PDMR Announcement

RNS Number : 8029I

K3 Business Technology Group PLC

03 April 2020

 

 

AIM: KBT

3 April 2020

K3 Business Technology Group plc

("K3" or "Company")

PDMR Announcement

K3, which provides mission‐critical business software, cloud solutions and managed services, has received notifications from Oliver Scott (non-executive director of the Company, and a partner in Kestrel Partners LLP) of the following transactions in respect of ordinary shares of 25p each in the capital of the Company ("Ordinary Shares")

a.  As announced by the Company on 1 April 2020, clients of Kestrel Partners LLP acquired on 31 March 2020 an aggregate total of 600,000 warrants to subscribe for Ordinary Shares, exercisable at a price of £0.25 per Ordinary Share and within a period of 10 years ("Warrants");

b.  Kestrel Partners LLP further acquired 270,000 Ordinary Shares at a price of £0.75 per Ordinary Share on 1 April 2020, and 50,000 Ordinary Shares at a price of £0.80 per Ordinary Share on 3 April 2020 (the "Purchases").

Following the Purchases Kestrel Partners LLP is now interested in 10,354,591 Ordinary Shares representing 24.11% of the total voting rights of the Company, and 600,000 Warrants.

The Company makes the below announcement and notification in accordance with the EU Market Abuse Regulation (No 596/2014) in respect of the Purchases:

Enquiries:

K3 Business Technology Group plc	Adalsteinn Valdimarsson, CEO Rob Price, CFO	T: 0161 876 4498
finnCap Limited (NOMAD & Broker)	Julian Blunt/James Thompson (Corporate Finance) Camille Gochez (Corporate Broking)	T: 020 7220 0500
KTZ Communications	Katie Tzouliadis/Dan Mahoney	T: 020 3178 6378

1.	Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA')
a)	Name	Oliver Scott
2.	Reason for notification
b)	Position / status	Non-executive director
c)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
b)	Name	K3 Business Technology Group plc
c)	LEI	213800QOJ9OF2AV81748
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 Identification code	Warrants over ordinary shares of 25p each, exercisable at nominal value  n/a
b)	Nature of the transaction	grant of warrants to Kestrel Partners LLP clients in connection with loan funding arrangement
c)	Price(s) and volume(s)	Volume: 600,000 Price: n/a
d)	Aggregated information Aggregated volume Price	n/a
e)	Date of the transaction	31 March 2020
f)	Place of the transaction	Outside a trading venue

1.	Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA')
a)	Name	Oliver Scott
2.	Reason for notification
b)	Position / status	Non-executive director
c)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
b)	Name	K3 Business Technology Group plc
c)	LEI	213800QOJ9OF2AV81748
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  Identification code	ordinary shares of 25p each GB00B00P6061
b)	Nature of the transaction	Acquisition of ordinary shares of 25p each by Kestrel Partners LLP
c)	Price(s) and volume(s)	Volume: 320,000 Price: 270,000 Ordinary Shares at 75p per Ordinary Shares and 50,000 Ordinary Shares at 80p per Ordinary Share
d)	Aggregated information Aggregated volume Price	n/a
e)	Date of the transaction	1 April 2020 and 3 April 2020
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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