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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Richoux | LSE:RIC | London | Ordinary Share | GB00B0NYFG99 | ORD 4P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | 0.75 | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMRIC
RNS Number : 0829W
Richoux Group PLC
09 November 2017
9 November 2017
Richoux Group plc (the "Company")
Director/PDMR Shareholdings
Share Incentive Award
The Company announces that on 9 November 2017, certain Directors/PDMRs have subscribed for a special class of restricted shares in Richoux Limited ("A Shares"), a wholly owned subsidiary of the Company, which may on vesting be exchanged for the relevant number of ordinary shares of 4 pence each in the Company ("Ordinary Shares") (the "Shares Incentives"). The subscription price for the A Shares is 1 penny per A Share.
The number of Ordinary Shares to be issued to each Director/PDMR in exchange for their A Shares will be determined by the following formula: the number of A Shares held multiplied by the closing mid-market price of the Ordinary Shares on the dealing day immediately preceding the vesting date less 10 pence, multiplied by 1,000. Pursuant to the Share Incentives, the relevant directors/PDMRs may acquire up to 3,400,000 Ordinary Shares in aggregate. The A Shares are equal in value to the net benefit that would be delivered if the Share Incentives were provided by way of a share option over Ordinary Shares at an exercise price of 10 pence per Ordinary Share (i.e. the value above 10 pence per Ordinary Share).
The A Shares can only be exchanged for Ordinary Shares if the average closing mid-market share price for the Ordinary Shares is 40p or more over any period of ten consecutive dealing days (the "Hurdle"). If the Hurdle is not met the A Shares will have no value. Subject to the Hurdle being met, the Share Incentives are exchangeable at the earliest of: (1) the second anniversary of the relevant subscription date, (2) a sale of 100% of the share capital of the Company to a third party or (3) a takeover event or a liquidation of the Company.
The Share Incentive subscriptions are set out below:
Directors' Holdings Number Maximum of A Shares number subscribed of Ordinary for Shares on exchange -------------------------- ------------- ------------- Simon Morgan Non-Executive Chairman 150 150,000 Mehdi Gashi Operations Director 2,500 2,500,000 Sameh Amer PDMR 750 750,000
9 November 2017
ENQUIRIES:
Richoux Group plc
Susan Ludley (020) 7483 7000
Cenkos Securities plc
Bobbie Hilliam (020) 7397 8900 1 Details of the person discharging managerial responsibilities/person closely associated --- --------------------------------------------------------------------------- a) Name: Simon Morgan --- -------------------------------- ----------------------------------------- 2 Reason for the notification --- --------------------------------------------------------------------------- a) Position/Status: Non-Executive Chairman --- -------------------------------- ----------------------------------------- b) Initial Notification/Amendment: Initial Notification --- -------------------------------- ----------------------------------------- 3 Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor --- --------------------------------------------------------------------------- a) Name: Richoux Group plc --- -------------------------------- ----------------------------------------- b) LEI: 2138001QX7TELHBM9E27 --- -------------------------------- ----------------------------------------- 4. Details of 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 Restricted shares in Richoux the financial Limited ("A Shares"), a wholly instrument: owned subsidiary of Richoux Group plc, which may, on the Identification applicable hurdle being met, code: be exchanged for the relevant number of ordinary shares of 4 pence each in Richoux Group plc. ISIN: GB00B0NYFG99 --- -------------------------------- ----------------------------------------- b) Nature of the Share Incentive Arrangement transaction: --- -------------------------------- ----------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s): --- -------------------------------- --------- ------------------------------ GBP0.01 To be determined on exchange. Upon the applicable hurdle being met, the A Shares may be exchanged for up to 150,000 ordinary shares of 4 pence each in Richoux Group plc. --- -------------------------------- --------- ------------------------------ d) Aggregated volume: To be determined on exchange. Price: Upon the applicable hurdle being met, the A Shares may be exchanged for up to 150,000 ordinary shares of 4 pence each in Richoux Group plc. GBP1.50 --- -------------------------------- ----------------------------------------- e) Date of the Transaction: 9 November 2017 --- -------------------------------- ----------------------------------------- f) Place of the Outside a trading venue Transaction: --- -------------------------------- ----------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated --- --------------------------------------------------------------------------- a) Name: Mehdi Gashi --- -------------------------------- ----------------------------------------- 2 Reason for the notification --- --------------------------------------------------------------------------- a) Position/Status: Operations Director --- -------------------------------- ----------------------------------------- b) Initial Notification/Amendment: Initial Notification --- -------------------------------- ----------------------------------------- 3 Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor --- --------------------------------------------------------------------------- a) Name: Richoux Group plc --- -------------------------------- ----------------------------------------- b) LEI: 2138001QX7TELHBM9E27 --- -------------------------------- ----------------------------------------- 4. Details of 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 Restricted shares in Richoux the financial Limited ("A Shares"), a wholly instrument: owned subsidiary of Richoux Group plc, which may, on the Identification applicable hurdle being met, code: be exchanged for the relevant number of ordinary shares of 4 pence each in Richoux Group plc. ISIN: GB00B0NYFG99 --- -------------------------------- ----------------------------------------- b) Nature of the Share Incentive Arrangement transaction: --- -------------------------------- ----------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s): --- -------------------------------- --------- ------------------------------ GBP0.01 To be determined on exchange. Upon the applicable hurdle being met, the A Shares may be exchanged for up to 2,500,000 ordinary shares of 4 pence each in Richoux Group plc. --- -------------------------------- --------- ------------------------------ d) Aggregated volume: To be determined on exchange.
Upon the applicable hurdle being Price: met, the A Shares may be exchanged for up to 2,500,000 ordinary shares of 4 pence each in Richoux Group plc. GBP25.00 --- -------------------------------- ----------------------------------------- e) Date of the Transaction: 9 November 2017 --- -------------------------------- ----------------------------------------- f) Place of the Outside a trading venue Transaction: --- -------------------------------- ----------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated --- --------------------------------------------------------------------------- a) Name: Sameh Amer --- -------------------------------- ----------------------------------------- 2 Reason for the notification --- --------------------------------------------------------------------------- a) Position/Status: PDMR --- -------------------------------- ----------------------------------------- b) Initial Notification/Amendment: Initial Notification --- -------------------------------- ----------------------------------------- 3 Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor --- --------------------------------------------------------------------------- a) Name: Richoux Group plc --- -------------------------------- ----------------------------------------- b) LEI: 2138001QX7TELHBM9E27 --- -------------------------------- ----------------------------------------- 4. Details of 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 Restricted shares in Richoux the financial Limited ("A Shares"), a wholly instrument: owned subsidiary of Richoux Group plc, which may, on the Identification applicable hurdle being met, code: be exchanged for the relevant number of ordinary shares of 4 pence each in Richoux Group plc. ISIN: GB00B0NYFG99 --- -------------------------------- ----------------------------------------- b) Nature of the Award of Series A ordinary shares transaction: --- -------------------------------- ----------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s): --- -------------------------------- --------- ------------------------------ GBP0.01 To be determined on exchange. Upon the applicable hurdle being met, the A Shares may be exchanged for up to 750,000 ordinary shares of 4 pence each in Richoux Group plc. --- -------------------------------- --------- ------------------------------ d) Aggregated volume: To be determined on exchange. Upon the applicable hurdle being Price: met, the A Shares may be exchanged for up to 750,000 ordinary shares of 4 pence each in Richoux Group plc. GBP7.50 --- -------------------------------- ----------------------------------------- e) Date of the Transaction: 9 November 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
END
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(END) Dow Jones Newswires
November 09, 2017 09:29 ET (14:29 GMT)
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