Gear4music (Holdings) PLC PDMR Dealings and Directorate Change (9989M)

TIDMG4M

RNS Number : 9989M

Gear4music (Holdings) PLC

20 October 2016

Gear4music (Holdings) plc

PDMR Dealings & Directorate Change

On 19 October 2016, the board of Gear4music (Holdings) plc ("Gear4music" or the "Company") was informed that Key Capital Partners (Nominees) Limited ("KCP") had sold 829,482 shares. KCP is classified as a Person Closely Associated with Peter Armitage, a Non-Executive Director of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member. KCP no longer has a notifiable interest in the Company. The above transaction, which was completed at 360 pence per share, took place on 19 October 2016.

Separately, the Company announces that, following the above transaction, Mr Armitage will step down from the Board with immediate effect.

Andrew Wass, Chief Executive Officer, said:

"Key Capital's decision to invest in the business in 2012 has been integral to our subsequent development and setting us on the path to growth. With Peter stepping away from the Board, now would seem the appropriate juncture to recognise the very significant contribution they have made over a number of years. I would like to wish both Peter and Key Capital all the very best in their future endeavours."

- Ends -

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMR") and persons closely associated ("PCA") with them.

 
  1   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------------------ 
 a)   Names                    Key Capital Partners (Nominees) 
                                Limited 
---  -----------------------  ----------------------------------------- 
 2    Reason for the notification 
---  ------------------------------------------------------------------ 
 a)   Position/status          KCP is classified as a PCA of 
                                Peter Armitage, a Non-Executive 
                                Director and PDMR of the Company 
                                and KCP director. KCP acts as 
                                nominee for certain funds of 
                                Key Capital Partners LLP, a partnership 
                                of which Mr Armitage is a member. 
---  -----------------------  ----------------------------------------- 
 b)   Initial notification     Initial Notification 
       /Amendment 
---  -----------------------  ----------------------------------------- 
 3    Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  ------------------------------------------------------------------ 
 a)   Name                     Gear4music (Holdings) plc 
---  -----------------------  ----------------------------------------- 
 b)   LEI                       ISIN = GB00BW9PJQ87 
---  -----------------------  ----------------------------------------- 
 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              Ordinary Shares of 10p each 
       of the financial 
       instrument, 
       type of instrument 
---  -----------------------  ----------------------------------------- 
 b)   Identification           GB00BW9PJQ87 
       code 
---  -----------------------  ----------------------------------------- 
 c)   Nature of the            Sale of Ordinary Shares 
       transactions 
---  -----------------------  ----------------------------------------- 
 d)   Price(s) and             Volume(s): 
       volume(s)                KCP - 829,482 shares 
                                Price: 
                                GBP3.60 per share 
---  -----------------------  ----------------------------------------- 
 d)   Aggregated information    N/A 
       - Aggregated 
       volume 
       - Price 
---  -----------------------  ----------------------------------------- 
 e)   Date of the              19 October 2016 
       transactions 
---  -----------------------  ----------------------------------------- 
 f)   Place of the             London Stock Exchange, AIM Market 
       transaction              (XLON) 
---  -----------------------  ----------------------------------------- 
 

Name of authorised official of issuer responsible for making notification:

Chris Scott

Company Secretary to Gear4music (Holdings) plc

For further information please contact

Gear4music [phone]

Andrew Wass, Chief Executive Officer

Chris Scott, Chief Financial Officer

Panmure Gordon

[phone]

(Financial Adviser, Nominated Adviser and Broker)

Andrew Godber / Peter Steel - Investment Banking

Erik Anderson / Tom Salvesen - Corporate Broking

MHP Communications (Financial PR) [phone]

Andrew Leach

Simon Hockridge

Isabelle Grainger

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 20, 2016 02:00 ET (06:00 GMT)