Source - RNS
RNS Number : 8758J
GW Pharmaceuticals PLC
14 September 2016
 

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

Dr Stephen Wright

2.         

Reason for the notification

a.         

Position/status

Director/Chief Medical Officer

b.         

Initial notification

/Amendment

Initial notification

3.         

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

a.         

Name

GW Pharmaceuticals 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

Identification code

 

Ordinary shares of 0.1p each

ISIN: GB0030544687

b.         

Nature of the transaction

Exercise of share options to acquire ordinary shares.

 

c.         

Price(s) and volume(s)

 

Price(s)

 28.15p

Volume(s)

198,288

 

Ordinary shares acquired pursuant to option exercise

d.         

Aggregated information

·      Aggregated volume

·      Price

 

 

 

n/a

e.         

Date of the transaction

13 September 2016

f.         

Place of the transaction

 London

 

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

Identification code

Ordinary shares of 0.1p each and American Depositary Shares

 

 Ordinary Shares: ISIN: GB0030544687

American Depositary shares: ISIN: 36197T1034

b.         

Nature of the transaction

Conversion of 198,288 Ordinary shares into American Depositary Shares (12 to 1 conversion ratio) to create 16,524 ADSs

 

c.         

Price(s) and volume(s)

 

Price(s)

 -

Volume(s)

16,524

 

ADS's issued upon conversion of 198,288 Ordinary shares

d.         

Aggregated information

·      Aggregated volume

·      Price

 

 

 

n/a

e.         

Date of the transaction

13 September 2016

f.         

Place of the transaction

Outside a trading venue

 

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

Identification code

 

 

American Depositary Shares

ISIN: 36197T1034

b.         

Nature of the transaction

Sale of American Depositary shares

 

c.         

Price(s) and volume(s)

 

Price(s)

 $98.75

Volume(s)

16,524

 

ADS's sold

d.         

Aggregated information

·      Aggregated volume

·      Price

 

 

 

n/a

e.         

Date of the transaction

13 September 2016

f.         

Place of the transaction

Nasdaq, New York

 

 

Explanatory note: On 13 September 2016 Dr Stephen Wright exercised options to acquire 198,288 0.1 pence Ordinary shares for an average exercise price of 28.15 pence per share. These were immediately converted into 16,524 American Depositary Shares and sold via Nasdaq for an average price of $98.75 per ADS.  The sale represents less than 0.1% of shares in issue. This sale of shares by Dr Stephen Wright is in accordance with the disclosures contained within the prospectus dated 14 July 2016 whereby the sale of up to 200,000 Ordinary shares by Dr Wright was agreed by the underwriters to be specifically excluded from the lock-up arrangements entered into by the Directors of the Company.


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