REG - Watkin Jones plc - Director/PDMR Shareholding and TVR

Watkin JonesAnnouncement

04/07/2019 15:45

RNS Number : 5577E
Watkin Jones plc
04 July 2019
 





For immediate release


4 July 2019



 
 
Watkin Jones plc
('Watkin Jones', the 'Group' or the 'Company')
 
Director/PDMR Shareholding
Total Voting Rights
 
Watkin Jones plc (AIM: WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation and build to rent sectors, announces that on 1 July 2019, Richard Simpson, Chief Executive Officer, exercised 453,224 awards granted over ordinary shares of 1 penny each in the Company (the "Ordinary Shares") under the Watkin Jones Recruitment Plan (the "Awards"). 
 
Accordingly, application has been made for 453,224 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 5 July 2019.
 
In conjunction with the exercise of the Awards, Mr Simpson sold 216,900 Ordinary Shares in order to pay the option price for the shares of 1 penny per share and to discharge the tax liabilities arising as the table below summarises:
 



Award


Number of Ordinary Shares exercised under the Awards


Number of Ordinary Shares sold to pay the option price and discharge tax liabilities


Balance of Ordinary Shares retained




2015 Buyout Award
 


92,480


Nil


92,480




2016 Buyout Award


360,744


216,900


143,844



 
The 2016 Awards are subject to a two year holding period from their vesting date of 23 June 2019.  In addition, no further sale of the retained Ordinary Shares relating to the Awards referenced above will be permitted until such time as Mr Simpson holds a value of Ordinary Shares equivalent to 200% of his salary.
 
Following the transactions, Mr Simpson has an interest in 236,324 Ordinary Shares representing 0.09 per cent. of the issued share capital of the Company.
 
In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following this transaction its issued share capital will consist of 255,722,099 Ordinary Shares of 1 penny each. Shareholders may use this figure 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:



Watkin Jones plc


 




Richard Simpson, Chief Executive Officer


Tel: +44 (0) 1248 362 516




Philip Byrom, Chief Financial Officer


www.watkinjonesplc.com




 


 




Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)


Tel: +44 (0) 20 7418 8900




Mike Bell / Ed Allsopp


www.peelhunt.com




 


 




 


 




Jefferies Hoare Govett (Joint Corporate Broker)


Tel: +44 (0) 20 7029 8000




Max Jones / Will Soutar


www.jefferies.com








 
Media enquiries:



Buchanan


 




Henry Harrison-Topham / Richard Oldworth
Jamie Hooper / Steph Watson


 
Tel: +44 (0) 20 7466 5000




watkinjones@buchanan.uk.com


www.buchanan.uk.com



 
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
 



1
 


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Richard Simpson




2


Reason for the notification




a)


Position/status


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


Watkin Jones plc
 




b)


LEI


2138009X19O21NU5SG79
 




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


Awards over ordinary shares of 1 pence each




Identification code


ISIN: GB00BD6RF223




b)


Nature of the transaction


Exercise of awards over Ordinary Shares of 1 pence each




c)
 


Price(s) and volume(s)




























Price(s)


Volume(s)
















1 penny


453,224






























d)
 


Aggregated information


















- Aggregated volume


453,224














- Price


£4,532.24














e)
 


Date of the transaction
 


1 July 2019




f)
 


Place of the transaction
 


Outside trading venue



 



1
 


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Richard Simpson




2


Reason for the notification




a)


Position/status


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


Watkin Jones plc
 




b)


LEI


2138009X19O21NU5SG79
 




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 1 pence each




Identification code


ISIN: GB00BD6RF223




b)


Nature of the transaction


Sale of Ordinary Shares of 1 pence each




c)
 


Price(s) and volume(s)




























Price(s)


Volume(s)
















206.1p
205.0p


44,400
172,500






























d)
 


Aggregated information


















- Aggregated volume


216,900














- Price


£445,132.37














e)
 


Date of the transaction
 


3 July 2019




f)
 


Place of the transaction
 


London Stock Exchange, AIM



 
 
 
Notes to Editors
Watkin Jones is a leading UK developer and constructor of multi-occupancy residential property assets, with a focus on the student accommodation and build to rent sectors.  The Group has strong relationships with institutional investors, and a good reputation for successful, on-time-delivery of high quality developments.  Since 1999, Watkin Jones has delivered 38,000 student beds across 117 sites, making it a key player and leader in the UK purpose built student accommodation market.  In addition, the Fresh Property Group, the Group's specialist accommodation management company, manages over 15,000 student beds and build to rent apartments on behalf of its institutional clients.  Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.  The Group is now expanding its operations into the build to rent sector.
 
The Group's competitive advantage lies in its experienced management team and business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
 
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L.  For additional information please visit: www.watkinjonesplc.com




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