Total Voting Rights and Directors Dealings

Cavendish Financial PLC

20 February 2024

 

20 February 2024

Cavendish Financial plc

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

Total Voting Rights and Directors Dealings

Cavendish Financial plc (AIM:CAV) is pleased to announce that the invitation period for the Company's Co-Investment Share Plan (the "CiP") closed to eligible employees on 19 February and 56 employees have chosen to participate in the CiP.  

In aggregate, employees have contributed £1,211,000 for the subscription of new ordinary shares in Cavendish at 9.75p per share (the closing market price on 19 February 2024), and committed to purchase £72,820 worth of Cavendish shares, via monthly purchases in the market, using post-tax payroll deductions spread over the next 12 months. 

Accordingly, Cavendish has raised £1,211,000 of new capital through the issue of 12,420,500 new ordinary shares of 1 pence each under the CiP, which shares have been issued and allotted to the trustee of the Company's employee benefit trust, Ogier Global Trustee (Jersey) Limited, in its capacity as nominee on behalf of participants. 

The Company has applied for admission of these newly issued and allotted shares to trading on AIM.  Admission is expected to take place at 8.00 a.m. on 26 February 2024.

Subject to the rules of the CiP, (a summary of which has been previously announced), and all participants remaining in the CiP until the end of the 3-year lock up period, the estimated number of free shares that may be allotted under the CiP if (i) the minimum share price target is achieved, is c.6.2m new ordinary shares (c.1.7% of Cavendish's issued share capital, post the allotment announced today) and (ii) if the maximum share price target is achieved, is c.49.7m new ordinary shares (c.13.3% of Cavendish's issued share capital, post the allotment announced today).

Total Voting Rights

In compliance with the FCA's Disclosure Guidance and Transparency Rules, the Company announces that, as at today's date, it has 374,610,065 ordinary shares of 1 pence each in issue.  The Company does not hold any shares in treasury and all of the ordinary shares have equal voting rights.

The figure of 374,610,065 ordinary shares represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Rules.

Directors and PDMRs Dealings

In connection with their participation in the CiP, Cavendish announces today the following subscription of ordinary shares of 1 pence each by its directors and PDMRs pursuant to the CiP:

Director /PDMR	No. of Shares	Price per Share	Resulting Shareholding	Shareholding % of ISC
Julian Morse, Co-CEO	512,820	9.75p	5,893,271	1.6%
John Farrugia, Co-CEO	205,128	9.75p	2,132,797	0.6%
Ben Procter - CFO	512,820	9.75p	802,820	0.2%
Richard Snow - COO	205,128	9.75p	533,825	0.1%

Subject to the rules of the CiP, Cavendish also announces today the grant of the following conditional share awards over ordinary shares of 1 pence each to its directors and PDMRs:

Director / PDMR	Minimum No. of Shares subject to CiP Award	Price per Share	Maximum No. of Shares subject to CiP Award	Price per Share
Julian Morse, Co-CEO	256,410	Nil	2,051,280	Nil
John Farrugia, Co-CEO	102,564	Nil	820,512	Nil
Ben Procter - CFO	256,410	Nil	2,051,280	Nil
Richard Snow - COO	102,564	Nil	820,512	Nil

Further details of the subscriptions and conditional share awards are included in the notifications below, made in accordance with the requirements of the UK Market Abuse Regulation.

CONTACTS

Cavendish (Management)                                                                        Tel: [phone]

Julian Morse, Co-Chief Executive Officer                                               [e-mail]

John Farrugia, Co-Chief Executive Officer                                                          

Ben Procter, Chief Financial Officer

Grant Thornton (Nominated Adviser)                                    Tel: [phone]

Philip Secrett/Samantha Harrison/Ciara Donnelly

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Julian Morse
2	Reason for the notification
a)	Position/status	Co-CEO
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.0975	512,820
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Julian Morse
2	Reason for the notification
a)	Position/status	Co-CEO
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£nil	Minimum 256,410 Maximum 2,051,280
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Farrugia
2	Reason for the notification
a)	Position/status	Co-CEO
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.0975	205,128
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Farrugia
2	Reason for the notification
a)	Position/status	Co-CEO
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£nil	Minimum 102,564 Maximum 820,512
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ben Procter
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.0975	512,820
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ben Procter
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£nil	Minimum 256,410 Maximum 2,051,280
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Snow
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	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Subscription of shares under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.0975	205,128
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Snow
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	Cavendish Financial plc
b)	LEI	213800DLRUJW6JVNS533
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
	Identification code	GB00BGKPX309
b)	Nature of the transaction	Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£nil	Minimum 102,564 Maximum 820,512
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	19 February 2024
f)	Place of the transaction	Outside of trading venue

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