Director/PDMR Shareholdings

RNS Number : 8494C

Shearwater Group PLC

20 April 2017

 

20 April 2017

SHEARWATER GROUP PLC

(the "Company")

Director/PDMR Shareholdings

Shearwater Group plc (AIM: SWG), was notified of the following transactions in ordinary shares of 1 pence each in the Company ("Ordinary Shares") by Directors of the Company.

Certain Directors have signed commitments in respect of new Ordinary Shares pursuant to the conditional placing announced earlier today.  David Williams, Chairman has subscribed for 12,500,000 new Ordinary Shares.  In addition, Mo Stevens, Chief Executive Officer, and Non-executive Directors Robin Southwell, Stephen Ball and Giles Willits, have subscribed for 625,000 new Ordinary shares each.  The new Ordinary Shares are to be issued to those Directors at the issue price of 4 pence per share.

The Directors' participation in the Placing constitutes a related party transaction under the AIM Rules for Companies.  Chris Eadie is an independent director for the purposes of this transaction, and considers, having consulted with WH Ireland Limited, the Company's nominated adviser, that the terms of the Directors' subscription are fair and reasonable insofar as the shareholders of the Company are concerned.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	David Williams
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Shearwater Group plc
b)	LEI	N/A
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 of 1p each GB00B00T3528
b)	Nature of the transaction	Subscription for cash
c)	Price(s) and volume(s)	Price(s) Volume(s)  4p 12,500,000
d)	Aggregated information -      Aggregated volume -      Price	12,500,000 £500,000
e)	Date of the transaction	20 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mo Stevens
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	Shearwater Group plc
b)	LEI	N/A
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 of 1p each GB00B00T3528
b)	Nature of the transaction	Subscription for cash
c)	Price(s) and volume(s)	Price(s) Volume(s)  4p 625,000
d)	Aggregated information -      Aggregated volume -      Price	625,000 £25,000
e)	Date of the transaction	20 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Robin Southwell
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Shearwater Group plc
b)	LEI	N/A
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 of 1p each GB00B00T3528
b)	Nature of the transaction	Subscription for cash
c)	Price(s) and volume(s)	Price(s) Volume(s)  4p 625,000
d)	Aggregated information -      Aggregated volume -      Price	625,000 £25,000
e)	Date of the transaction	20 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Stephen Ball
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Shearwater Group plc
b)	LEI	N/A
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 of 1p each GB00B00T3528
b)	Nature of the transaction	Subscription for cash
c)	Price(s) and volume(s)	Price(s) Volume(s)  4p 625,000
d)	Aggregated information -      Aggregated volume -      Price	625,000 £25,000
e)	Date of the transaction	20 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Giles Willits
2	Reason for the notification
a)	Position/status	Non-executive Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Shearwater Group plc
b)	LEI	N/A
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 of 1p each GB00B00T3528
b)	Nature of the transaction	Subscription for cash
c)	Price(s) and volume(s)	Price(s) Volume(s)  4p 625,000
d)	Aggregated information -      Aggregated volume -      Price	625,000 £25,000
e)	Date of the transaction	20 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

Contacts:
Shearwater Group plc	www.theshearwatergroup.co.uk
David Williams Michael Stevens	[phone] [phone]
WH Ireland Limited - Nominated Adviser & Broker	www.whirelandplc.com
Mike Coe, Ed Allsopp	[phone]
Powerscourt - Financial PR	[e-mail]
Ben Griffiths, Andy Jones	[phone]

 

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