Director/PDMR Shareholding

Cirata PLC

17 November 2023

 

[17] November 2023

Cirata plc

("Cirata" or the "Company")

Director/PDMR Shareholdings

Notification and public disclosure of transactions by persons discharging managerial responsibilities

Cirata plc (LSE: CRTA) provides the following notification of a transaction by persons discharging managerial responsibilities ("PDMR").

On 17 November 2023, Mr Stephen Kelly, Chief Executive Officer, purchased 248,600 Ordinary Shares in Cirata at a price of 48 pence per Ordinary Share.  Following this purchase and on completion of the Allotment Award share matching transaction, Mr Stephen Kelly will be the beneficial owner of  2,032,600 Ordinary Shares representing approximately 1.76% of the Company's "when issued" share capital.

The total beneficial shareholding of 2,032,600 Ordinary Shares  is comprised of  open market purchases by Mr Stephen Kelly totalling 1,182,680 Ordinary Shares, plus the company's share Allotment Award of 850,000[1] Ordinary Shares, giving a total beneficial ownership post allotment of 2,032,600 Ordinary Shares.   

The following represents the Director dealing

Buying PMDR	Ordinary shares purchased	Price of Ordinary Shares acquired, 17 November 2023	Total beneficial interest post purchase
Mr Stephen Kelly, CEO	248,600	48 pence	1,182,680

The following represents the Directors beneficial interest post the "Allotment Award" Shares

Transaction	Shares / %
Shareholding as of COB 16 Nov 23	1,182,680
Allotment Award Shares	850,000
Total beneficial Interest post Allotment Award	2,032,680
% beneficial Ordinary Share ownership post Allotment Award	1.76%

"Allotment Award"/Allotment Award Shares"

As previously disclosed on 3 July "Launch of Fund Fundraise" under the terms of Mr Stephen Kelly's service agreement, the Company has agreed (up to a capped limit) that during the 12-month period from the commencement of service, for every Ordinary Share purchased by Mr Stephen Kelly in the open market the Company will issue and allot on a 1-1 basis a match to this purchase.  This shall be limited to a maximum value of 1 times £425,000 (based on the price per Ordinary Share paid) (the "Allotment Award Shares").

The number of shares purchased by Mr Stephen Kelly that are eligible for a match have exceeded the capped limit of £425,000 (The book value of open market purchases to date is approximately £545,000). As a result, under the terms of the Allotment Award, Mr Stephen Kelly will be issued a further 850,000 Ordinary Shares. The Allotment Award Shares will be issued by the financial year end 2023.[2]

The Notification of Dealing Form for this transaction is included at the end of this announcement.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

This announcement contains information that qualifies or may qualify as inside information. The person responsible for arranging the release of this announcement on behalf of Cirata plc is Larry Webster, Company Secretary.

Cirata plc	Via FTI Consulting
Stephen Kelly, Chief Executive Officer
Ijoma Maluza, Chief Financial Officer
Daniel Hayes, Investor Relations
FTI Consulting	[phone]
Matt Dixon / Kwaku Aning / Usama Ali
Stifel (Nomad and Joint Broker)	[phone]
Fred Walsh / Richard Short / Tom Marsh
Liberum (Joint Broker)	[phone]
Max Jones / Ben Cryer / Miquela Bezuidenhoudt

About Cirata

Cirata accelerates data-driven revenue growth by automating data transfer and integration to modern cloud analytics and AI platforms without downtime or disruption. With Cirata, data leaders can leverage the power of AI and analytics across their entire enterprise data estate to freely choose analytics technologies, avoid vendor, platform, or cloud lock-in while making AI and analytics faster, cheaper, and more flexible. Cirata's portfolio of products and technology solutions make strategic adoption of modern data analytics efficient and automated. For more information about Cirata, visit www.cirata.com

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Kelly
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	Cirata plc
b)	LEI	213800Y1A75RSC698O04
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 10 p each ISIN: JE00B6Y3DV84
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 48 pence 248,600
d)	Aggregated information - Aggregated volume - Price	248,600 48 pence
e)	Date of the transaction	17 October 2023
f)	Place of the transaction	London Stock Exchange (XLON)

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[1] The number of shares allocated (850,00)  is derived by taking the agreed value cap of £425,000 and dividing by the purchase price per share (50 pence per share) of Mr Stephen Kelly's open market trades.

[2] The Company's issued share capital at 1 November 2023 consisted of 114,898,711 ordinary shares of ten pence each with voting rights admitted to trading. The Company holds no ordinary shares in Treasury. Upon completion of the Allotment Share Awards the issued share capital will increase by 850,000 shares leading to a total of 115,748,711 issued share capital.

 

END