Treasury Stock

RNS Number : 1235H

Quarto Group Inc

15 August 2016

 

15 August 2016

The Quarto Group, Inc.

("Quarto", "the Group" or "the Company") 

Director Dealings/Sale of Treasury Stock

As notified on 11 August 2016, following the exercise of options by Marcus Leaver of 666,666 nil cost options awarded to him under the Group's Performance Share Plan ("PSP"), Quarto transferred 666,666 shares of common stock of US$0.10 to Mr Leaver on 9 August 2016 out of 747,821 Shares that it held in Treasury to satisfy the exercise.

On 12 August 2016 Marcus Leaver informed the Company that he had sold 313,333 Shares at a price of 250 pence per Share to settle the tax liability arising from the exercise of options under the PSP. 

Following these transactions Marcus Leaver has a total beneficial holding of 377,889 Shares representing 1.85% of the Company's issued share capital.

The Company also sold the remaining 81,155 Shares it held in Treasury on 12 August 2016 at a price of 250 pence per Share.  Following these transactions, the Company no longer holds any Shares in Treasury and the total number of Shares in issue is 20,444,550.  The figure of 20,444,550 Shares may be used by shareholders 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. 

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1	Details of person discharging managerial responsibilities/person closely associated
a)	Name	MARCUS LEAVER
2	Reason for the notification
a)	Position/status	CHIEF EXECUTIVE OFFICER
b)	Initial notification/Amendment	INITIAL NOTIFICATION
3	Details of the issuer, emissions, allowance market participant, auction platorm, auctioneer or auction monitor
a)	Name	THE QUARTO GROUP, INC.
b)	LEI
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 intrument	SHARES OF COMMON STOCK OF US$0.10 EACH ("SHARES")
	Identification Code	US74772E1001
b)	Nature of the transaction	SALE OF SHARES TO COVER INCOME TAX AND EMPLOYEE NATIONAL INSURANCE FOLLOWING THE EXERCISE OF OPTIONS
c)	Price(s) and volume(s)	Price(s)	Volumes(s)
		250 pence	313,333
d)	Aggregated information
	- aggregated volume
	- price
e)	Date of transaction	12 AUGUST 2016
f)	Place of transaction	LONDON STOCK EXCHANGE (XLON)

Ends

For further information please contact:

Quarto	020 7700 9002
Michael Connole, CFO
Dorothée de Montgolfier, Group Director of Communications
Bell Pottinger	020 3772 2491
Elly Williamson
Lucy Stewart

About The Quarto Group: 

The Quarto Group (LSE: QRT) is the leading global illustrated non-fiction book publisher and distribution group, whose mission is to make and sell great books that entertain, educate and enrich the lives of adults and children around the world. 

Quarto creates and owns proprietary content, publishing books from a diverse portfolio of imprints that are creatively independent and expert in developing long-lasting content across specific niches of interest.

Quarto sells books across 45 countries and in 35 languages through a variety of traditional and non-traditional channels, while constantly looking for new ways to create and deliver content that people need.

Quarto employs over 400 talented people in the US, UK, Hong Kong, Australia and New Zealand. The group was founded in London in 1976. It is domiciled in the US and listed on the London Stock Exchange. 

For more information, visit quartoknows.com or follow us on Twitter at @TheQuartoGroup. 

 

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