Director/PDMR Shareholding

RNS Number : 5418T

Marlowe PLC

25 March 2021

 

25 March 2021

Marlowe plc 

("Marlowe" or the "Group")

Director/PDMR Shareholding

On 19 March 2021 Marlowe was pleased to confirm the results of a significantly oversubscribed placing of new ordinary shares in the Group ("Ordinary Shares") to raise gross proceeds of £100 million (the "Placing").

As previously announced, the net proceeds of the Placing will provide the Group with significant additional resources with which to capitalise on acquisition opportunities in the short to medium term in line with its well-defined acquisition-led growth strategy.

The Group announces that it has been notified that Alex Dacre, the Group's Chief Executive Officer, and Charles Skinner, a Non-Executive Director of the Group, have today agreed, in light of additional institutional demand and following the crystallisation of personal tax liabilities that have arisen following the redemption in full of the 2016 Marlowe Incentive Scheme, details of which were announced by Marlowe on 5 February 2021 ("2021 Redemption"), to dispose of an aggregate of 740,000 existing Ordinary Shares between them at a price of 690 pence per Ordinary Share.

Messrs. Dacre and Skinner are therefore now beneficially interested in 4,654,352 Ordinary Shares (representing c.6.0 per cent. of the Group's issued share capital) and 505,084 Ordinary Shares (representing c.0.7 per cent. of the Group's issued share capital) respectively and have confirmed to the Group that they have no current intention of disposing of any further Ordinary Shares.

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: [phone]
Mark Adams, Group Finance Director	[e-mail]
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Nicholas Wells	Tel: [phone]
Ben Jeynes
Berenberg (Joint Broker)
Ben Wright
Mark Whitmore		Tel: [phone]
FTI Consulting
Nick Hasell
Alex Le May		Tel: [phone]

About Marlowe plc

Marlowe is a UK leader in business critical services and software which assure safety and regulatory compliance. The Group was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated safety and compliance services. It is focused on health & safety, compliance software, employment law & HR compliance, fire safety, security, water treatment & air hygiene and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides services to over 15% of Britain's commercial premises and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated compliance and safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as amended by Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

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	1. Dacre Holdings Limited 2. Friary Holdings Limited
2	Reason for the notification
a)	Position/status	1. Person closely associated with Alex Dacre, Chief Executive 2. Person closely associated with Charles Skinner, 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	Marlowe plc
b)	LEI	213800ZWSR4SBOM6B608
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 50 pence each
	Identification code	ISIN: GB00BD8SLV43
b)	Nature of the transaction	Sale of ordinary shares
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			1. 690 pence	1. 440,000
			2. 690 pence	2. 300,000
d)	Aggregated information	N/A single transactions
	- Aggregated volume
	- Price
e)	Date of the transaction	1. 25 March 2021 2. 25 March 2021
f)	Place of the transaction	AIMX

 

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