Business
PDMR Dealing, EBT Disposal and Admission of Shares
PDMR Dealing, EBT Disposal and Admission of Shares.
About this update from Ten Lifestyle Group Plc
[{"type":"text","content":"\n\n5 July 2023\nTen Lifestyle Group plc\n(the \"Company\" or \"Ten\")\n \nPDMR Dealing, EBT Disposal and Admission of New Shares\n \nTen Lifestyle Group plc (AIM: TENG), a leading technology-enabled global concierge platform for the world's wealthy and mass affluent, announces that it received notice that on 4 July 2023 Andrew Long, Group COO, sold 900,000 ordinary shares of 0.1 pence each in the Company (\"Ordinary Shares\") at a price of 95p per Ordinary Share. On the same day, 400,000 options held by the Ten Employee Benefit Trust were exercised, with the resulting shares sold on the same day at a price of 95p per share. \n \nFollowing the sale, Mr. Long has a total interest in the Company of 3,100,000 Ordinary Shares, representing 3.67% of the total voting rights of the Company. The purpose of the sale was to fund a previously agreed payment plan for a new build property purchase.\n \nThe Ten Group Employee Benefit Trust, established on 22 February 2012 (the \"EBT\"), was granted an option for NWH (Guernsey) Limited to subscribe for 400,000 Ordinary Shares with an exercise price of 70p on 27 March 2020 as part of the Company's COVID-19 cost saving initiatives. The EBT is primarily intended to reward employees, not management, who have shown commitment to the Company and the cash generated by this exercise and sale will be used to fund employee loyalty programmes aimed at improving employee retention.\n \nFollowing this transaction, the EBT holds a total of 42,186 Ordinary Shares, representing 0.05% of the Company's total voting rights.\n \nPursuant to the exercise of options described above, the Company has issued 400,000 new Ordinary Shares. Applications have been made for the 400,000 new Ordinary Shares to be admitted to trading on AIM (\"Admission\"). It is expected that Admission will occur at 8.00 a.m. on or around 11 July 2023.\n \nThe total number of Ordinary Shares in issue following Admission will be 84,387,671. This figure may be used by shareholders 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 and Transparency Rules.\n \nThe notification below, made in accordance with the Market Abuse Regulation, provides further detail...