REG - Pulsar Group PLC - Director/PDMR Shareholding

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RNS Number : 6385L  Pulsar Group PLC  15 December 2025

15 December 2025

 

Pulsar Group plc

("Pulsar" or the "Company")

Director/PDMR Shareholdings

Pulsar Group plc (AIM: PULS) announces that it has received notification from
Mr. Max Royde, Non-Executive Director of the Company, that an aggregate of
284,452 ordinary shares of 5 pence each in the Company ("Ordinary Shares")
have been transferred out of Kestrel Partners LLP's ("Kestrel") discretionary
management and control due to the rearrangement of two client portfolios.
These Ordinary Shares continue to be held by the same beneficial owners.

Mr. Royde is a partner of, and holds a beneficial interest in, Kestrel. Mr.
Royde is also a shareholder in the Kestrel Opportunities Fund ("Kestrel
Opportunities") and is therefore deemed to have a beneficial interest in
Kestrel Opportunities' entire legal holding of Ordinary Shares in the Company.

Following this transaction, Kestrel Opportunities continues to hold (and
consequently Mr. Royde is deemed to have a beneficial interest in) 20,227,082
Ordinary Shares, and other discretionary management clients of Kestrel, in
which Mr. Royde has no beneficial interest hold 18,588,160 Shares in the
Company.

On a combined basis, Kestrel indirectly holds voting rights over 38,815,242
Ordinary Shares in the Company, which represents approximately 28.62% of the
total voting rights in the Company.

Kestrel's interest in the Ordinary Shares in the Company is held through the
following nominees:

 Nominee                        No. of Ordinary Shares  % of total voting rights
 Bank of New York Nominees Ltd  20,227,082              14.92%
 JIM Nominees Limited           1,630,752               1.20%
 Bank of New York Nominees Ltd  10,576,173              7.80%
 Northern Trust Company AVFC    5,888,848               4.34%
 iDealing Nominees Limited      492,387                 0.36%

 

For further information contact:

 Pulsar Group plc                                                   020 3426 4070

 Joanna Arnold (CEO)

 Mark Fautley (CFO)

 Cavendish Capital Markets Limited (Nominated Adviser and Broker)  020 7220 0500

 Corporate Finance:

 Marc Malmo / Fergus Sullivan / Elysia Bough

 Corporate Broking

 Sunila de Silva

ANNEX

The Notification of Dealing Forms set out below are provided in accordance
with the requirements of the EU Market Abuse Regulation.

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Max Royde

 2    Reason for the notification

 a)   Position/status                                              PCA - Kestrel Partners LLP are a PCA of Max Royde (Non-Executive Director of

                                                            the Company) and Partner of Kestrel).

 b)   Initial notification /Amendment                              Initial

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Pulsar Group plc

 b)   LEI                                                          213800PPZ4ZM8OMHGT41

 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 5 pence each

      Identification code

                                                                   ISIN: GB00BGQVB052

 b)   Nature of the transaction                                    Transfer of Ordinary Shares out of Kestrel controlled accounts. Mr. Royde is a

                                                            partner of, and holds a beneficial interest in, Kestrel. Mr. Royde is also a
                                                                   shareholder in one of Kestrel's clients ("Kestrel Opportunities") and is
                                                                   therefore deemed to have a beneficial interest in Kestrel Opportunities'
                                                                   entire legal holding in Shares in the Company.
 c)   Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                            N/A       284,452

 d)   Aggregated information

      - Aggregated volume                                          As above.

      - Price
 e)   Date of the transaction                                      12 December 2025

 f)   Place of the transaction                                     N/A

d)

 

Aggregated information

- Aggregated volume

- Price

 

As above.

 

e)

 

Date of the transaction

12 December 2025

f)

 

Place of the transaction

N/A

 

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