REG - RTC Group PLC - Director Dealing, Share Buyback and Cancellation

RTCAnnouncement

03/04/2024 07:15

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RNS Number : 0477J  RTC Group PLC  03 April 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
(EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE
OF THE EU (WITHDRAWAL) ACT 2018.

3 April 2024

RTC Group plc

("RTC" or the "Group")

Option Exercise, Director's Dealing, Share Buyback and Cancellation

RTC Group Plc (AIM: RTC.L) announces that Sarah Dye, Group Finance Director
has exercised options over 70,000 ordinary shares in the Company pursuant to
the Company's Enterprise Management Incentive plan (the "Option Exercise").

Admission

Accordingly, the Company has issued 70,000 Ordinary Shares (the "New Shares").
Application has been made to admit the New Shares to trading on AIM
("Admission"). Admission is expected to become effective on 9 April 2024 and
the New Shares will rank pari passu in all respects with the Company's
existing Ordinary Shares in issues.

Share Buyback and Cancellation

Immediately following Admission, the Company will utilise the authority
granted by shareholders at the Company's Annual General Meeting on 31 May 2023
to purchase the 70,000 New Shares and 50,000 existing shares held by an
employee, and cancel them (the "Share Buyback and Cancellation"). RTC will pay
a cash consideration of 95p per share, being the closing price on 2 April
2024, the last business day prior to this announcement.

The Share Buyback will be funded from the Company's cash resources and bank
facilities.

Related Party Transaction

The participation of Sarah Dye in the Share Buyback and Cancellation is a
related party transaction for the purposes of the AIM Rules.

The Independent Director, being Andy Pendlebury (CEO and Chairman), believes
that the share buyback provides a cost-effective way of providing remuneration
due to the Group Finance Director.

The Independent Director therefore considers, having consulted with Spark
Advisory Partners, the Company's nominated adviser, that the terms of the
Share Buyback and Cancellation are fair and reasonable in so far as
Shareholders are concerned.

Total Voting Rights

Following the Option Exercise, Share Buyback and Cancellation, the Company's
total shares in issue and total voting rights will reduce by the 50,000
Existing Shares being cancelled.  The total issued share capital of the
Company will therefore consist of 14,600,295 ordinary shares.  As each
ordinary share carries the right to one vote, the total number of voting
rights in the Company will be 14,600,295.  This number 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 Company under the FCA's Disclosure and Transparency
Rules.

~ Ends ~

 

Enquiries:

   RTC Group plc

   Andy Pendlebury, Chairman and CEO                                         Tel:  01332 861 844

   Sarah Dye, Group Finance Director
   SPARK Advisory Partners Limited (Nominated Adviser)                       Tel:  0203 368 3550

  Matt Davis / Mark Brady

   www.Sparkadvisorypartners.com (http://www.sparkadvisorypartners.com/)
   SI Capital Limited (Broker)                                                Tel: 01483 413500

  Nick Emerson

  Sam Lomanto

  www.sicapital.co.uk

 

 Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
 596/2014
 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a.  Name                                                         Sarah Dye
 2   Reason for notification                                      Exercise of options and immediate sale of resulting shares to the Company
 a.  Position/Status                                              CFO
 b.  Initial notification/                                        Initial

     Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         RTC Group Plc
 b.  LEI                                                          213800BP6SL5YRSDJY59
 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 1p each

      Identification Code

                                                                  ISIN: GB0002920121
 b.  Nature of the transaction                                    Exercise of options
 c.  Price(s) and volume(s)
                                                                               Transaction  Price(s)     Volume(s)
     Exercise of Options                                                       38p          70,000
                                                                               Sale         95p          70,000

 d.  Aggregated information                                       See above

      - Aggregated Volume

      - Price
 e.  Date of the transaction                                      3 April 2024
 f.  Place of the transaction                                     (AIM)

 

About RTC
RTC Group Plc is an AIM listed recruitment business that focuses on white and
blue-collar recruitment, providing temporary and permanent labour to a broad
range of industries and customers in both domestic and international markets
through its geographically defined operating divisions.

UK division
Through its Ganymede and ATA Recruitment brands the Group provides a wide
range of recruitment services in the UK.

Ganymede specialise in recruiting the best technical and engineering talent
and providing complete workforce solutions to help build and maintain
infrastructure and transportation for a wide range of UK and international
clients. Ganymede is a market leader in providing a diverse range of people
solutions to the rail, energy, construction, highways and transportation
sectors. With offices strategically located across the country, Ganymede
provides its clients with the benefit of a national network of skilled
personnel combined with local expertise.

ATA Recruitment provide high-quality technical recruitment solutions to the
manufacturing, engineering and technology sectors. Working as an engineering
recruitment partner supporting businesses across the UK and Europe, ATA
Recruitment has a strong track record of attracting and recruiting the best
engineering talent for our clients. ATA's regional offices which are
strategically located in Leicester and Leeds each have dedicated
market-experts to ensure ATA delivers excellence to both our clients and
candidates.

International division
Through its GSS brand the Group works with customers across the globe that are
focused on delivering projects in a variety of engineering sectors. GSS has a
track record of delivery in some of the world's most hostile locations.
Working closely with its customers GSS provides contract and permanent
staffing solutions on an international basis, providing key personnel into new
projects and supporting ongoing large-scale project staffing needs. GSS
typically recruit across a range of disciplines and skills from operators and
supervisors, through to senior management level.

The Group headquarters are located at the Derby Conference Centre which also
provides office accommodation for its operating divisions in addition to
generating rental and conferencing income from space not utilised by the
Group.

 

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