Volta Finance Limited - Director/PDMR Shareholding

Volta Finance Limited (VTA/VTAS)

Notification of transactions by directors, persons discharging managerial
responsibilities and persons closely associated with them

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

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Guernsey, 31 July 2020

Pursuant to the announcement made on 5 April 2019 relating to changes to the payment of directors fees, Volta Finance Limited (the “Company” or “Volta”) has today purchased 6,407 ordinary shares of no par value in the Company (“Ordinary Shares”) at an average price of €4.65 per share.

Each director receives 30% of his or her Director’s fees for any year in the form of shares, which they are required to retain for a period of no less than one year from their respective date of issue.     

The shares will be issued to the Directors, who for the purposes of Regulation (EU) No 596/2014 on Market Abuse ("MAR") are "persons discharging managerial responsibilities" (a "PDMR")  

• Paul Meader, Chairman and a PDMR for the purposes of MAR, acquired 1,533 additional Ordinary Shares in the Company.  Following the settlement of this transaction, Mr Meader & persons closely associated with Mr Meader will have an interest in 40,598 Ordinary Shares, representing 0.11% of the issued shares of the Company;
   
• Paul Varotsis, Director and a PDMR for the purposes of MAR, acquired 1,201 additional Ordinary Shares in the Company.  Following the settlement of this transaction, Mr Varotsis will have an interest in  207,531 Ordinary Shares, representing 0.57% of the issued shares of the Company;
   
• Steve Le Page, Director and a PDMR for the purposes of MAR, acquired 1,348 additional Ordinary Shares in the Company.  Following the settlement of this transaction, Mr Le Page will have an interest in 35,248 Ordinary Shares, representing 0.10% of the issued shares of the Company;
   
• Graham Harrison, Director and a PDMR for the purposes of MAR, acquired 1,201 additional Ordinary Shares in the Company.  Following the settlement of this transaction, Mr Harrison will have an interest in 19,225 Ordinary Shares, representing 0.05% of the issued shares of the Company;
   
• Atosa Moini, Director and a PDMR for the purposes of MAR, acquired 1,124 additional Ordinary Shares in the Company.  Following the settlement of this transaction, Ms Moini will have an interest in 11,040 Ordinary Shares, representing 0.03% of the issued shares of the Company;

The notifications below, made in accordance with the requirements of MAR, provide further detail in relation to the above transactions:

1.  Details of the person discharging managerial responsibilities / person closely associated

a) Paul Meader Chairman and Director

b) Paul Varotsis Director

c) Steve Le Page Director

d) Graham Harrison Director

e) Atosa Moini Director

2

Reason for the notification

(a)

Position/status

Director

(b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name

Volta Finance Limited

(b)

LEI

2138004N6QDNAZ2V3W80

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 financial instrument, type of instrument Identification code

Ordinary Shares   GB00B1GHHH78

(b)

Nature of the transaction

Purchase and allocation of Ordinary Shares relation to the part-payment of Directors' fees for the quarter ended 31 July 2020

(c)

Price(s) and volume(s)

Price(s)

Volume(s)

€4.65

Total 6,407

(d) Aggregate information     Aggregated volume   Price

a) Paul Meader Chairman and Director   1,533     €4.65

b) Paul Varotsis Director      1,201     €4.65

c) Steve Le Page Director   1,348     €4.65

d) Graham Harrison Director   1,201     €4.65

e) Atosa Moini Director      1,124     €4.65

(e)

Date of transaction

31 July 2020

(f)

Place of transaction

On-market – London

CONTACTS

For the Investment Manager
AXA Investment Managers Paris
Serge Demay
[e-mail]

[phone]

Company Secretary and Administrator
BNP Paribas Securities Services S.C.A, Guernsey Branch
[e-mail] 
[phone]

Corporate Broker
Cenkos Securities plc
Andrew Worne
Daniel Balabanoff
Rob Naylor
[phone]

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ABOUT VOLTA FINANCE LIMITED

Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange's Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

Volta’s investment objectives are to preserve capital across the credit cycle and to provide a stable stream of income to its shareholders through dividends. Volta seeks to attain its investment objectives predominantly through diversified investments in structured finance assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; and, automobile loans. The Company’s approach to investment is through vehicles and arrangements that essentially provide leveraged exposure to portfolios of such underlying assets. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

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ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 753 investment professionals and €801 billion in assets under management as of the end of April 2020. 

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This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are "U.S. persons" for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. The company does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

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This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

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