Director/PDMR Shareholding

RNS Number : 3943E

Altitude Group PLC

03 July 2019

 

3 July 2019

ALTITUDE GROUP PLC

 (the "Company", the "Group" or "Altitude")

Director/PDMR Shareholding

Altitude Group plc (AIM: ALT), the operator of a leading marketplace for personalised products, announces that the Company was informed today of two sales of ordinary shares of 0.4p each ("Ordinary Shares") in Altitude Group plc by a director of the Company.

Martin Varley, Non-Executive Director, sold 2,000,000 Ordinary Shares at a price of 100 pence per Ordinary Share on 3 July 2019 and 125,000 Ordinary Shares at a price of 110 pence per Ordinary Share on 28 June 2019 (together the "Share Sales"). Mr. Varley has completed the Share Sales in order to satisfy significant demand in the market from institutional investors and to provide some required liquidity in his private life.  

Following the Share Sales Mr. Varley is beneficially interested in 10,079,618 Ordinary Shares representing 14.84% per cent. of the Company's issued Ordinary Share capital and Mr. Varley has entered into a 12-month lock-in agreement with finnCap Ltd, Altitude's Nominated Adviser and Broker, with respect to these shares.   

Commenting on his recent share sales Mr. Varley said:

"I wish to remind shareholders that I remain heavily invested in the Group that I founded, and I remain a long-term significant shareholder. There are inevitably times where one needs some personal liquidity to satisfy existing obligations and I hope the lock-in agreement I have entered into over my remaining holding demonstrates the continuing nature of my total belief and support in the Group.

At the same time, I strongly believe that further diversifying and strengthening of our share register with institutional grade investors will serve the Group well and I am pleased that these necessary share sales have been able to further this ambition.    

I continue to look forward to the future with much excitement and great confidence in the Board and the wider Altitude team to continue to deliver on the significant opportunity before us."        

Enquiries:

Altitude Group plc Nichole Stella, Chief Executive Officer Graeme Couturier, Chief Financial Officer Peter Hallett, Non-Executive Chairman	Via Instinctif - 020 7457 2020
finnCap ltd	020 7220 0500
Jonny Franklin-Adams (Corporate Finance)
Scott Mathieson (Corporate Finance)
Richard Chambers (ECM)
Instinctif Partners (Financial PR)	020 7457 2020
Matthew Smallwood
Chantal Woolcock

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	Martin Varley
2.	Reason for the Notification
a)	Position/status	PDMR: Non-Executive Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Altitude Group plc
b)	LEI	213800VACSTYYSI39R89
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 0.4p
	Identification code	GB00B0LSFV82
b)	Nature of the transaction	Sale of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 100 pence 2,000,000 110 pence 125,000
d)	Aggregated information: ·      Aggregated volume ·      Price	2,125,000 100.59 pence
e)	Date of the transaction	28 June 2019 and 2 July 2019
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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