Director/PDMR Shareholding

RNS Number : 1482B

musicMagpie plc

29 September 2022

 

29 September 2022

musicMagpie plc 

("musicMagpie" or "the Company")

Director/PDMR Shareholding

musicMagpie, a circular economy pioneer specialising in refurbished consumer technology in both the UK and US, announces that, on 27 September 2022, Martin Hellawell, Non-Executive Chair, purchased 800,000 ordinary shares of 1p each in the Company ("Ordinary Shares"), at a price of 12.73p.  On the same date, Steve Oliver, Chief Executive Officer, purchased 1,350,000 ordinary shares of 1p each in the Company ("Ordinary Shares"), at a price of 13.76p.  On the same date, Matthew Fowler, Chief Financial Officer, purchased 175,000 Ordinary Shares, at a price of 10.56p.  On the same date, Ian Storey, Chief Operating Officer, purchased 725,000 Ordinary Shares, at a price of 13.69p.

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 and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.  Martin Hellawell 2.  Steven Oliver 3.  Matthew Fowler 4.  Ian Storey
2	Reason for the notification
a)	Position/status	1.  Non-Executive Chair 2.  Chief Executive Officer 3.  Chief Financial Officer 4.  Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	musicMagpie plc
b)	LEI	213800QMKTKSDMQIR327
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	Ordinary shares of 1 pence each ("Ordinary Shares") ISIN:  GB00BKY4XG48
b)	Nature of the transaction	Acquisition of ordinary shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) Martin Hellawell 12.73p 800,000 Steven Oliver 13.76p 1,350,000 Matthew Fowler 10.56p 175,000 Ian Storey 13.69p 725,000
d)	Aggregated information - Aggregated volume - Price	Single transactions
e)	Date of the transaction	27 September 2022
f)	Place of the transaction	London Stock Exchange (XLON); AIM

For further information please contact:

musicMagpie plc Martin Hellawell, Non-Executive Chairman Steve Oliver, Chief Executive Matthew Fowler, Chief Financial Officer	[phone]
Peel Hunt LLP (Nominated Adviser and Joint Broker) Paul Gillam Tom Ballard James Smith	[phone]
Shore Capital Stockbrokers (Joint Broker) Malachy McEntyre Mark Percy Daniel Bush	[phone]
Powerscourt (Financial Public Relations) Rob Greening Genevieve Ryan Sam Austrums	[phone]

About musicMagpie

Operating through two trusted brands - musicMagpie in the UK and decluttr in the US - musicMagpie's core strategy is simple: to provide consumers with a smart, sustainable and trusted way to buy, rent and sell refurbished consumer technology and physical media products with sustainability running to the very heart of its operations. Founded in 2007, the Group has an established presence in the UK, with operations in Stockport, Greater Manchester, and in the US in Atlanta, Georgia.

musicMagpie has a strong environmental and social focus, as demonstrated by its trademarked 'smart for you, smart for the planet' ethos. Over 400,000 consumer technology products were resold in FY21. In addition, the Group re-sells approximately 2,500 tonnes of books and disc media each year that could have ended up as waste. During 2021, musicMagpie's UK consumer tech and disc media customers, along with its trade partners, helped to save over 50,000 tonnes of CO2 by buying, selling and renting with the Group - an amount equivalent to providing heating for over 18,000 homes. The Group has been given the London Stock Exchange's Green Economy Mark in recognition of its contribution to the global green economy.

When selling to musicMagpie, the customer is offered a fixed valuation via the website, provided with free logistics to ship the products and (subject to it being 'as described') receives payment for their product on the day of arrival at the Group's warehouse. The Group also recently partnered with Asda to give customers the option of using its SMARTdrop Kiosks in store for a fast and easy way to recycle phones for instant cash. Customers purchasing from musicMagpie receive branded refurbished product for a fraction of the price of buying new.

The Group has the highest number of seller reviews on both Amazon and eBay and has consistently achieved extremely positive feedback scores. The Group also has a 4.5* rating on UK Trustpilot with over 240,000 reviews. 

For further information please visit: www.musicmagpieplc.com

 

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