Issue of Shares in Lieu of Bonus

Slingsby(H.C.)Plc

30 October 2024

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS DEFINED BY THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014, WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").  UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

30 October 2024

H C SLINGSBY PLC

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

Issue of Shares in Lieu of Bonus

HC Slingsby PLC, one of the market leaders in the distribution of industrial and commercial equipment, is pleased to announce that a discretionary bonus of £157,500 has been awarded to Morgan Morris, Group Chief Executive, for his previous and continued service to the Company, which is to be satisfied by the issuance of 52,500 new ordinary shares of 25 pence each in the Company ("Ordinary Shares") at a price of 300 pence per share (the "Equity Bonus"), being the closing current mid-market share price on 29 October 2024.

Admission to AIM

Application will be made to the London Stock Exchange for the 52,500 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is anticipated that Admission will occur, and dealings will commence in the New Ordinary Shares at 8.00 a.m. on, or around, 4 November 2024.

Related Party Transaction

Morgan Morris is the Group Chief Executive Officer and a Director of Slingsby and, therefore, the Equity Bonus is treated as a related party transaction under the AIM Rules for Companies. The Independent Director, Andrew Kitchingman, considers, having consulted with Allenby Capital Limited, the Company's Nominated Adviser, that the terms of the Equity Bonus are fair and reasonable insofar as the Company's shareholders are concerned.

Director's interest in the Company

Following Admission, Morgan Morris will be interested in a total of 157,989 Ordinary Shares which will be equivalent to 14.33% of the enlarged number of voting rights in the Company.

The FCA notification, made in accordance with the requirements of UK MAR, is appended below.

Total Voting Rights

Following Admission, the Company will have 1,102,500 Ordinary Shares in issue, each with one voting right. There are no Ordinary Shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 1,102,500.

This figure may be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

H C Slingsby PLC	Tel: [phone]
Andrew Kitchingman, Non-Executive Chairman
Morgan Morris, Group Chief Executive
Allenby Capital Limited (Nominated adviser and Broker)	Tel: [phone]
Alex Brearley / George Payne (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)

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	Morgan Morris
2	Reason for the notification
a)	Position/status	Group Chief Executive Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	H C Slingsby plc
b)	LEI	2138004NA2QBB4KXV279
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 25 pence each in H C Slingsby plc GB0008138009
b)	Nature of the transactions	Issue of new Ordinary Shares to Director
c)	Price(s) and volume(s)	Price(s) 300p	Volume(s) 52,500
d)	Aggregated information - Aggregated volume - Price - Principal amount	N/A
e)	Dates of the transaction	29 October 2024
f)	Place of transaction	Outside a trading venue

 

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