Source - RNS
RNS Number : 7520J
Gear4music (Holdings) PLC
14 September 2016
 

14 September 2016

Gear4music (Holdings) plc

 

Notification of transaction by Persons Discharging Managerial Responsibilities and persons closely associated with them

The board of Gear4music (Holdings) plc ("the Company") announces that on 13 September 2016, the Company was notified that Key Capital Partners (Nominees) Limited ("KCP") had sold 1,760,000 ordinary shares of 10 pence each in the capital of the Company. KCP is classified as a Person Closely Associated with Peter Armitage, a Non-Executive Director of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member.

This transaction took place on 12 September 2016 and was completed at a price of 210 pence per Ordinary Share. KCP's interest following the transaction is now in 3,069,482 Ordinary Shares, representing approximately 15.2% of the Company's issued share capital.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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

Key Capital Partners (Nominees) Limited

2

 

Reason for the notification

a)

 

Position/status

 

Person Closely Associated

Peter Armitage, a Non-Executive Director of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member.

 

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

a)

 

Name

 

Gear4music (Holdings) plc

b)

 

LEI

 

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 instrument, type of instrument

 

Ordinary Shares of 10 pence each in the capital of the Company

b)

Identification code 

 

GB00BW9PJQ87

c)

 

Nature of the transaction 

 

Sale of Ordinary Shares

d)

 

Price(s) and volume(s)

Price: £2.10

Volume(s) - 1,760,000

 

d)

 

Aggregated information 

- Aggregated volume

- Price

 N/a

 

e)

 

Date of the transaction 

12 September 2016

f)

 

Place of the transaction

London Stock Exchange, AIM (XLON)

 

Name of authorised official of issuer responsible for making notification.

Chris Scott

Company Secretary to Gear4music (Holdings) plc

- Ends -

 

For further information please contact

Gear4music                                                                                                                                        +44 843 155 0800

Andrew Wass, Chief Executive Officer

Chris Scott, Chief Financial Officer

 

Panmure Gordon                                                                                                                             +44 20 7886 2500

(Financial Adviser, Nominated Adviser and Broker)

Fred Walsh / Peter Steel - Investment Banking

Erik Anderson / Tom Salvesen - Corporate Broking

 

MHP Communications (Financial PR)                                                                                          +44 20 3128 8100

Andrew Leach

Simon Hockridge

Isabelle Grainger

 

Background to Gear4music

 

Operating from an office, showroom and distribution centre in York, the Group sells own-brand musical instruments and music equipment alongside premium third party brands including Fender, Yamaha and Gibson, to customers ranging from beginners to musical enthusiasts and professionals, in the UK and, more recently, into Europe.

  

Having developed its own ecommerce platform, with multilingual, multicurrency and fully responsive design websites covering 19 countries, the Group has rapidly expanded its database and continues to build its overseas presence.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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