel: 020 3328 5656
|
|
Alex Brearley / George Payne
(Corporate Finance)
Amrit Nahal (Sales and Corporate
Broking)
|
|
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
|
1
|
Details of the person discharging
managerial responsibilities / person closely associated
|
|
a)
|
Name
|
Morgan Morris
|
|
2
|
Reason for the
notification
|
|
a)
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Position/status
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Group Chief Executive
Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
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Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
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Name
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H C Slingsby plc
|
|
b)
|
LEI
|
2138004NA2QBB4KXV279
|
|
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
Identification code
|
Ordinary shares of 25 pence each in
H C Slingsby plc
GB0008138009
|
|
b)
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Nature of the
transactions
|
Issue of new Ordinary Shares to
Director
|
|
c)
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Price(s) and volume(s)
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Price(s)
300p
|
Volume(s)
52,500
|
|
d)
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Aggregated information
- Aggregated volume
- Price
- Principal amount
|
N/A
|
|
e)
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Dates of the transaction
|
29 October 2024
|
|
|
|
|
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f)
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Place of transaction
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Outside a trading venue
|