Starvest PLC Issue of Equity and Directors' Holdings (9533S)

TIDMSVE

RNS Number : 9533S

Starvest PLC

14 July 2020

14 July 2020

Starvest Plc ("Starvest" or "the Company")

Issue of Equity, Total Voting Rights and Directors' Holdings

The Company is pleased to announce that it has resolved to issue a total of 539,097 new Ordinary shares of GBP0.01 in the Company ("Ordinary Shares") at a price of 11.5p per Ordinary Share as follows to two of its directors in lieu of fees for Q4 2019 and Q1, Q2 2020. The issue of new Ordinary Shares to directors is in accordance with the Company's focus on limiting the outflow of cash from the business, thereby preserving cash for investment opportunities as they present themselves.

The following table shows the number of new Ordinary Shares issued and their resultant total holdings:

 
 Shareholder/Director    Number of ordinary        Interest in    % of enlarged 
  name                        shares issued    enlarged issued    share capital 
                                                 share capital 
 Callum N Baxter                    460,869          7,639,388            13.27 
 Gemma Cryan                         78,228          1,241,112             2.16 
 

Application will be made for the new shares to be admitted to trading on AIM with admission expected to take place on, or around, 20 July 2020.

Following admission, the Company's enlarged share capital will comprise 57,573,986 Ordinary Shares. No shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights is 57,573,986. This figure may be used by shareholders 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Callum N Baxter

Chairman & Chief Executive

14 July 2020

Enquiries to:

Starvest PLC

Callum Baxter or Gemma Cryan 02077 696 876 [e-mail]

Grant Thornton UK LLP (Nomad)

Colin Aaronson, Harrison Clarke or Seamus Fricker 02073 835 100

SI Capital Ltd (Broker)

Nick Emerson or Alan Gunn 01483 413 500

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                         Callum Baxter 
      ---------------------------  ------------------------------------------ 
 2     Reason for the notification 
      ----------------------------------------------------------------------- 
 a)    Position/status              Chairman and CEO 
      ---------------------------  ------------------------------------------ 
 b)    Initial notification         Initial Notification 
        /Amendment 
      ---------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ----------------------------------------------------------------------- 
 a)    Name                         Starvest Plc 
      ---------------------------  ------------------------------------------ 
 b)    LEI                          2138002RU77NWA794295 
      ---------------------------  ------------------------------------------ 
 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           Ordinary Shares of 1.0p each 
        financial instrument, 
        type of instrument 
 
       Identification code          ISIN: GB0009619817 
 
 b)    Nature of the transaction    Issue of shares in lieu of Directors' 
                                     fees 
      ---------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s)        Name             Price(s)   Volume(s) 
                                      Callum Baxter    11.5       460,869 
                                                      ---------  ---------- 
                                   ---------------------------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume               460,869 
 
  - Price                           11.5 pence 
 
 e)    Date of the transaction      14 July 2020 
      ---------------------------  ------------------------------------------ 
 f)    Place of the transaction     Outside a trading venue 
      ---------------------------  ------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                          Gemma Cryan 
      ----------------------------  ---------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------- 
 a)    Position/status               Director 
      ----------------------------  ---------------------------------------- 
 b)    Initial notification          Initial Notification 
        /Amendment 
      ----------------------------  ---------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------- 
 a)    Name                          Starvest Plc 
      ----------------------------  ---------------------------------------- 
 b)    LEI                           2138002RU77NWA794295 
      ----------------------------  ---------------------------------------- 
 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            Ordinary Shares of 1.0p each 
        financial instrument, 
        type of instrument 
 
       Identification code           ISIN: GB0009619817 
 
 b)    Nature of the transaction     Issue of shares in lieu of Directors' 
                                      fees 
      ----------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s)         Name           Price(s)   Volume(s) 
                                       Gemma Cryan    11.5p      78,228 
                                                     ---------  ---------- 
                                    -------------------------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                78,228 
 
  - Price                            11.5 pence 
 
 e)    Date of the transaction       14 July 2020 
      ----------------------------  ---------------------------------------- 
 f)    Place of the transaction      Outside a trading venue 
      ----------------------------  ---------------------------------------- 
 

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 [e-mail] or visit www.rns.com.

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July 14, 2020 05:40 ET (09:40 GMT)