Wey Education PLC Exercise of Options (6166Z)

TIDMWEY

RNS Number : 6166Z

Wey Education PLC

24 May 2021

24 May 2021

WEY EDUCATION PLC

("Wey Education" or the "Company")

Exercise of Options

The Company announces that employees have exercised options over 5,325,371 and 3,000,000 ordinary shares of 1 pence each ("Ordinary Shares") in the share capital of the Company pursuant to the EMI option scheme and Unapproved option scheme, respectively (the "Option Exercise").

Application has been made for the 8,325,371 new Ordinary Shares to be admitted to trading on AIM, which is expected to take place on 25 May 2021. The new Ordinary Shares will rank, pari pasu, with the existing Ordinary Shares in issue.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the FCA, the Company confirms that, following this issue, its issued share capital will comprise 148,183,842 Ordinary Shares of 1 pence each. All Ordinary Shares shall have equal voting rights and none of the Ordinary Shares are held in treasury. Accordingly, the figure of 148,183,842 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 FCA's Disclosure Guidance and Transparency Rules.

As a result of the increase in the issued share capital of the Company due to the Option Exercise, Jacqueline Daniell's (Chief Executive Officer) shareholding, in conjunction with Mr Paul Daniell, has reduced as a percentage of the total issued share capital of the Company from 7.38% to 6.96%.

Included in the employees who have exercised their options are the following directors/ PDMR's.

Barry Nichols-Grey has exercised 1,591,343 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 15.71 pence per share.

Barry Nichols-Grey has also exercised 1,500,000 options pursuant to an Unapproved Option Scheme. The options were granted in May 2018 at a price of 16.70 pence per share.

Tony Knowles has exercised 1,591,343 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 15.71 pence per share.

Tony Knowles has also exercised 1,500,000 options pursuant to an Unapproved Option Scheme. The options were granted in May 2018 at a price of 16.70 pence per share.

Esther Clarke has exercised 250,000 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 23.9 pence per share.

Sara de Freitas has exercised 233,333 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 23.9 pence per share.

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                         Barry Nichols-Grey 
     ---------------------------  ------------------------------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------- 
 a)   Position/status              Director/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           Ordinary shares of 1 pence each 
       financial instrument, 
       type of instrument           ISIN: GB00B54NKM12 
       Identification code 
     ---------------------------  ------------------------------------------------------------------------ 
 b)   Nature of the transactions   Exercise of options 
     ---------------------------  ------------------------------------------------------------------------ 
 c)   Price(s) and volume(s)                     Options                 Price(s)              Volume(s) 
                                                EMI                        15.71p               1,591,343 
                                                 Unapproved                 16.7p                1,500,000 
                                                              --------------------  ---------------------- 
     ---------------------------  ------------------------------------------------------------------------ 
 d)    Aggregated information 
         *    Aggregated volume      3,091,343 
                                     GBP500,500 
 
         *    Price 
     ---------------------------  ------------------------------------------------------------------------ 
 e)   Date of the transaction      24 May 2021 
     ---------------------------  ------------------------------------------------------------------------ 
 f)   Place of the transaction     Off market 
     ---------------------------  ------------------------------------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                         Tony Knowles 
     ---------------------------  ------------------------------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------- 
 a)   Position/status              Director/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           Ordinary shares of 1 pence each 
       financial instrument, 
       type of instrument           ISIN: GB00B54NKM12 
       Identification code 
     ---------------------------  ------------------------------------------------------------------------ 
 b)   Nature of the transactions   Exercise of options 
     ---------------------------  ------------------------------------------------------------------------ 
 c)   Price(s) and volume(s)                     Options                 Price(s)              Volume(s) 
                                                EMI                        15.71p               1,591,343 
                                                 Unapproved                 16.7p                1,500,000 
                                                              --------------------  ---------------------- 
     ---------------------------  ------------------------------------------------------------------------ 
 d)    Aggregated information 
         *    Aggregated volume      3,091,343 
                                     GBP500,500 
 
         *    Price 
     ---------------------------  ------------------------------------------------------------------------ 
 e)   Date of the transaction      24 May 2021 
     ---------------------------  ------------------------------------------------------------------------ 
 f)   Place of the transaction     Off market 
     ---------------------------  ------------------------------------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                         Esther Clarke 
     ---------------------------  ------------------------------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------------------------------ 
 a)   Position/status              Director/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           Ordinary shares of 1 pence each 
       financial instrument, 
       type of instrument           ISIN: GB00B54NKM12 
       Identification code 
     ---------------------------  ------------------------------------------------------------------- 
 b)   Nature of the transactions   Exercise of options 
     ---------------------------  ------------------------------------------------------------------- 
 c)   Price(s) and volume(s)                   Options               Price(s)              Volume(s) 
                                                EMI                    23.9p                 250,000 
                                                          --------------------  --------------------- 
     ---------------------------  ------------------------------------------------------------------- 
 d)    Aggregated information 
         *    Aggregated volume      250,000 
                                     GBP59,750 
 
         *    Price 
     ---------------------------  ------------------------------------------------------------------- 
 e)   Date of the transaction      24 May 2021 
     ---------------------------  ------------------------------------------------------------------- 
 f)   Place of the transaction     Off market 
     ---------------------------  ------------------------------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                         Sara de Freitas 
     ---------------------------  ------------------------------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------------------------------ 
 a)   Position/status              Director/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           Ordinary shares of 1 pence each 
       financial instrument, 
       type of instrument           ISIN: GB00B54NKM12 
       Identification code 
     ---------------------------  ------------------------------------------------------------------- 
 b)   Nature of the transactions   Exercise of options 
     ---------------------------  ------------------------------------------------------------------- 
 c)   Price(s) and volume(s)                   Options               Price(s)              Volume(s) 
                                                EMI                    23.9p                 233,333 
                                                          --------------------  --------------------- 
     ---------------------------  ------------------------------------------------------------------- 
 d)    Aggregated information 
         *    Aggregated volume      233,333 
                                     GBP55,767 
 
         *    Price 
     ---------------------------  ------------------------------------------------------------------- 
 e)   Date of the transaction      24 May 2021 
     ---------------------------  ------------------------------------------------------------------- 
 f)   Place of the transaction     Off market 
     ---------------------------  ------------------------------------------------------------------- 
 

Enquiries:

 
 Wey Education 
                                                 [phone] 
                                                  7999 +44 (0) 77 
 Barrie Whipp                                     3060 8766 
  Barry Nichols-Grey                              [phone] 
  Jacqueline Daniell                              8389 
 WH Ireland 
  (Financial Adviser, Nominated Adviser          [phone] 
  and Broker to Wey Education)                    1666 
 
   James Joyce 
   Chris Savidge 
   James Sinclair-Ford 
 Alma PR 
  (Public Relations adviser to Wey Education) 
                                                 [phone] 
  Josh Royston                                    979 
 

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May 24, 2021 08:26 ET (12:26 GMT)