PDMR Announcement

K3 Business Technology Group PLC

02 May 2023

 

AIM: KBT

2 May 2023

K3 Business Technology Group plc

("K3", "Company" or "Group")

PDMR Announcement

K3, which provides business‐critical software solutions focused on fashion and apparel brands, has received notification from Kestrel Partners LLP ("Kestrel") that on 21 April 2023 it acquired, on behalf of its discretionary clients, 76,564 ordinary shares of 25p each ("Shares") in the Company at an average price of £1.10 per Share.

Mr Scott, a non-executive director of K3, is a partner of, and holds a beneficial interest in Kestrel. Mr Scott is also a shareholder in one of Kestrel's clients ("Kestrel Opportunities") and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in the Company.

Following these transactions, Kestrel Opportunities holds (and consequently Mr Scott is deemed to have a beneficial interest in) 8,550,302 Shares in the Company, and other clients of Kestrel, in which Mr Scott has no beneficial interest, hold 3,260,776 Shares in the Company.

On a combined basis, Kestrel indirectly holds voting rights over 11,811,078 Shares in the Company, which represents 26.40% per cent of the Company's issued share capital.

Kestrel's interest in the Shares in the Company is held through the following nominees:

Holding type	Nominee		No. of shares	% of issued share capital
Indirect	Bank of New York Nominees Ltd		8,550,302	19.11%
Indirect	JIM Nominees Limited		289,468	0.64%
Indirect Indirect	Bank of New York Nominees Ltd Northern Trust Company AVFC		2,596,546 374,762	5.80% 0.85%

Further details in respect of the purchase are provided below, in accordance with the EU Market Abuse Regulation (No 596/2014).

For further information contact:

K3 Business Technology Group plc	[phone]
Marco Vergani, CEO
Eric Dodd, CFO
finnCap Ltd	[phone]
Nominated Adviser and Broker
Julian Blunt/Milesh Hindocha (Corporate Finance)
Sunila de Silva/Harriet Ward (Corporate Broking)
KTZ Communications	[phone]
Katie Tzouliadis/Dan Mahoney

ANNEX

Template for 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	Kestrel Partners LLP ('Kestrel')
2	Reason for the notification
a)	Position/status	PCA - Oliver Rupert Andrew Scott (non-executive director of K3 Business Technology Group plc and Partner in Kestrel)
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	K3 Business Technology Group plc
b)	LEI	213800QOJ9OF2AV81748
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 Identification code	25p Ordinary Shares ISIN: GB00B00P6061
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)	21 April 2023 Price(s) Volume(s) £1.10 76,564 shares
d)	Aggregated information - Aggregated volume - Price	Total purchase of 76,564 at an average of £1.10 per Share
e)	Date of the transaction	21 April 2023
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

END