1 February 2022
THE INCE GROUP PLC (the "Company")
Director and PDMR Transactions
Adrian Biles, a director of the Company, John Biles, a PDMR, and Robert Biles, all members of a concert party, have had an aggregate of 4,040,050 of their interests in the ordinary shares of 1 penny each in the Company ("Ordinary Shares") held on trust as collateral for the commitments of an entity (in which they were until recently interested) engaged in underwriting activities with Lloyd's of London. Adrian Biles and John Biles were jointly interested in 3,333,333 Ordinary Shares, John Biles in 161,208 Ordinary Shares (not 394,348 as previously announced) and Robert Biles in 545,509 Ordinary Shares which were subject to this arrangement. These shares represented an aggregate of 5.9% of the issued share capital of the Company out of their aggregate interest of 13,415,206 ordinary shares (19.6%).
The Company has been notified that these shares have been transferred out of the trust arrangement and are no longer held as collateral. Accordingly, the entire beneficial interests of Adrian Biles, John Biles and Robert Biles in the Company's Ordinary Shares are now held directly as follows:
|
| Number of Ordinary Shares | Percentage of issued Ordinary Shares |
| Adrian Biles | 7,610,664 | 11.1 |
| Adrian Biles and John Biles hold jointly | 3,333,333 | 4.9 |
| John Biles | 1,537,970 | 2.2 |
| Robert Biles | 933,239 | 1.4 |
Adrian, John and Robert Biles each continue to be interested in the same number of Ordinary Shares as immediately prior to the transfers into and out of the trust arrangement.
The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below. The notifications of these transactions pursuant to rule 8.3 of the City Code on Takeovers and Mergers is separately announced today.
FOR FURTHER INFORMATION, PLEASE CONTACT:
The Ince Group plc investorrelations@incegd.com
Adrian Biles, Group Chief Executive
Simon Oakes, Chief Financial Officer
Allenby Capital Limited - Nominated Adviser to the Company +44 (0) 20 3328 5656
Jeremy Porter / Piers Shimwell, Corporate Finance
Arden Partners plc - Broker to the Company +44 (0) 20 7614 5900
Simon Johnson, Equity Sales
Williams Nicolson - Financial PR +44 (0) 7767 345 563
Steffan Williams / Fraser Schurer-Lewis
ince@williamsnicolson.com
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 | Adrian Biles (CEO) John Biles (Head of Finance and Administration) | |||||||||
| 2. | Reason for the Notification | ||||||||||
| a) | Position/status | See 1a) above | |||||||||
| b) | Initial notification/Amendment | Initial Notification | |||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | The Ince Group plc | |||||||||
| b) | LEI | 2138005A5XOTI2MHP510 | |||||||||
| 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 1 penny each
| |||||||||
| Identification code | ISIN: GB00BZBY3Y09 | ||||||||||
| b) | Nature of the transaction | Release of shares held on trust as collateral | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information: - Aggregated volume - Price |
4,040,050 N/A | |||||||||
| e) | Date of the transaction | 31 January 2022 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
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