REG - Slingsby(H.C.)Plc - Issue of Shares in Lieu of Bonus

H C SlingsbyAnnouncement

30/10/2024 07:00

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RNS Number : 1220K  Slingsby(H.C.)Plc  30 October 2024

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)  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)   Position/status                                              Group 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                                                         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  Ordinary shares of 25 pence each in H C Slingsby plc

      Identification code

                                                                   GB0008138009
 b)   Nature of the transactions                                   Issue of new Ordinary Shares to Director

 c)   Price(s) and volume(s)                                       Price(s)                     Volume(s)

                                                                   300p                         52,500

 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price

      - Principal amount

 e)   Dates of the transaction                                     29 October 2024

 f)   Place of transaction                                         Outside a trading venue

 

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