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Redde Plc (REDD)

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Monday 17 September, 2018

Redde Plc

Director/PDMR Shareholding and Total Voting Rights

• News Release •

Issue Date: 17 September 2018

Redde plc

(“Company”)

Director’s shareholding: exercise of options

The Company received notification on 14 September 2018 that on 14 September 2018:

 Martin Ward:

  1. exercised (at an exercise price of 0.10 pence per share) 535,880 options over the ordinary 0.10p shares in the Company ("Ordinary Shares") which he held under the Company's 2016 Performance Share Plan (the "Scheme"); and
  2. sold (at a sale price of 187.6 pence per share) 293,401 Ordinary Shares, as permitted by the rules of the Scheme, to meet the sale expenses and the resulting tax and national insurance liabilities.

Stephen Oakley:

  1. exercised (at an exercise price of 0.10 pence per share) 360,255 options over the ordinary 0.10p shares in the Company ("Ordinary Shares") which he held under the Company's 2016 Performance Share Plan (the "Scheme"); and
  2. sold (at a sale price of 187.6 pence per share) 197,245 Ordinary Shares, as permitted by the rules of the Scheme, to meet the sale expenses and the resulting tax and national insurance liabilities.

As a result of these transactions, Martin Ward and Stephen Oakley’s interests (including family interests) in the Ordinary Shares of the Company are as follows:

Director Number of Ordinary Shares held prior to these transactions Number of  Ordinary Shares
iIssued by way of exercise of options
Number of  Ordinary Shares
sold to meet tax liabilities
Number of Ordinary Shares held following these transactions Percentage of total voting rights held after these transactions
Martin Ward 3,681,982 535,880 293,401 3,924,461 1.285%
Stephen Oakley 1,830,610 360,255 197,245 1,993,620 0.653%

The Company’s capital consists of 305,276,076 ordinary shares of 0.1 pence each in issue, each with voting rights. This figure (may be used by shareholders in the Company 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The notifications below, made in accordance with the Market Abuse Regulation, provide further detail.

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 Martin Ward
2 Reason for the notification
a) Position/status Director
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Redde plc
b) LEI 21380063LFNLZM7AYT28
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
Transaction 1
a) Description of the financial instrument, type of instrument

Identification code
Options over ordinary shares.



GB00BLWFOR63
b) Nature of the transaction Exercise of options over ordinary shares.
 
c) Price(s) and volume(s)
Transaction Price(s) Volume(s) Total
Exercise £0.001 535,880 £535.88
d) Aggregated information N/A
-Aggregated volume
-Price

N/A
e) Date of the transaction 14 September 2018.
 
f) Place of the transaction Outside of trading venue.
 
Transaction 2
Description of the financial instrument, type of instrument

Identification code
Ordinary shares.






GB00BLWFOR63
Nature of the transaction Sale of ordinary shares.
 
Price(s) and volume(s)
Transaction Price(s) Volume(s) Total
Sale £1.876 293,401 £550,420.28
Aggregated information N/A

-Aggregated volume
-Price

N/A
Date of the transaction 14 September 2018.
 
Place of the transaction AIMX
 

   

1 Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a) Name Stephen Oakley
2 Reason for the notification
a) Position/status Director
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Redde plc
b) LEI 21380063LFNLZM7AYT28
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
Transaction 1
a) Description of the financial instrument, type of instrument

Identification code
Options over ordinary shares.



GB00BLWFOR63
b) Nature of the transaction Exercise of options over ordinary shares.
 
c) Price(s) and volume(s)
Transaction Price(s) Volume(s) Total
Exercise £0.001 360,255 £360.26
d) Aggregated information N/A

-Aggregated volume
-Price

N/A
e) Date of the transaction 14 September 2018;
 
f) Place of the transaction Outside of trading venue.
 
Transaction 2
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
Description of the financial instrument, type of instrument


Identification code
Sale of ordinary shares.


GB00BLWFOR63
Nature of the transaction Ordinary shares.
 
Price(s) and volume(s)
Transaction Price(s) Volume(s) Total
Sale £1.876 197,245 £370,031.62
Aggregated information N/A

-Aggregated volume
-Price

N/A
Date of the transaction 14 September 2018;
 
Place of the transaction AIMX
 

   

Enquiries
Redde plc Tel: 01225 321134
Martin Ward – Chief Executive Officer
Stephen Oakley – Chief Financial Officer
Cenkos Securities plc (Nominated Adviser and Joint Broker) Tel: 0207 397 8900
Elizabeth Bowman
Harry Hargreaves
N+1 Singer Capital Markets Limited (Joint Broker) Tel: 0207 496 3000
Mark Taylor
Square1 Consulting Tel: 0207 929 5599
David Bick

Notes for Editors:

About Redde plc:

Founded in 1992 and working predominantly with insurance companies, insurance brokers, prestige motor dealerships, and large national fleet owners the Group provides a range of accident management, incident management and legal services.

The Group is one of the market leaders in its fields of business; it delivers accident management solutions to motorists ensuring that they remain mobile until their own vehicles are repaired or until they are put in a position to obtain a replacement and it provides legal services ensuring that they are properly compensated for their injuries and losses. Legal services also include wills and probate, family law, clinical negligence and employer and public liability law advice.

The name Redde is associated, in Latin, with the concept of restoration.


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