7digital Group PLC Issue of Equity & Director/PDMR Shareholding (0848O)

TIDM7DIG

RNS Number : 0848O

7digital Group PLC

15 August 2017

7digital Group plc

("7digital" or "the Company")

Issue of Equity

Director/PDMR Shareholding

7digital (AIM:7DIG), the B2B digital music and radio services company, announces that it has applied to the London Stock Exchange for 257,630 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission"). The new Ordinary Shares are being issued subsequent to exercises of options over Ordinary Shares ("Options") by employees of the Company.

Of the Options, 155,556 were exercised by Paul Langworthy, a person discharging managerial responsibilities ("PDMR") of the Company. Mr Langworthy subsequently sold 155,556 Ordinary Shares at a price of 5.75 pence per Ordinary Share to cover personal commitments, including the income tax payable on the exercise of his Options. Further information is set out in the PDMR disclosure table below.

It is expected that Admission will become effective and trading will commence in the new Ordinary Shares at 8.00 a.m. on 21 August 2017. On Admission the Company's issued share capital will comprise 183,268,928 Ordinary Shares, of which 28,336 are held in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights will be 183,240,592. Accordingly, the figure of 183,240,592 may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries

 
 7digital Group                                    020 7099 7777 
 Simon Cole, Chief Executive 
 Matt Honey, Chief Financial Officer 
  Holly Ashmore, PR Manager 
 
 
   finnCap (nominated adviser and 
   broker)                                         020 7220 0500 
 Geoff Nash / Carl Holmes / Simon 
  Hicks - Corporate Finance 
 Mia Gardner - Corporate Broking 
 
 
 
 
   About 7digital (http://about.7digital.com) 
 

7digital is the global leader in end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.

7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo, Global Radio and musical.ly. From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like HMV, Electric Jukebox and Panasonic, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------------------------------- 
 a)   Name                             Paul Langworthy 
---  -------------------------------  ---------------------------------------------- 
 2.   Reason for the Notification 
---  ------------------------------------------------------------------------------- 
 a)   Position/status                  Chief Operating Officer / 
                                        PDMR 
---  -------------------------------  ---------------------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
---  -------------------------------  ---------------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------------------------- 
 a)   Name                             7digital Group plc 
---  -------------------------------  ---------------------------------------------- 
 b)   LEI                              213800Z18A7JGS54KF43 
---  -------------------------------  ---------------------------------------------- 
 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                   ordinary shares of 1p each 
       the Financial                    ("Ordinary Shares") 
       instrument, type 
       of instrument 
--- 
      Identification                   GB00B0P1RP10 
       code 
---  -------------------------------  ---------------------------------------------- 
 b)   Nature of the                    Exercise of Options over Ordinary 
       transaction                      Shares 
                                        Sale of Ordinary Shares 
---  -------------------------------  ---------------------------------------------- 
 c)   Price(s) and                     Exercise of Options Price(s)   Volume(s) 
       volume(s)                        ---------  ---------- 
                                         0p         155,556 
                                        ---------  ---------- 
 
                                        Sale of Ordinary Shares Price(s)   Volume(s) 
                                        ---------  ---------- 
                                         5.75p      155,556 
                                        ---------  ---------- 
---  -------------------------------  ---------------------------------------------- 
 d)   Aggregated information:          See 4 (c) above 
        *    Aggregated volume 
 
 
        *    Price 
---  -------------------------------  ---------------------------------------------- 
 e)   Date of the transaction          14 August 2017 
---  -------------------------------  ---------------------------------------------- 
 f)   Place of the                     Outside a trading venue 
       transaction 
---  -------------------------------  ---------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 15, 2017 11:45 ET (15:45 GMT)