Purchase of Shares by Directors of Convex

RNS Number : 5705T

RBG Holdings PLC

26 March 2021

 

RBG Holdings Plc

(the "Company")

Purchase of Shares by Directors of Convex

The Company is pleased to announce that on 25 March 2021 the directors of Convex Capital Limited ("Convex") acquired a total of 103,295 ordinary shares of 0.002 pence each in the capital of the Company (the "Shares") at a price of 96 pence per Ordinary Share.

As previously stated in the announcement on 3 February 2021, the Shares were purchased as part of the arrangement between the directors of Convex and the Company to exchange their fixed base salary arrangements for a flexible commission structure directly linked to income from completed deals^[1].

The number of shares acquired by each director of Convex is summarised below: 

Name	No. of Shares held prior to Acquisition	No. of Shares Acquired	No. of Shares held post Acquisition	Aggregate holding as a % of issued share capital
Mike Driver (CEO)	2,311,994	51,757	2,363,751	2.76
Chris Froggatt (Partner)	848,962	28,869	877,831	1.03
Nathalie Hodgkinson (Partner)	294,281	22,669	316,950	0.37

Enquiries:

RBG Holdings plc Nicola Foulston, CEO	Via Newgate Communications
N+1 Singer (Nomad and Broker) Shaun Dobson / Alex Bond (Corporate Finance) Tom Salvesen (Corporate Broking)	Tel: [phone]
Newgate Communications (for media enquiries) Robin Tozer/Tom Carnegie	Tel: [phone]; [e-mail]

About RBG Holdings plc

RBG Holdings plc is a professional services group, which includes one of the UK's pioneering law firms, Rosenblatt Limited ("RBL"), which is a leader in dispute resolution.

RBL provides a range of legal services to its diversified client base, which includes companies, banks, entrepreneurs and individuals. Complementing this is RBL's increasingly international footprint, advising on complex cross-jurisdictional matters. RBL's practice areas include dispute resolution, financial crime, corporate, banking and finance, insolvency and financial restructuring, construction and projects, employment, financial services, IP/technology/media, real estate, regulatory and tax resolution.

The Company also provides litigation finance in selected cases through a separate arm, LionFish Litigation Finance (UK) Ltd ("Lionfish").  LionFish finances litigation matters being run by other solicitors in return for a significant return on the outcome of those cases. As such, the Company has two types of litigation investments - RBL's own client matters, and litigation matters run by third-party solicitors. LionFish is positioned to be a unique, alternative provider to the traditional litigation funders.

The Company also owns Convex Capital Limited ("Convex Capital"), a specialist sell-side corporate finance boutique, based in Manchester. Convex Capital is entirely focussed on helping companies, particularly owner-managed and entrepreneurial businesses, realise their value through sales to large corporates. Convex Capital identifies and proactively targets firms that it believes represent attractive acquisition opportunities.

^[1] The authority granted by management under the scheme is irrevocable and non-discretionary, and during a Close Period the Board has no power to invoke any changes to the authority. Any purchases will be undertaken at the sole discretion of N+1 Singer Limited. 

 

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