Director/PDMR Shareholding Total Voting Rights

RNS Number : 4949W

Watkin Jones plc

18 August 2020

 

For immediate release

18 August 2020

Watkin Jones plc

('Watkin Jones', the 'Group' or the 'Company')

Director/PDMR Shareholding

Total Voting Rights

Watkin Jones plc (AIM: WJG), the UK's leading developer and manager of residential for rent with a focus on the build to rent and purpose built student accommodation sectors , announces that on 17 August 2020, Richard Simpson, Chief Executive Officer, exercised 441,360 awards granted over ordinary shares of 1 penny each in the Company (the "Ordinary Shares") under the Watkin Jones Recruitment Plan (the "Awards").

Accordingly, application has been made for 441,360 new Ordinary Shares to be admitted to trading on AIM ("Admission").  It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 21 August 2020.

In conjunction with the exercise of the Awards, Mr Simpson sold 209,883 Ordinary Shares in order to pay the option price for the shares of 1 penny per share and to discharge the tax liabilities arising as the table below summarises:

Award	Number of Ordinary Shares exercised under the Awards	Number of Ordinary Shares sold to pay the option price and discharge tax liabilities	Balance of Ordinary Shares retained
2017 Buyout Award	441,360	209,883	231,477

The 2017 Awards are subject to a two year holding period from their vesting date of 10 April 2020.  In addition, Mr Simpson is required to hold a value of Ordinary Shares equivalent to 200% of his salary before a further sale of the retained Ordinary Shares relating to the Awards referenced above will be permitted.

Following the transactions, Mr Simpson has an interest in 516,987 Ordinary Shares representing 0.2 per cent. of the issued share capital of the Company.

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following this transaction its issued share capital will consist of 256,163,459 ordinary shares of 1 penny each. Shareholders may use this figure 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:

Watkin Jones plc
Richard Simpson, Chief Executive Officer	Tel: [phone]
Philip Byrom, Chief Financial Officer	www.watkinjonesplc.com
Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)		Tel: [phone]
Mike Bell / Ed Allsopp		www.peelhunt.com
Jefferies Hoare Govett (Joint Corporate Broker)		Tel: [phone]
Max Jones / Will Soutar		www.jefferies.com

Media enquiries:

Buchanan
Henry Harrison-Topham / Richard Oldworth Jamie Hooper / Steph Watson	Tel: [phone]
[e-mail]	www.buchanan.uk.com

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Simpson
2	Reason for the notification
a)	Position/status	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	Watkin Jones plc
b)	LEI	2138009X19O21NU5SG79
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	Awards over ordinary shares of 1 pence each
	Identification code	ISIN: GB00BD6RF223
b)	Nature of the transaction	Exercise of awards over Ordinary Shares of 1 pence each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			1 penny	441,360
d)	Aggregated information
	- Aggregated volume	441,360
	- Price	£ 4,413.60
e)	Date of the transaction	17 August 2020
f)	Place of the transaction	Outside trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Simpson
2	Reason for the notification
a)	Position/status	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	Watkin Jones plc
b)	LEI	2138009X19O21NU5SG79
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 1 pence each
	Identification code	ISIN: GB00BD6RF223
b)	Nature of the transaction	Sale of Ordinary Shares of 1 pence each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			145.6 pence	20 8,209
			145.6 pence	1,674
d)	Aggregated information
	- Aggregated volume	209,883
	- Price	£ 305,589.64
e)	Date of the transaction	18 August 2020
f)	Place of the transaction	London Stock Exchange, AIM

Notes to Editors

Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the Build to Rent and student accommodation sectors.  The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high quality developments.  Since 1999, Watkin Jones has delivered 41,000 student beds across 123 sites, making it a key player and leader in the UK purpose-built student accommodation market.  In addition, the Fresh Property Group, the Group's specialist accommodation management company, manages nearly 18,000 student beds and Build to Rent apartments on behalf of its institutional clients.  Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.  The Group is increasingly expanding its operations into the Build to Rent sector.

The Group's competitive advantage lies in its experienced management team and business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L.  For additional information please visit www.watkinjonesplc.com

 

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