REG - Cavendish Financial - Total Voting Rights and Directors Dealings
20/02/2024 07:00
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RNS Number : 6836D Cavendish Financial PLC 20 February 2024
20 February 2024
Cavendish Financial plc
("Cavendish", the "Company" or the "Group")
Total Voting Rights and Directors Dealings
Cavendish Financial plc (AIM:CAV) is pleased to announce that the invitation
period for the Company's Co-Investment Share Plan (the "CiP") closed to
eligible employees on 19 February and 56 employees have chosen to participate
in the CiP.
In aggregate, employees have contributed £1,211,000 for the subscription of
new ordinary shares in Cavendish at 9.75p per share (the closing market price
on 19 February 2024), and committed to purchase £72,820 worth of Cavendish
shares, via monthly purchases in the market, using post-tax payroll deductions
spread over the next 12 months.
Accordingly, Cavendish has raised £1,211,000 of new capital through the issue
of 12,420,500 new ordinary shares of 1 pence each under the CiP, which shares
have been issued and allotted to the trustee of the Company's employee benefit
trust, Ogier Global Trustee (Jersey) Limited, in its capacity as nominee on
behalf of participants.
The Company has applied for admission of these newly issued and allotted
shares to trading on AIM. Admission is expected to take place at 8.00 a.m.
on 26 February 2024.
Subject to the rules of the CiP, (a summary of which has been previously
announced), and all participants remaining in the CiP until the end of the
3-year lock up period, the estimated number of free shares that may be
allotted under the CiP if (i) the minimum share price target is achieved, is
c.6.2m new ordinary shares (c.1.7% of Cavendish's issued share capital, post
the allotment announced today) and (ii) if the maximum share price target is
achieved, is c.49.7m new ordinary shares (c.13.3% of Cavendish's issued share
capital, post the allotment announced today).
Total Voting Rights
In compliance with the FCA's Disclosure Guidance and Transparency Rules, the
Company announces that, as at today's date, it has 374,610,065 ordinary shares
of 1 pence each in issue. The Company does not hold any shares in treasury
and all of the ordinary shares have equal voting rights.
The figure of 374,610,065 ordinary shares represents the total voting rights
in the Company and may be used by shareholders as the denominator for the
calculations by which they can determine if they are required to notify their
interest in, or a change to their interest in, the Company under the Rules.
Directors and PDMRs Dealings
In connection with their participation in the CiP, Cavendish announces today
the following subscription of ordinary shares of 1 pence each by its directors
and PDMRs pursuant to the CiP:
Director /PDMR No. of Shares Price per Share Resulting Shareholding Shareholding % of ISC
Julian Morse, Co-CEO 512,820 9.75p 5,893,271 1.6%
John Farrugia, Co-CEO 205,128 9.75p 2,132,797 0.6%
Ben Procter - CFO 512,820 9.75p 802,820 0.2%
Richard Snow - COO 205,128 9.75p 533,825 0.1%
Subject to the rules of the CiP, Cavendish also announces today the grant of
the following conditional share awards over ordinary shares of 1 pence each to
its directors and PDMRs:
Director / PDMR Minimum No. of Shares subject to CiP Award Price per Share Maximum No. of Shares subject to CiP Award Price per Share
Julian Morse, Co-CEO 256,410 Nil 2,051,280 Nil
John Farrugia, Co-CEO 102,564 Nil 820,512 Nil
Ben Procter - CFO 256,410 Nil 2,051,280 Nil
Richard Snow - COO 102,564 Nil 820,512 Nil
Further details of the subscriptions and conditional share awards are included
in the notifications below, made in accordance with the requirements of
the UK Market Abuse Regulation.
CONTACTS
Cavendish (Management)
Tel: +44 (0)
20 7220 0500
Julian Morse, Co-Chief Executive
Officer
investor.relations@cavendish (mailto:investor.relations@cavendish) .com
John Farrugia, Co-Chief Executive
Officer
Ben Procter, Chief Financial Officer
Grant Thornton (Nominated Adviser)
Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/Ciara Donnelly
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Julian Morse
2 Reason for the notification
a) Position/status Co-CEO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.0975 512,820
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Julian Morse
2 Reason for the notification
a) Position/status Co-CEO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Grant of conditional share award under the Cavendish Financial plc
Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£nil Minimum 256,410
Maximum 2,051,280
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Farrugia
2 Reason for the notification
a) Position/status Co-CEO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.0975 205,128
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Farrugia
2 Reason for the notification
a) Position/status Co-CEO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Grant of conditional share award under the Cavendish Financial plc
Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£nil Minimum 102,564
Maximum 820,512
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Ben Procter
2 Reason for the notification
a) Position/status CFO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.0975 512,820
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Ben Procter
2 Reason for the notification
a) Position/status CFO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Grant of conditional share award under the Cavendish Financial plc
Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£nil Minimum 256,410
Maximum 2,051,280
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Richard Snow
2 Reason for the notification
a) Position/status COO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.0975 205,128
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Richard Snow
2 Reason for the notification
a) Position/status COO
b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cavendish Financial plc
b) LEI 213800DLRUJW6JVNS533
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
Identification code GB00BGKPX309
b) Nature of the transaction Grant of conditional share award under the Cavendish Financial plc
Co-Investment Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£nil Minimum 102,564
Maximum 820,512
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 19 February 2024
f) Place of the transaction Outside of trading venue
END
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