Volvere PLC Result of Buy-back, PDMR Dealing and TVR (5977T)

TIDMVLE

RNS Number : 5977T

Volvere PLC

13 October 2017

Volvere plc

("Volvere" or the "Company")

Result of Buy-back, PDMR Dealing and Total Voting Rights

Volvere plc, the growth and turnaround investment company, is pleased to announce that further to the announcement of 11 October 2017, the Buy-back was fully taken up. The Company has repurchased into treasury 407,595 ordinary shares of 0.00001 pence in the capital of the Company ("Ordinary Shares") at a purchase price of 835 pence per Ordinary Share, returning approximately GBP3.4 million to shareholders in accordance with the approval granted by shareholders at the general meeting of the Company held on 19 November 2012.

Directors' Dealings and Related Party Transactions

As previously indicated, Jonathan Lander, CEO, and Nicholas Lander, COO, participated in the Buy-back, selling in aggregate 157,195 Ordinary Shares at a price of 835 pence per Ordinary Share, as detailed below:

 
 Director    Shareholding       % of TVR         Shares   Shareholding     % of TVR 
                 prior to          prior           sold      following    following 
                 Buy-back    to Buy-back    in Buy-back       Buy-back     Buy-Back 
 Jonathan 
  Lander        1,023,677         25.12%        102,367        921,310       25.12% 
 Nicholas 
  Lander          548,277         13.45%         54,828        493,449       13.45% 
 Total          1,571,954         38.57%        157,195      1,414,759       38.57% 
 

In addition, Andrew Cohen, a substantial shareholder and director of a subsidiary of the Company, also participated in the Buy-back, selling 231,689 Ordinary Shares at a price of 835 pence per Ordinary Share.

David Buchler, the sole independent director, considers, having consulted with the Company's nominated adviser, N+1 Singer, that the terms of the participation of each of Jonathan Lander, Nicholas Lander and Andrew Cohen in the Buy-back are fair and reasonable insofar as the Company's shareholders are concerned.

Total Voting Rights

Following completion of the Buy-back, the Company has 6,207,074 Ordinary Shares in issue and admitted to trading on AIM and will hold 2,538,711 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 3,668,363 Ordinary Shares.

Capitalised terms not otherwise defined in this announcement shall have the meaning given to them in the announcement of 11 October 2017.

For further information, contact:

 
 Volvere plc                      Tel: [phone] 
  David Buchler, Non-executive     9707 
  Chairman 
  Jonathan Lander, CEO 
  Nick Lander, COO 
 N+1 Singer (Nominated Adviser   Tel: + 44 20 7496 
  and Broker)                     3000 
  Aubrey Powell 
  Liz Yong 
  James Hopton 
 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ---------------------------------------------------------------------------- 
 a)   Name                       Jonathan Lander 
---  -------------------------  ------------------------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------------------------- 
 a)   Position/status            CEO 
---  -------------------------  ------------------------------------------------- 
 b)   Initial notification       Initial 
       /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             Ordinary shares of 0.00001 
       the financial              pence each 
       instrument, type 
       of instrument 
--- 
 
      Identification             GB0032302688 
       code 
 
 b)   Nature of the              Sale of Ordinary Shares via 
       transaction                Buy-back 
---  -------------------------  ------------------------------------------------- 
 c)   Price(s) and volume(s) 
---                                 ---------------------  ------------------ 
                                     Price(s)               Volume(s) 
---                                 ---------------------  ------------------ 
                                          (i) 835 pence          (i) 18,367 
                                           (ii) 835 pence         (ii) 84,000 
                                    ---------------------  ------------------ 
 
 d)   Aggregated information 
--- 
 
      - Aggregated volume        102,367 Ordinary Shares 
 
      - Price                    835 pence 
 
 e)   Date of the transaction    13 October 2017 
---  -------------------------  ------------------------------------------------- 
 f)   Place of the transaction   London Stock Exchange (XLON) 
---  -------------------------  ------------------------------------------------- 
 
 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
----  ------------------------------------------------------------------ 
 a)    Name                           Nicholas Lander 
----  -----------------------------  ----------------------------------- 
 2     Reason for the notification 
----  ------------------------------------------------------------------ 
 a)    Position/status                COO 
----  -----------------------------  ----------------------------------- 
 b)    Initial notification           Initial 
        /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                 Ordinary shares of 0.00001 
        the financial                  pence each 
        instrument, type 
        of instrument 
---- 
 
       Identification                 GB0032302688 
        code 
 
 b)    Nature of the                  Sale of Ordinary Shares via 
        transaction                    Buy-back 
----  -----------------------------  ----------------------------------- 
 c)    Price(s) and volume(s) 
----                                  ----------------  -------------- 
                                       Price(s)          Volume(s) 
----                                  ----------------  -------------- 
    835 pence                                            54,828 
   ---------------------------------------------------  -------------- 
 
 d)    Aggregated information 
---- 
 
  - Aggregated volume            N/A 
 
  - Price 
 
 e)    Date of the transaction        13 October 2017 
----  -----------------------------  ----------------------------------- 
 f)    Place of the transaction       London Stock Exchange (XLON) 
----  -----------------------------  ----------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 13, 2017 09:35 ET (13:35 GMT)