WEY EDUC 30 May 2018
WEY EDUCATION PLC
('Wey Education or the 'Company')
Exercise of Warrants including by Executive Chairman
Total Voting Rights
PDMR Disclosures
Exercise of Warrants
As disclosed in the Admission Document dated 7 December 2015, IAF Capital Limited, ('IAFC'), a company which is beneficially owned by David Massie the Executive Chairman of the Company, holds a warrant granted on 18 March 2011 and extended on 26 March 2015 over 2.5% of the fully diluted share capital of the Company. IAFC notified the Company that it held 0.5% of the 2.5% on trust for a former executive, Mr Gary Pinkerton, who no longer works with IAFC. Accordingly IAFC has sought and received permission from the Company to transfer the interest in the 0.5% directly to Mr Pinkerton.
The Company has subsequently received notification from Mr Pinkerton to exercise his respective warrant in full over 702,271 ordinary shares in the share capital of the Company at a price of £0.05. The exercise by Mr Pinkerton amounts to a cash value of £35,113.55.
The Company has also received notification from IAFC to exercise its warrant in full over 2,809,085 ordinary shares in the share capital of the Company at a price of £0.05. The exercise by IAFC amounts in aggregate to a cash value of £140,454.25.
Application will be made for the 3,511,356 new ordinary shares to be admitted to trading on AIM, which is expected to take place on 5 June 2018. The new ordinary shares will rank pari pasuwith the existing ordinary shares in issue.
Following admission of the new ordinary shares including the new shares to be issued to IAFC, Mr Massie will be interested in 23,417,515 ordinary shares in the Company, representing approximately 18.0 per cent. of the Company's issued share capital.
Total Voting Rights
In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission its issued share capital will consist of 130,207,120 Ordinary Shares of 1p each. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company is 130,207,120.
Shareholders may use the above figure 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 Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Wey Education Plc | ||
David Massie (Chairman) | Tel: +44 (0) 207 518 9700 | |
+44 (0) 778 595 7958 | ||
WH Ireland Limited | ||
Mike Coe/Ed Allsopp (Corporate Finance) | Tel: +44 (0) 117 945 3470 | |
The below notification made 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 Massie - IAFC | ||||
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 | Wey Education plc | ||||
b) | LEI | 2138009M9659SXKA3I32 | ||||
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 | Warrant over Ordinary shares of 1p each n/a | ||||
b) | Nature of the transaction | Transfer to Gary Pinkerton | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | 702,271 n/a | ||||
e) | Date of the transaction | 30 May 2018 | ||||
f) | Place of the transaction | London | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | David Massie - IAFC | ||||
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 | Wey Education plc | ||||
b) | LEI | 2138009M9659SXKA3I32 | ||||
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 | Warrant over Ordinary shares of 1p each n/a | ||||
b) | Nature of the transaction | Issue of ordinary shares pursuant to exercise of warrants | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | 2,809,085 £140,454.25 | ||||
e) | Date of the transaction | 30 May 2018 | ||||
f) | Place of the transaction | London | ||||
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Disclaimer
Wey Education plc published this content on 30 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 May 2018 09:37:06 UTC
