REG - Ten Lifestyle Group - PDMR Dealing, EBT Disposal and Admission of Shares

Ten LifestyleAnnouncement

05/07/2023 09:45

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RNS Number : 0561F  Ten Lifestyle Group PLC  05 July 2023

5 July 2023

Ten Lifestyle Group plc

(the "Company" or "Ten")

 

PDMR Dealing, EBT Disposal and Admission of New Shares

 

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled global
concierge platform for the world's wealthy and mass affluent, announces that
it received notice that on 4 July 2023 Andrew Long, Group COO, sold 900,000
ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a
price of 95p per Ordinary Share. On the same day, 400,000 options held by the
Ten Employee Benefit Trust were exercised, with the resulting shares sold on
the same day at a price of 95p per share.

 

Following the sale, Mr. Long has a total interest in the Company of 3,100,000
Ordinary Shares, representing 3.67% of the total voting rights of the Company.
The purpose of the sale was to fund a previously agreed payment plan for a new
build property purchase.

 

The Ten Group Employee Benefit Trust, established on 22 February 2012 (the
"EBT"), was granted an option for NWH (Guernsey) Limited to subscribe for
400,000 Ordinary Shares with an exercise price of 70p on 27 March 2020 as part
of the Company's COVID-19 cost saving initiatives. The EBT is primarily
intended to reward employees, not management, who have shown commitment to the
Company and the cash generated by this exercise and sale will be used to fund
employee loyalty programmes aimed at improving employee retention.

 

Following this transaction, the EBT holds a total of 42,186 Ordinary Shares,
representing 0.05% of the Company's total voting rights.

 

Pursuant to the exercise of options described above, the Company has issued
400,000 new Ordinary Shares. Applications have been made for the 400,000 new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will occur at 8.00 a.m. on or around 11 July 2023.

 

The total number of Ordinary Shares in issue following Admission will be
84,387,671. 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 Company under the FCA's
Disclosure and Transparency Rules.

 

The notification below, made in accordance with the Market Abuse Regulation,
provides further details in relation to the sale of Ordinary Shares.

 

 

End

 

For further information, please visit https://www.tengroup.com/
(https://www.tengroup.com/) or contact:

 

 Ten Lifestyle Group Plc                      +44 (0)20 7850 2796

 Alex Cheatle, Chief Executive Officer

 Alan Donald, Chief Financial Officer

 Peel Hunt LLP, Nominated Advisor and Broker  +44 (0) 20 7418 8900

 Paul Gillam

 James Smith

 

 

 

 1                        Details of the person discharging managerial responsibilities / person closely

                        associated

 a)                       Name                                                         Andrew Long
 2                        Reason for the notification
 a)                       Position/status                                              Group COO
 b)                       Initial notification /Amendment                               Initial Notification
 3                        Details of the issuer, emission allowance market participant, auction

                        platform, auctioneer or auction monitor

 a)                       Name                                                          Ten Lifestyle Group Plc
 b)                       LEI                                                          213800YK94ZUOJUMN686
 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 0.1p each

     Identification code  ISIN: GB00BF188X60

 b)                       Nature of the transaction                                    Sale of Ordinary Shares
 c)                       Price(s) and volume(s)                                                          Price(s)          Volume(s)
                                                                                                         95p               900,000

 d)                       Aggregated information

     - Aggregated volume  900,000

     - Price              95p

 e)                       Date of the transaction                                      4 July 2023
 f)                       Place of the transaction                                     London Stock Exchange (XLON); AIM

 

 

 

 

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