Volvere PLC Directors' Dealings & Transaction in Own Shares (9470C)

TIDMVLE

RNS Number : 9470C

Volvere PLC

20 June 2019

Volvere plc

("Volvere" or the "Company")

Transaction in Own Shares, Related Party Transaction and Directors' Dealings

Volvere plc (AIM: VLE), the growth and turnaround investment company, announces that it purchased today 70,319 ordinary shares of 0.00001 pence each in the capital of the Company ("Ordinary Shares") at a price of 1215 pence per Ordinary Share as further detailed below. All of the repurchased shares will be held in treasury.

 
 Price (pence)   Date         Quantity   Venue 
     1,215       20/06/2019    70,319     LSE 
 

Following the above transaction, the Company will have 6,207,074 Ordinary Shares in issue and admitted to trading on AIM and will hold 4,372,892 Ordinary Shares in treasury. The number of shares in issue (excluding treasury shares), and the figure to be used as the denominator for calculations of interests in the Company's voting rights, is 1,834,182.

Directors' Dealings

David Buchler, Chairman of the Company has notified the Company that he has sold today 84,893 Ordinary Shares at a price of 1215 pence per Ordinary Share. Jonathan Lander and Nicholas Lander, both directors of the Company, have notified the Company that they have each acquired today 7,287 Ordinary Shares at a price of 1215 pence per Ordinary Share.

The interests of the directors in Ordinary Shares before and after these transactions are set out below:

 
     Director        Shareholding   % of TVR    Shares bought(sold)     Shareholding      % of TVR 
                       prior to      prior to                          following trade    following 
                         trade        trade                                                 trade 
   David Buchler       129,893        6.82           (84,893)              45,000           2.45 
     Jonathan 
       Lander          232,750        12.22            7,287              240,037          13.09 
     Nicholas 
       Lander          124,660        6.55             7,287              131,947           7.19 
 
 
 

Related Party Transaction

The purchase of the Ordinary Shares by the Company and the sale of Ordinary Shares by David Buchler is being treated as a related party transaction ("Transaction") for the purposes of Rule 13 of the AIM Rules for Companies. Jonathan Lander and Nicholas Lander, both directors of the Company independent of the Transaction, consider, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, that the terms of the Transaction are fair and reasonable insofar as the Company's shareholders are concerned.

This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information contact:

 
 Volvere plc 
 Jonathan Lander, CEO           Tel: + 44 (0) 20 7634 9707 
                                www.volvere.co.uk 
 Cairn Financial Advisers LLP 
  Sandy Jamieson/James Lewis      Tel: + 44 (0) 20 7213 0880 
 Hobart Capital Markets LLP 
  Lee Richardson                  Tel: + 44 (0) 20 7070 5691 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              a) David Buchler 
                                         b) Jonathan Lander 
                                         c) Nicholas Lander 
     ---------------------------  -------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                   a) Chairman 
                                         b) CEO 
                                         c) COO 
     ---------------------------  -------------------------------------------- 
 b)   Initial notification         Initial notification 
       /Amendment 
     ---------------------------  -------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                         Volvere plc 
     ---------------------------  -------------------------------------------- 
 b)   LEI                          213800GWXPMU8DUJ9G34 
     ---------------------------  -------------------------------------------- 
 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 0.00001 pence each 
       financial instrument, 
       type of instrument 
 
      Identification code          GB0032302688 
 
 b)   Nature of the transaction         a) Disposal of shares 
                                         b) Purchase of shares 
                                         c) Purchase of shares 
     ---------------------------  -------------------------------------------- 
 c)   Price(s) and volume(s) 
                                    -----------------------  --------------- 
                                     Price(s)                 Volume(s) 
                                    -----------------------  --------------- 
                                          a) 1215 pence            a) 84,893 
                                           b) 1215 pence            b) 7,287 
                                           c) 1215 pence            c) 7,287 
                                    -----------------------  --------------- 
 
 d)   Aggregated information 
 
      - Aggregated volume          N/A 
 
      - Price 
 
 e)   Date of the transaction      20 June 2019 
     ---------------------------  -------------------------------------------- 
 f)   Place of the transaction     London Stock Exchange (XLON) 
     ---------------------------  -------------------------------------------- 
 

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.

END

MSCPGUPWQUPBGAU

(END) Dow Jones Newswires

June 20, 2019 11:34 ET (15:34 GMT)