Source - RNS
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 £3.4 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 prior to Buy-back

% of TVR prior to Buy-back

Shares sold in Buy-back

Shareholding following Buy-back

% of TVR following 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

David Buchler, Non-executive Chairman

Jonathan Lander, CEO

Nick Lander, COO

 

 Tel: +44 20 7634 9707

N+1 Singer (Nominated Adviser and Broker)

Aubrey Powell

Liz Yong

James Hopton

Tel: + 44 20 7496 3000

 

 

 

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 /Amendment

 

Initial

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 the financial instrument, type of instrument

Ordinary shares of 0.00001 pence each



Identification code

GB0032302688



b)

 

Nature of the transaction

Sale of Ordinary Shares via Buy-back

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




(i)         835 pence

(ii)        835 pence

(i)         18,367

(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 /Amendment

 

Initial

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 the financial instrument, type of instrument

Ordinary shares of 0.00001 pence each



Identification code

GB0032302688



b)

 

Nature of the transaction

 

Sale of Ordinary Shares via 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
 
END
 
 
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