REG - Gear4music - Issue of shares under LTIP, PDMR dealings & TVR

Gear4music (HOLDINGS)Announcement

02/08/2021 13:20

RNS Number : 2826H
  
Gear4music (Holdings) PLC
  
02 August 2021
  
 

 
2 August 2021
 
Gear4music (Holdings) plc
Issue of shares under Long Term Incentive Plan
Director/PDMR dealings
Total Voting Rights
 
Gear4music (Holdings) plc, ("Gear4music" or "the Group") (LSE: G4M), the largest UK based online retailer of musical instruments and music equipment, today announces that the performance conditions relating to the conditional share awards granted under the Company's Long Term Incentive Plan ("LTIP") to certain employees of the Company on 13 November 2018, as amended on 13 October 2020, were fully met. As a result, 21,450 ordinary shares of 10 pence each ("Ordinary Shares") will be issued and allotted. 
Director/PDMR dealings
 
Gareth Bevan (Chief Commercial Officer) and Chris Scott (Chief Financial Officer) will be issued and allotted 6,825 and 5,850 Ordinary Shares respectively, with their resultant respective interests in the Company's enlarged issued share capital as below:



Director/PDMR


Existing number of Ordinary Shares held


Ordinary Shares issued pursuant to LTIP


Resultant number of Ordinary Shares held


Percentage interest in the Company's enlarged issued share capital




Gareth Bevan


84,760


6,825


91,585


0.44%




Chris Scott


74,840


5,850


80,690


0.38%



 
Andrew Wass' (Chief Executive Officer) entitlement to an award of £55,575 has been exercised and will be settled in cash.
Admission to trading
 
Application has been made to the London Stock Exchange for the 21,450 Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on or around 8.00 a.m. on 3 August 2021.
The new Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares in the capital of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the new Ordinary Shares.
Total voting rights
 
Following Admission, the total number of Ordinary Shares in issue will be 20,976,938. This figure may be used by shareholders 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.
 
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, provide further detail.
ENDS
Enquiries:
 



Gear4music
Andrew Wass, Chief Executive Officer
Chris Scott, Chief Financial Officer


+44 (0)20 3405 0205














Singer Capital Markets - Nominated Adviser and Joint Broker
Peter Steel/Amanda Gray, Corporate Finance
Tom Salvesen, Corporate Broking


+44 (0)20 7496 3000
 














Investec Bank plc - Joint Broker
David Flin
Alex Wright
Harry Hargreaves


+44 (0)20 7597 5970
 














Alma PR - Financial PR
Harriet Jackson
Josh Royston
Faye Calow


+44 (0)20 3405 0205
Gear4Music@almapr.co.uk
 



 
About Gear4music (Holdings) plc
Operating from a Head Office in York, and Distribution Centres and showrooms in York, Sweden and Germany, the Group sells own-brand musical instruments and music equipment alongside premium third-party brands including Fender, Yamaha and Roland, to customers ranging from beginners to musical enthusiasts and professionals, in the UK, Europe and, more recently, into the Rest of the World.
 
Having developed its own e-commerce platform, with multilingual, multicurrency websites delivering to over 190 countries, the Group continues to build its overseas presence.
 
 
 



1 


Details of the person discharging managerial responsibilities / person closely associated 




a) 


Name 


Gareth Bevan




2 


Reason for the notification 




a) 


Position/status 


Chief Commercial Officer




b) 


Initial notification /Amendment 


Initial notification




3 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 




a) 


Name 


Gear4music (Holdings) plc




b) 


LEI 


2138005H4W74HDGSFC49   




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 10 pence each ("Ordinary Shares")
 
GB00BW9PJQ87 




b) 


Nature of the transaction 


Exercise of options over Ordinary Shares pursuant to the Company's Long Term Incentive Plan




c) 
 


Price(s) and volume(s) 
 


Price


Volume




£nil


6,825




d) 


Aggregated information 
- Aggregated volume 
- Price 
 


 
N/A - single transaction
 




e) 


Date of the transaction 


2 August 2021




f) 


Place of the transaction


Outside a trading venue



 



1 


Details of the person discharging managerial responsibilities / person closely associated 




a) 


Name 


Chris Scott




2 


Reason for the notification 




a) 


Position/status 


Chief Financial Officer




b) 


Initial notification /Amendment 


Initial notification




3 


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 




a) 


Name 


Gear4music (Holdings) plc




b) 


LEI 


2138005H4W74HDGSFC49   




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 10 pence each ("Ordinary Shares")
 
GB00BW9PJQ87 




b) 


Nature of the transaction 


Exercise of options over Ordinary Shares pursuant to the Company's Long Term Incentive Plan




c) 
 


Price(s) and volume(s) 
 


Price


Volume




£nil


5,850




d) 


Aggregated information 
- Aggregated volume 
- Price 
 


 
N/A - single transaction
 




e) 


Date of the transaction 


2 August 2021




f) 


Place of the transaction


Outside a trading venue



 

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