We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Science Group Plc | LSE:SAG | London | Ordinary Share | GB00B39GTJ17 | 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% | 415.00 | 410.00 | 420.00 | 415.00 | 415.00 | 415.00 | 3,450 | 07:43:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Consulting Svcs,nec | 98.82M | 10.56M | 0.2322 | 17.87 | 188.65M |
TIDMSAG
RNS Number : 6272A
Science Group PLC
30 September 2020
30 September 2020
Science Group plc
(the "Company" or "Science Group")
Proposed Director Dealing
Science Group announces that it has been notified by Martyn Ratcliffe, Executive Chairman of the Company of his intention to sell up to 2,000,826 ordinary shares of GBP0.01 each in the Company ("Sale Shares") at a price of 240 pence per Sale Share (the "Sale").
The Sale Shares represent approximately 4.8% of the Company's issued share capital excluding treasury shares. Assuming all the Sale Shares are sold, Martyn Ratcliffe will, following completion of the Sale, continue to have an interest in approximately 27.25% of the issued share capital (excluding treasury shares) of the Company.
Martyn Ratcliffe has undertaken that he will not dispose of any further ordinary shares for a period of 12 months after completion of the Sale (subject to customary exceptions).
The Company is not a party to the Sale and will not receive any proceeds from the Sale.
Background to the Transaction
In January 2019, at the conclusion of the strategic review, the Board of Science Group highlighted that while "the Company benefits from a supportive shareholder base, the lack of liquidity creates a market inefficiency which may impact the valuation of the Group."
Since 2010, the largest shareholder in the Company has been the Executive Chairman, Martyn Ratcliffe, following his investment in March of that year and the subsequent placing in May 2010. Mr Ratcliffe's current shareholding is 13,412,906 shares equivalent to 32.03% of the issued share capital excluding treasury shares. Due to the scale of Mr Ratcliffe's shareholding, each year shareholders and the Takeover Panel must also approve a waiver of Rule 9 of the Takeover Code in order that the Company can undertake share buy-backs.
Mr Ratcliffe has now agreed to reduce his shareholding in order to broaden the shareholder base and reduce shareholder concentration through the Sale. Following this transaction, Mr Ratcliffe will remain the Group's largest shareholder.
End
Science Group plc Tel: +44 (0) 1223 875 Sarah Cole, Company Secretary 200 www.sciencegroup.com Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) Tel: +44 (0) 20 7710 Nick Adams, Alex Price 7600 Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20 3100 Neil Patel, Cameron Duncan 2000 MHP Communications (PR Advisor to Science Group) Tel: +44 (0) 20 3128 Reg Hoare, James Bavister, Pete Lambie 8100 sciencegroup@mhpc.com
Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (No 596/2014). The person responsible for this announcement is Sarah Cole, Company Secretary .
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHKKKBDBBKDCCN
(END) Dow Jones Newswires
September 30, 2020 08:30 ET (12:30 GMT)
1 Year Science Chart |
1 Month Science Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions