Director/PDMR Shareholding

Airea

05/04/2019 11:42

RNS Number : 3103V

Airea PLC

05 April 2019

 

AIREA PLC

("the Company")

 

Director/PDMR Shareholding

 

 

The Company announces that Neil Rylance, Chief Executive Officer of the Company, has today sold 2,510,630 ordinary 25p shares in the Company ('Ordinary Shares') at a price of 72 pence per share to the recently created Airea Employee Benefit Trust ('EBT').

 

As a result of this transaction Neil Rylance no longer has a beneficial interest in the issued share capital of the Company.

 

Martin Toogood, Non-Executive Chairman, said:

 

"The Company's employee benefit trust is now in a position where it can begin to make performance-based share awards to our employees. The awards, which will vest over a three to five year period, are key to employee retention and ensuring that appropriate incentives are in place to drive long-term value creation in a highly competitive market environment.

 

Our Chief Executive Officer, Neil Rylance, built up his personal shareholding in the Company a number of years ago and, as part of this sale to the EBT, intends to continue to lead the company in this next important phase of its development".

 

 

AIREA plc

Martin Toogood, Non-Executive Chairman                                                            01924 266561

Paul Stevenson, Finance Director                                                                         01924 262561

 

N+1 Singer, Nominated Adviser and Broker

Peter Steel                                                                                                             0207 496 3000

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail. 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCAs") with them.

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Neil Rylance
2
Reason for the notification
a)
Position/status
PDMR (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
AIREA plc
b)
LEI
213800FNWL76NCLZU343
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
Ordinary Shares of 25 pence each ("Ordinary Shares")
Identification code
GB00BW9PJQ87
b)
Nature of the transaction
Sale of Ordinary Shares
c)
Price(s) and volume(s)
Price
Volume
72p
2,510,630Ordinary Shares
d)
Aggregated information
- Aggregated volume
- Price
2,510,630 Ordinary Shares
72p
e)
Date of the transaction
5 April 2019
f)
Place of the transaction
Outside a trading venue

 

Name of authorised official of issuer responsible for making notification:

Paul Stevenson

Company Secretary to AIREA plc  

 

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

 

 

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