REG - B.P. Marsh &Partners - Director/PDMR Shareholding
16/02/2024 16:15
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RNS Number : 5023D B.P. Marsh & Partners PLC 16 February 2024
16 February 2024
B.P. Marsh & Partners Plc
PDMRs' Dealings
B.P. Marsh (AIM: BPM), the specialist investor in early-stage financial
services businesses, has today been notified of the sale of Ordinary Shares
of 10p each in the Company ("Ordinary Shares") on 14 February 2024, 15
February 2024 and 16 February 2024 at the open market price of 450p per share
by certain employees of the Company. The Ordinary Shares sold were held under
the B.P. Marsh Joint Share Ownership Plan (the "JSOP") ("JSOP Shares").
The JSOP was established on 13 June 2018 and announced by the Company on the
same date. On this date the Employee Participants entered into individual
Joint Ownership Agreements ("JOAs") with JTC Employer Solutions Trustee
Limited (formerly RBC cees Trustee Limited) (the "EBT") as part of the
Company's remuneration and staff incentive arrangements.
The beneficial interests in the JSOP Shares are jointly held between the
relevant employee and the EBT. The terms of the JOA included a minimum vesting
period of three years and, subject to the Employee Participant remaining
employed for this duration, upon sale of the vested shares the proceeds of
sale will be divided between the joint owners so that the EBT receives 312p
per share (which represents the Initial Threshold Value of 281p plus a hurdle
amount of 3.75% per annum during the vesting period) and the Employee
Participant is entitled to the balance of 138p per share. The JOAs matured as
fully vested on 13 June 2021 and some members of the JSOP have now partially
exercised their rights to sell a further 148,407 JSOP Shares, in addition to
the 161,000 JSOP Shares sold on 12 February 2024.
Below is a table declaring the interests that PDMRs have sold ("Selling
PDMRs") as part of the above mentioned trades:
Name of PDMR Number of JSOP Shares held prior to transaction JSOP Shares sold in which PDMR had an interest Number of JSOP Shares in which PDMR retains an interest
Alice Foulk 141,526 23,910 117,616
Jonathan Newman 141,526 23,910 117,616
Sinead O'Haire 141,526 23,910 117,616
Below is a table of the Selling PMDRs' ongoing full interests in the Company
(including unvested share options):
Name of PDMR Number of JSOP Interests Share Incentive Plan Interests Share Options Personally Held Shares
Alice Foulk 117,616 23,944 260,000 23,428
Jonathan Newman 117,616 32,651 200,000 19,645
Sinead O'Haire 117,616 32,651 200,000 24,695
For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk (http://www.bpmarsh.co.uk/)
Brian Marsh OBE +44 (0)20 7233 3112
Nominated Adviser & Broker
Panmure Gordon
Atholl Tweedie / Amrit Mahbubani / Stephen Jones / Ailsa MacMaster +44 (0)20 7886 2500
Financial PR & Investor Relations
Tavistock bpmarsh@tavistock.co.uk
Simon Hudson / Tim Pearson / Katie Hopkins +44 (0)20 7920 3150
Notes to Editors:
B.P. Marsh's current portfolio contains fifteen companies. More detailed
descriptions of the portfolio can be found at www.bpmarsh.co.uk
(http://www.bpmarsh.co.uk/) .
Since formation over 30 years ago, the Company has assembled a management team
with considerable experience both in the financial services sector and in
managing private equity investments. Many of the directors have worked with
each other in previous roles, and all have worked with each other for over ten
years.
- Ends -
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alice Foulk
2 Reason for notification
a) Position / status Managing Director / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 7,250
d) Aggregated information N/A
e) Date of the transaction 2024-02-14
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-14
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alice Foulk
2 Reason for notification
a) Position / status Managing Director / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 6,632
d) Aggregated information N/A
e) Date of the transaction 2024-02-15
f) Place of the transaction London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alice Foulk
2 Reason for notification
a) Position / status Managing Director / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 10,029
d) Aggregated information N/A
e) Date of the transaction 2024-02-16
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-15
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1
Details of the person discharging managerial responsibilities / person closely
associated
a)
Name
Alice Foulk
2
Reason for notification
a)
Position / status
Managing Director / PDMR
b)
Initial notification / amendment
Initial
3
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a)
Name
B.P. Marsh & Partners Plc
b)
LEI
2138008G8EPE3HAHEM13
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 10 pence each
Identification code
ISIN: GB00B0XLRJ79
b)
Nature of the transaction
Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c)
Price(s) and volumes(s)
Price(s) Volume(s)
450p per share 10,029
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-16
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Jonathan Newman
2 Reason for notification
a) Position / status Executive Director / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 7,250
d) Aggregated information N/A
e) Date of the transaction 2024-02-14
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-14
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Jonathan Newman
2 Reason for notification
a) Position / status Executive Director / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 6,632
d) Aggregated information N/A
e) Date of the transaction 2024-02-15
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-15
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Jonathan Newman
2 Reason for notification
a) Position / status Executive Director / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 10,029
d) Aggregated information N/A
e) Date of the transaction 2024-02-16
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-16
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Sinead O'Haire
2 Reason for notification
a) Position / status Chief Legal Officer & Group Company Secretary / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 7,250
d) Aggregated information N/A
e) Date of the transaction 2024-02-14
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-14
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Sinead O'Haire
2 Reason for notification
a) Position / status Chief Legal Officer & Group Company Secretary / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 6,632
d) Aggregated information N/A
e) Date of the transaction 2024-02-15
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-15
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Sinead O'Haire
2 Reason for notification
a) Position / status Chief Legal Officer & Group Company Secretary / PDMR
b) Initial notification / amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name B.P. Marsh & Partners Plc
b) LEI 2138008G8EPE3HAHEM13
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 10 pence each
Identification code ISIN: GB00B0XLRJ79
b) Nature of the transaction Sale of interests in shares pursuant to a Joint Share Ownership Plan for 450p
per share. On sale of a JSOP Share, the participant is entitled to the sale
proceeds in excess of a threshold amount of 312p. An Employee Benefit Trust is
entitled to the balance of the sale proceeds.
c) Price(s) and volumes(s) Price(s) Volume(s)
450p per share 10,029
d) Aggregated information N/A
e) Date of the transaction 2024-02-16
f) Place of the transaction London Stock Exchange, AIM (XLON)
d)
Aggregated information
N/A
e)
Date of the transaction
2024-02-16
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
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