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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pittards Plc | LSE:PTD | London | Ordinary Share | GB00BM8NGB73 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 5.375 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2022 to Apr 2024
TIDMPTD
RNS Number : 8413V
Pittards PLC
11 April 2023
Pittards plc
(the "Company")
Result of General Meeting, Director/ PDMR Dealing
and Total Voting Rights
Pittards plc, the specialist producer of technically advanced leather and luxury leather goods for retailers, manufacturers and distributors, announces that at the General Meeting held earlier today in connection with the Placing, Director Shares and Share Reorganisation, that all resolutions were passed. Details of the resolutions were set out in the Notice of General Meeting dated 24 March 2023 and results of the proxy voting will shortly be available on the Company's website https://corporate.pittards.com/investors/ .
Directors' Loans and Director Shares
Further to the Notice of General Meeting and the passing of Resolutions 1 to 5 (inclusive), the interest free loans of c.GBP85,000 made by the Directors and certain other employees to the Company will be converted into 340,000 New Ordinary Shares at the Placing Price, details of which are set out below:
Hot Features
Premium
Name Position Existing Value of Director Shares New Ordinary Percentage of
Ordinary Shares Directors' (as a result of Shares held on Enlarged
Loans the conversion Admission* Voting Issued
of the Share Capital*
Directors'
Loans)
Stephen Yapp Director 276,947 GBP50,000 200,000 476,900 3.3%
---------- ---------------- ---------------- ---------------- ---------------- ---------------
Reginald
Hankey** Director 417,848 GBP10,000 40,000 457,800 3.2%
---------- ---------------- ---------------- ---------------- ---------------- ---------------
Alan Burgess Director 21,643 GBP5,000 20,000 41,600 0.3%
---------- ---------------- ---------------- ---------------- ---------------- ---------------
Louise Cretton Director 39,570 GBP5,000 20,000 59,500 0.4%
---------- ---------------- ---------------- ---------------- ---------------- ---------------
Godfrey Davis Director 170,982 GBP10,000 40,000 210,900 1.5%
---------- ---------------- ---------------- ---------------- ---------------- ---------------
John Loxston PDMR 25,266 GBP2,000 8,000 33,200 0.2%
---------- ---------------- ---------------- ---------------- ---------------- ---------------
Other employees N/A N/A GBP3,000 12,000 N/A N/A
---------- ---------------- ---------------- ---------------- ---------------- ---------------
*As adjusted by the Share Reorganisation
** Held by the Director and his spouse
Bank facilities
Further to the Placing, Lloyds has increased the overdraft facility by GBP340,000. In addition, it has extended the Company's other borrowing facilities until 30 June 2023. Negotiations with Lloyds regarding new facilities or the restructuring of their existing facilities remain ongoing.
Share Reorganisation
Further to the Notice of General Meeting and the passing of Resolutions 1 to 4 (inclusive) the Company will be undertaking a consolidation of shares immediately followed by a subdivision.
Under the Share Reorganisation, 10 new Ordinary Shares will be issued at a price of 50 pence per share to ensure that as part of the Share Reorganisation an exact whole number of Consolidated Ordinary Shares will be issued. The Existing Ordinary Shares in issue at the Record Date will then be consolidated into Consolidated Ordinary Shares on the basis of one Consolidated Ordinary Share for every 100 Existing Ordinary Shares. Each Consolidated Ordinary Share will then be sub-divided into 100 New Ordinary Shares and 4,900 Deferred Shares.
Admission
Application has been made to the London Stock Exchange for the admission of 15,248,700 New Ordinary Shares to trading on AIM, as a result of the issue of the Placing Shares and the Director Shares and the Share Reorganisation. This comprises of 1,020,000 Placing Shares, 340,000 Director Shares and 13,888,700 New Ordinary Shares as a result of the Share Reorganisation. It is expected that Admission will become effective at 8.00 a.m. on 12 April 2023. The Company's new ISIN as a result of the Share Reorganisation will be GB00BM8NGB73 and its SEDOL will be BM8NGB7.
Total Voting Rights
Following Admission, the Company's issued share capital will consist of 15,248,700 Ordinary Shares of which 874,200 Ordinary Shares are held in treasury. Therefore, the total number of voting rights in the Company is 14,378,500. 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 and Transparency Rules.
This announcement should be read in conjunction with the full text of the Circular posted to Shareholders on 25 March 2023 copies of which are available on the Company's website at https://corporate.pittards.com/investors/ . Ca pitalised terms in this announcement have the same meaning as given in the Circular.
For further information, please contact:
Pittards plc www.pittards.com Stephen Yapp, Chairman Reg Hankey, CEO Alan Burgess, CFO +44 (0) 1935 474 321 WH Ireland Limited https://www.whirelandplc.com/capital-markets Mike Coe, Sarah Mather +44 (0)20 7220 1666
The below notification which is made in accordance with the requirements of the Market Abuse Regulation, provides further details of the interests acquired by persons discharging managerial responsibilities in connection with the conversion of the Directors' Loans:
Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen Yapp
--------------------------- ---------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Chairman
--------------------------- ---------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Pittards plc
--------------------------- ---------------------------------------
b) LEI 213800HAJ6N27BURB995
--------------------------- ---------------------------------------
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, Ordinary shares of 1p each
type of instrument
GB00BM8NGB73
Identification
code
--------------------------- ---------------------------------------
b) Nature of the transaction Conversion of Directors Loans into New
Ordinary Shares
--------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
25p 200,000
----------
--------------------------- ---------------------------------------
d) Aggregated information
- Aggregated volume 200,000
- Price GBP50,000
--------------------------- ---------------------------------------
e) Date of the transaction 11 April 2023
--------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange, AIM
--------------------------- ---------------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Reginald Hankey
-------------------------- ------------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
a) Position/status Chief Executive
-------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Pittards plc
-------------------------- ------------------------------------------------
b) LEI 213800HAJ6N27BURB995
-------------------------- ------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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, Ordinary shares of 1p each
type of instrument
GB00BM8NGB73
Identification code
-------------------------- ------------------------------------------------
b) Nature of the transaction Conversion of Directors Loans into New Ordinary
Shares
-------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
25p 40,000
----------
-------------------------- ------------------------------------------------
d) Aggregated information
- Aggregated volume 40,000
- Price GBP10,000
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alan Burgess
-------------------------- ------------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Pittards plc
-------------------------- ------------------------------------------------
b) LEI 213800HAJ6N27BURB995
-------------------------- ------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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, Ordinary shares of 1p each
type of instrument
GB00BM8NGB73
Identification code
-------------------------- ------------------------------------------------
b) Nature of the transaction Conversion of Directors Loans into New Ordinary
Shares
-------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
25p 20,000
----------
-------------------------- ------------------------------------------------
d) Aggregated information
- Aggregated volume 20,000
- Price GBP5,000
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Louise Cretton
-------------------------- ------------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Pittards plc
-------------------------- ------------------------------------------------
b) LEI 213800HAJ6N27BURB995
-------------------------- ------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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, Ordinary shares of 1p each
type of instrument
GB00BM8NGB73
Identification code
-------------------------- ------------------------------------------------
b) Nature of the transaction Conversion of Directors Loans into New Ordinary
Shares
-------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
25p 20,000
----------
-------------------------- ------------------------------------------------
d) Aggregated information
- Aggregated volume 20,000
- Price GBP5,000
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Godfrey Davis
-------------------------- ------------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Pittards plc
-------------------------- ------------------------------------------------
b) LEI 213800HAJ6N27BURB995
-------------------------- ------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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, Ordinary shares of 1p each
type of instrument
GB00BM8NGB73
Identification code
-------------------------- ------------------------------------------------
b) Nature of the transaction Conversion of Directors Loans into New Ordinary
Shares
-------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
25p 40,000
----------
-------------------------- ------------------------------------------------
d) Aggregated information
- Aggregated volume 40,000
- Price GBP10,000
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Loxston
-------------------------- ------------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
a) Position/status PDMR
-------------------------- ------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Pittards plc
-------------------------- ------------------------------------------------
b) LEI 213800HAJ6N27BURB995
-------------------------- ------------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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, Ordinary shares of 1p each
type of instrument
GB00BM8NGB73
Identification code
-------------------------- ------------------------------------------------
b) Nature of the transaction Conversion of Directors Loans into New Ordinary
Shares
-------------------------- ------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
25p 8,000
----------
-------------------------- ------------------------------------------------
d) Aggregated information
- Aggregated volume 8,000
- Price GBP2,000
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
e) Date of the transaction 11 April 2023
-------------------------- ------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
ROMFLFLLSLILLIV
(END) Dow Jones Newswires
April 11, 2023 07:17 ET (11:17 GMT)
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