Business
Sale of Shares from SAR Scheme & PDMR dealing
Sale of Shares from SAR Scheme & PDMR dealing.
About this update from Gateley (holdings) Plc
[{"type":"text","content":"\n \nRNS Number : 8159D Gateley (Holdings) PLC 12 October 2018 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain. \n \n\n\n\n \n\n\n12 October 2018\n\n\n\n \nGateley (Holdings) Plc\n \n('Gateley' or the 'Company')\n \nAllocation and sale of Gateley shares from Stock Appreciation Rights Scheme and PDMR Dealings\n \nGateley (Holdings) Plc (AIM:GTLY), the law-led professional services group is pleased to announce the transfer of the remaining 124,111 ordinary shares of 10 pence each in the capital of the Company (\"Ordinary Shares\") from the Gateley Employee Benefit Trust (\"the EBT\") to partner level employees who have exercised their remaining rights pursuant to the Company's Stock Appreciation Rights (\"SAR\") Scheme. As announced by the Company on 17 July 2018, a total of 2,425,024 Ordinary Shares had previously been issued to the EBT to satisfy the vesting of share options under the SAR Scheme. Whilst the majority of option holders exercised their options earlier this year two partners delayed their exercise until now.\n \nOf the 124,111 Ordinary Shares transferred, an aggregate of 75,460 have been sold on behalf of these two remaining partners in order to reimburse them for their personal tax liabilities resulting from the exercise of their SAR Scheme awards. The 75,460 shares were purchased by the EBT.\n \nHighlights\n· The Group's incentivisation plan is now, 3 years post IPO, generating real, tangible rewards for \"partners\" lower down the equity ranks at the time of the IPO \n· 2,425,024 aggregate Ordinary Shares, represents 2.19% of the current issued share capital\n· Free float remains at 38.3%\n \nPDMR Dealings\nThe Company announces that it has received the following notification of sales of Ordinary Shares from Victoria Garrad, being a PDMR of Gateley. The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulat...