Wey Education PLC Director/PDMR Shareholding (5923U)

TIDMWEY

RNS Number : 5923U

Wey Education PLC

26 November 2019

26 November 2019

WEY EDUCATION PLC

("Wey" or "the Company")

Director Dealings

Following the Company's preliminary announcement and meetings with existing and potential investors, the Company's broker received indications of interest in share purchases from a number of institutional investors. The Board believes that a wider spread of supportive investors is beneficial for public companies in general and consulted existing shareholders who held shares in sufficient numbers as to whether they could assist in satisfying this demand. Accordingly, the Company has received notification that Jacqueline Daniell, CEO and Paul Daniell, a Director of Interhigh Education Limited, a subsidiary company, have jointly agreed the sale of 2,750,000 Ordinary Shares in the Company to an institutional shareholder at a price of 11.25 pence per share.

Following these transactions Jacqueline and Paul Daniell's interest in the share capital of the Company is 10,316,490 Ordinary Shares, representing 7.5 per cent. of the Company's issued share capital.

Comment

Barrie Whipp, Chairman, commented "I am delighted that we have experienced strong institutional demand for our shares which has enabled this transaction. I am encouraged that further institutional shareholders are supportive of our strategy and the Board is pleased that our shareholder base has been broadened."

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                           Jacqueline & Paul Daniell 
     -----------------------------  ---------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------- 
 a)   Position/status                PDMR 
     -----------------------------  ---------------------------------------------- 
 b)   Initial notification/          Initial Notification 
       Amendment 
     -----------------------------  ---------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------------- 
 a)   Name                           Wey Education plc 
     -----------------------------  ---------------------------------------------- 
 b)   LEI                            2138009M9659SXKA3I32 
     -----------------------------  ---------------------------------------------- 
 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 financial   Ordinary shares of 1 pence each 
       instrument, type of 
       instrument                     ISIN: GB00B54NKM12 
       Identification code 
     -----------------------------  ---------------------------------------------- 
 b)   Nature of the transactions     Sale of shares 
     -----------------------------  ---------------------------------------------- 
 c)   Price(s) and volume(s)                     Price(s)               Volume(s) 
                                       11.25 pence                       2,750,000 
                                                             --------------------- 
     -----------------------------  ---------------------------------------------- 
 d)    Aggregated information 
         *    Aggregated volume        2,750,000 
                                       GBP309,375 
 
         *    Price 
     -----------------------------  ---------------------------------------------- 
 e)   Date of the transaction        25 November 2019 
     -----------------------------  ---------------------------------------------- 
 f)   Place of the transaction       Off market 
     -----------------------------  ---------------------------------------------- 
 
 
 Enquiries: 
 Wey Education Plc 
 Barrie Whipp (Chairman)                    [phone] 
 Barry Nichols-Grey (Executive Director 
  - Finance)                                [phone] 
  WH Ireland Limited (Nominated Advisor 
   and Broker) 
 James Joyce (Corporate Finance)            [phone] 
 

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November 26, 2019 02:02 ET (07:02 GMT)