TIDMFNTL
RNS Number : 0179S
Fintel PLC
11 November 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR. Upon the
publication of this announcement via the Regulatory Information
Service, this inside information is now considered to be in the
public domain.
Fintel plc
(the "Company" or "Fintel")
Issue of shares and PDMR Dealing
Fintel plc, the leading independent provider of fintech and
support services to the UK's retail financial services sector,
announces the Company has today issued 5,232,335 new ordinary
shares of 1 pence each ("Ordinary Shares") in the Company (the "MIP
Shares") following the conversion of Ordinary Shares of SimplyBiz
Limited (the "A Shares") as prescribed under the Management
Incentive Plan (the "MIP"). The A Shares were subscribed for on IPO
and vested and became exercisable from 4 April 2021 in accordance
with the rules of the MIP.
The A Shares were converted via service of a Put Notice by Neil
Stevens (Joint Chief Executive Officer), Matt Timmins (Joint Chief
Executive Officer), Gary Kershaw (Group Compliance Director) and
one former employee as a good leaver, Sarah Turvey (former Chief
Operating Officer) (together the "MIP Participants"). Details in
relation to the MIP Shares issued to the Directors / PDMRs are
contained in the table below.
Both Neil Stevens and Matt Timmins have informed the Company
that they do not intend to dispose of any of their shares for a
period of at least twelve months.
Following the exercise by the MIP Participants, the below
directors have increased their aggregate holdings from 3.55% to
7.21% of the issued share capital of the Company*. The table below
details their interests in the share capital of the Company:
D irector P osition Ordinary % of Number Number Resulting % of
Shares total of MIP of Ordinary total number enlarged
held previously issued Shares Shares of Ordinary issued
share issued sold Shares share
capital held capital*
Joint Chief
Executive
Neil Stevens Officer 1,713,447 1.76% 1,970,213 Nil 3,683,660 3.59%
------------- ----------------- --------- ---------- ------------- -------------- ----------
Joint Chief
Executive
Matt Timmins Officer 1,745,000 1.79% 1,970,213 Nil 3,715,213 3.62%
------------- ----------------- --------- ---------- ------------- -------------- ----------
TOTAL 3,458,447 3.55% 3,950,426 Nil 7,398,873 7.21%
----------------- --------- ---------- ------------- -------------- ----------
*includes shares issued under the SAYE and CSOP schemes as set
out below
Following the above, there are no unconverted A Shares remaining
under the MIP.
Other share scheme allotments (SAYE and CSOP)
Fintel plc also announces that it has issued 67,145 ordinary
shares of GBP0.01 each to satisfy certain share entitlements of
certain former employees who have elected to exercise their options
pursuant to the Company Share Option Plan ("CSOP") and the
Company's Save As You Earn ("SAYE") employee share scheme.
Admission and Total Voting Rights
Application has been made for the 5,299,480 new Ordinary Shares
to be admitted to trading on AIM ("Admission"). It is expected that
Admission and dealings in those shares will commence at 8.00 a.m.
on 16 November 2021.
The Company advises that, immediately following Admission, there
will be 102,661,458 Ordinary Shares in issue, with one voting right
each. The Company does not hold any shares in treasury. The number
of Ordinary Shares with voting rights will therefore be
102,661,458. Accordingly, this number should 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 Guidance and Transparency Rules.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018, provides
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 Neil Stevens
================================ ==========================================
2 Reason for the notification
============================================================================
a) Position/status Joint Chief Executive Officer (PDMR)
================================ ==========================================
b) Initial notification/Amendment Initial notification
================================ ==========================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
============================================================================
a) Name Fintel plc
================================ ==========================================
b) LEI 213800DXP1VY21GCTH04
================================ ==========================================
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 Ordinary shares of 1 pence each
instrument, type of instrument
ISIN: GB00BG1THS43
Identification Code
================================ ==========================================
b) Nature of the transaction C onversion of A Shares in Simply
Biz Limited to Ordinary Shares in
Fintel plc (MIP)
================================ ==========================================
c) Price(s) and volume(s) Price No. of shares
1. Nil 1,970,213
------ --------------
================================ ==========================================
d) Aggregated information Price: N il
No of shares: 1,970,213
================================ ==========================================
e) Date of transaction 10 November 2021
================================ ==========================================
f) Place of transaction London Stock Exchange, AIM
================================ ==========================================
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name M att Timmins
================================ ==========================================
2 Reason for the notification
============================================================================
a) Position/status Joint Chief Executive Officer (PDMR)
================================ ==========================================
b) Initial notification/Amendment Initial notification
================================ ==========================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
============================================================================
a) Name Fintel plc
================================ ==========================================
b) LEI 213800DXP1VY21GCTH04
================================ ==========================================
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 Ordinary shares of 1 pence each
instrument, type of instrument
ISIN: GB00BG1THS43
Identification Code
================================ ==========================================
b) Nature of the transaction C onversion of A Shares in Simply
Biz Limited to Ordinary Shares in
Fintel plc (MIP)
================================ ==========================================
c) Price(s) and volume(s) Price No. of shares
1. Nil 1,970,213
------ --------------
================================ ==========================================
d) Aggregated information Price: Nil pence
No of shares: 1,970,213
================================ ==========================================
e) Date of transaction 10 November 2021
================================ ==========================================
f) Place of transaction London Stock Exchange, AIM
================================ ==========================================
For further information please contact:
Fintel via Instinctif Partners
Matt Timmins (Joint Chief Executive
Officer)
Neil Stevens (Joint Chief Executive
Officer)
Zeus Capital (Nominated Adviser
and Joint Broker) +44 (0) 20 3829 5000
Martin Green
Dan Bate
Pippa Hamnett
Investec Bank (Joint Broker) +44 (0) 20 7597 5095
Bruce Garrow
David Anderson
Harry Hargreaves
Instinctif Partners (Financial +44 78 3767 4600 / fintel@instinctif.com
PR)
George Peele
Mark Walter
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END
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