PDMR Dealings and Directorate Change

RNS Number : 9989M

Gear4music (Holdings) PLC

20 October 2016

 

Gear4music (Holdings) plc

PDMR Dealings & Directorate Change

On 19 October 2016, the board of Gear4music (Holdings) plc ("Gear4music" or the "Company") was informed that Key Capital Partners (Nominees) Limited ("KCP") had sold 829,482 shares. KCP is classified as a Person Closely Associated with Peter Armitage, a Non-Executive Director of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member. KCP no longer has a notifiable interest in the Company. The above transaction, which was completed at 360 pence per share, took place on 19 October 2016.

Separately, the Company announces that, following the above transaction, Mr Armitage will step down from the Board with immediate effect.

Andrew Wass, Chief Executive Officer, said:

"Key Capital's decision to invest in the business in 2012 has been integral to our subsequent development and setting us on the path to growth. With Peter stepping away from the Board, now would seem the appropriate juncture to recognise the very significant contribution they have made over a number of years. I would like to wish both Peter and Key Capital all the very best in their future endeavours."

- Ends -

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMR") and persons closely associated ("PCA") with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Names	Key Capital Partners (Nominees) Limited
2	Reason for the notification
a)	Position/status	KCP is classified as a PCA of Peter Armitage, a Non-Executive Director and PDMR of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member.
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gear4music (Holdings) plc
b)	LEI	ISIN = GB00BW9PJQ87
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 10p each
b)	Identification code	GB00BW9PJQ87
c)	Nature of the transactions	Sale of Ordinary Shares
d)	Price(s) and volume(s)	Volume(s): KCP - 829,482 shares Price: £3.60 per share
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transactions	19 October 2016
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

Name of authorised official of issuer responsible for making notification:

Chris Scott

Company Secretary to Gear4music (Holdings) plc

For further information please contact

Gear4music                                                                                                                                         [phone]

Andrew Wass, Chief Executive Officer

Chris Scott, Chief Financial Officer

Panmure Gordon                                                                                                                              [phone]

(Financial Adviser, Nominated Adviser and Broker)

Andrew Godber / Peter Steel - Investment Banking

Erik Anderson / Tom Salvesen - Corporate Broking

MHP Communications (Financial PR)                                                                                      [phone]

Andrew Leach

Simon Hockridge

Isabelle Grainger

 

END

 

 

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