Business
PDMR Shareholding, Issue of Equity and TVR
PDMR Shareholding, Issue of Equity and TVR.
About this update from Finseta Plc
[{"type":"text","content":"\n \n \n 6 February 2023\n \n \n \n \n \n \n Cornerstone FS Plc\n \n \n \n \n (\"Cornerstone\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n \n \n \n \n PDMR Shareholding, Issue of Equity and Total Voting Rights\n \n \n \n \n \n \n \n \n Further to the Company's announcement of 5 August 2022, Cornerstone FS Plc (AIM: CSFS), the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces the issue and allotment of\n ordinary shares of 1 penny each in the capital of the Company (\"Ordinary Shares\") to a PDMR and a significant shareholder of the Company. This follows the receipt of permission from the Financial Conduct Authority (\"FCA\") for them each to increase their respective shareholdings beyond 9.9% of the issued share capital of the Company. \n \n \n \n \n \n The Company has issued and allotted a total of\n 8,574,720\n Ordinary Shares (\"New Ordinary Shares\") as follows:\n \n \n \n \n \n ·\n Rob O'Brien, the Group's Chief Commercial Officer and a PDMR of the Company, was issued and allotted\n 5,113,182\n New Ordinary Shares at a price of 10 pence per New Ordinary Share being the final balance of shares issuable pursuant to the variation of his share incentive arrangement announced on 4 August 2022.\n \n \n ·\n Mark Horrocks, a significant shareholder of the Company, was issued and allotted 3,461,538 New Ordinary Shares at a price of 6.5 pence per New Ordinary Share for the conversion of a loan note issued to him as part of the Company's fundraising announced on 5 August 2022.\n \n \n \n \n \n PDMR Shareholding\n \n \n \n \n \n Following the above, Mr. O'Brien has an interest in a total of 9,400,000 Ordinary Shares, representing 16.4% of the Company's enlarged issued share capital.\n \n \n \n \n \n Admission and Total Voting Rights\n \n \n \n \n \n Application will be made for the New Ordinary Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will take place on or around 13 February 2023.\n The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.\n \n \n \n \n \n Following Admission, the Company's issued share capital will comprise 57,417,101 Ordinary Shares, with no shares held in treasury, and therefore t...