PDMR Announcement

RNS Number : 4220A

K3 Business Technology Group PLC

01 June 2021

 

AIM: KBT

1 June 2021

K3 Business Technology Group plc

("K3", "Company" or "Group")

PDMR Announcement

K3 Business Technology Group plc received notification on 28 May 2021 from Kestrel Partners LLP ("Kestrel") that following an agreement by Kestrel to transfer its Inheritance Tax Solutions business ("KITS") to a third party, it will cease to have management control over 347,279 ordinary shares of 25p each in the Company ("Shares"). Kestrel will therefore no longer include these shares in any future notifications of its interests. In addition, it acquired, on behalf of its discretionary clients, 1,500 Shares at a price of £1.90 per share. The notification also included the matters set out below.

Mr Scott, a non-executive director of K3, is a partner of, and holds a beneficial interest in Kestrel. Mr Scott is also a shareholder in one of Kestrel's clients ("Kestrel Opportunities") and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in K3 Business Technology Group plc.

Following these transactions, Kestrel Opportunities holds (and consequently Mr Scott is deemed to have a beneficial interest in) 8,493,379 Shares in the Company, and other clients of Kestrel, in which Mr Scott has no beneficial interest hold 2,438,080 Shares in the Company.

On a combined basis, Kestrel indirectly holds voting rights over 10,931,459 Shares in the Company, which represents 24.44% per cent of the Company's issued share capital.

Kestrel's interest in the Shares in the Company is held through the following nominees:

Holding type	Nominee	No. of shares	% of issued share capital
Indirect	Bank of New York Nominees Ltd	8,493,379	18.99%
Indirect	JIM Nominees Limited	67,302	0.15%
Indirect	Bank of New York Nominees Ltd	2,370,778	5.30%

For further information contact:

K3 Business Technology Group plc		[phone]
M arco Verggani, CEO
Rob Price, CFO
finnCap Ltd		[phone]
Nominated Adviser and Broker
Julian Blunt/James Thompson (Corporate finance)
Richard Chambers (Corporate Broking)

ANNEX

Template for 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	Kestrel Partners LLP ('Kestrel')
2	Reason for the notification
a)	Position/status	PCA - Oliver Rupert Andrew Scott (non-executive director of K3 Business Technology Group plc and Partner in Kestrel)
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	K3 Business Technology Group plc
b)	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, type of instrument Identification code	25p Ordinary Shares ISIN: GB00B00P6061
b)	Nature of the transaction	Transfer Out / Purchase
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 347,279 Shares - Transfer Out £1.90 1,500  - Purchase
d)	Aggregated information - Aggregated volume - Price	Total 347,279 Shares Transfer Out at Nil Cost Toral purchase of 1,500 at £1.90 for value £2,850.
e)	Date of the transaction	28/05/2021
f)	Place of the transaction	London

 

END

 

 

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