REG - Lords Group Trading - Director/PDMR Dealings and Holding(s) in Company

Lords TradingAnnouncement

18/05/2023 16:00

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RNS Number : 9375Z  Lords Group Trading PLC  18 May 2023

     18 May 2023

 

Lords Group Trading plc

('Lords', the 'Group' or the 'Company')

 

Director/PDMR Dealings and Holding(s) in Company

 

Lords, a leading distributor of building materials in the UK, announces that
it has today been notified by Shanker Patel, the Company's Chief Executive
Officer, that on 18 May 2023 his related entities purchased an aggregate of
538,461 ordinary shares in the Company at a price of 65 pence per ordinary
share.

 

In addition, the Company has also been notified that on 18 May 2023 Andrew
Harrison, a Group non-executive Director, and persons closely associated with
him, purchased in aggregate 230,770 ordinary shares at a price of 65 pence per
ordinary share.

 

Shanker Patel's purchases have been conducted via the purchase of 384,615
ordinary shares by a pension fund which is controlled by Shanker Patel and
other members of the Lords' concert party, and by the purchase of an
additional 153,846 ordinary shares by a pension fund which is controlled by a
Rachna Patel, a personal closely associated with Shanker. Details of the Lords
concert party are described in full in the Company's 2021 AIM Admission
Document.

 

As a result, Shanker Patel is now interested, together with his children and
related entities and trusts, in a maximum of an aggregate of 53,821,386*
ordinary shares in the Company, representing 32.5 per cent. of the Company's
issued ordinary share capital. The members of the Lords' concert party
collectively hold 84,535,727 ordinary shares, representing 51.1 per cent. of
the Company's issued share capital.

 

The notifications below, which are made in accordance with the Market Abuse
Regulation, provide further details.

 

The Company has also notified that Allan Pierce sold 1,226,950 ordinary shares
in the Company and now holds 17,890,860 ordinary shares, representing 10.8% of
the Company's issued ordinary share capital.

 

*including a potential interest in a conditional gift of 6,296,250 ordinary
shares to Shaker Patel from a member of the Lords concert party. Subject to
the satisfaction of conditions to the gift, the gift may become unconditional
on 24 June 2024.

 

- Ends -

 

FOR FURTHER ENQUIRIES:

 

 Lords Group Trading plc                                         Via Buchanan
 Shanker Patel, Chief Executive Officer                          Tel: +44 (0) 20 7466 5000
 Chris Day, Chief Financial Officer and Chief Operating Officer

 Cenkos Securities plc (Nominated Adviser and Joint Broker)      Tel: +44 (0)20 7397 8900
 Ben Jeynes / Max Gould / Dan Hodkinson (Corporate Finance)
 Alex Pollen (Sales)

 

 Berenberg (Joint Broker)                               Tel: +44 (0)20 3207 7800

 Matthew Armitt / Richard Bootle / Detlir Elezi

 Buchanan Communications                                Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham / Jamie Hooper / Abby Gilchrist  LGT@buchanan.uk.com (mailto:LGT@buchanan.uk.com)

 

Notes to editors:

 

Lords is a specialist distributor of building, plumbing, heating and DIY
goods.  The Group principally sells to local tradesmen, small to medium sized
plumbing and heating merchants, construction companies and retails directly to
the general public.  The Group operates through the following two divisions:

 

·  Merchanting: supplies building materials and DIY goods through its
network of merchant businesses and online platform capabilities.  It operates
both in the 'light side' (building materials and timber) and 'heavy side'
(civils and landscaping), through 26 locations in the UK.

 

·    Plumbing and Heating: a specialist distributor in the UK of plumbing
and heating products to a UK network of independent merchants, installers and
the general public.  The division offers its customers an attractive
proposition through a multi-channel offering.  The division operates over 16
locations enabling nationwide next day delivery service.

 

Lords was established over 35 years ago as a family business with its first
retail unit in Gerrards Cross, Buckinghamshire.  Since then, the Group has
grown to a business operating from 42 sites.  Lords aims to become a £500
million turnover building materials distributor group by 2024 as it grows its
national presence.

 

Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L.
 For additional information please visit www.lordsgrouptradingplc.co.uk
(http://www.lordsgrouptradingplc.co.uk/) .

 

 

The following notifications are intended to satisfy the Company's obligations
under Article 19(3) of the Market Abuse Regulation.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                                            1.    Lords SSAS

                                                                                     2.    Rachna Dewan

                                                                                     3.    Andrew Harrison

                                                                                     4.    Ruth Harrison
 2   Reason for notification
 a)  Position/Status                                                                 1.     PCA of Shanker Patel, Chief Executive Officer

                                                                                     2.     PCA of Shanker Patel, Chief Executive Officer

                                                                                     3.     Non-Executive Director

                                                                                     4.     PCA of Andrew Harrison, Non-Executive Director
 b)  Initial notification/amendment                                                  Initial notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                                            Lords Group Trading plc

 b)  LEI                                                                             9845009A4D87F1CE5145

 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 and identification  a)    Ordinary shares
     code

                                                                                     ISIN: GB00BM9CLS53

 b)  Nature of transaction                                                           Purchase of ordinary shares

 c)  Price(s) and volume(s)                                                           Price(s)           Volume(s)
                                                                                     1.    65 pence      1.    384,615

                                                                                     2.    65 pence      2.    153,846

                                                                                     3.    65 pence      3.    115,385

                                                                                     4.    65 pence      4.    115,385
 d)  Aggregated information                                                           n/a

 e)  Date of transaction                                                             1.    18 May 2023

                                                                                     2.    18 May 2023

                                                                                     3.    18 May 2023

                                                                                     4.    18 May 2023

 f)  Place of transaction                                                            AIMX

d)

Aggregated information

 n/a

 

e)

Date of transaction

1.    18 May 2023

2.    18 May 2023

3.    18 May 2023

4.    18 May 2023

 

f)

Place of transaction

AIMX

 

 

 

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