Volvere PLC Result of Buy-back, PDMR Dealing and TVR (5977T)
14 October 2017 - 12:35AM
UK Regulatory
TIDMVLE
RNS Number : 5977T
Volvere PLC
13 October 2017
Volvere plc
("Volvere" or the "Company")
Result of Buy-back, PDMR Dealing and Total Voting Rights
Volvere plc, the growth and turnaround investment company, is
pleased to announce that further to the announcement of 11 October
2017, the Buy-back was fully taken up. The Company has repurchased
into treasury 407,595 ordinary shares of 0.00001 pence in the
capital of the Company ("Ordinary Shares") at a purchase price of
835 pence per Ordinary Share, returning approximately GBP3.4
million to shareholders in accordance with the approval granted by
shareholders at the general meeting of the Company held on 19
November 2012.
Directors' Dealings and Related Party Transactions
As previously indicated, Jonathan Lander, CEO, and Nicholas
Lander, COO, participated in the Buy-back, selling in aggregate
157,195 Ordinary Shares at a price of 835 pence per Ordinary Share,
as detailed below:
Director Shareholding % of TVR Shares Shareholding % of TVR
prior to prior sold following following
Buy-back to Buy-back in Buy-back Buy-back Buy-Back
Jonathan
Lander 1,023,677 25.12% 102,367 921,310 25.12%
Nicholas
Lander 548,277 13.45% 54,828 493,449 13.45%
Total 1,571,954 38.57% 157,195 1,414,759 38.57%
In addition, Andrew Cohen, a substantial shareholder and
director of a subsidiary of the Company, also participated in the
Buy-back, selling 231,689 Ordinary Shares at a price of 835 pence
per Ordinary Share.
David Buchler, the sole independent director, considers, having
consulted with the Company's nominated adviser, N+1 Singer, that
the terms of the participation of each of Jonathan Lander, Nicholas
Lander and Andrew Cohen in the Buy-back are fair and reasonable
insofar as the Company's shareholders are concerned.
Total Voting Rights
Following completion of the Buy-back, the Company has 6,207,074
Ordinary Shares in issue and admitted to trading on AIM and will
hold 2,538,711 Ordinary Shares in treasury. The number of shares in
issue (excluding treasury shares), and the figure to be used as the
denominator for calculations of interests in the Company's voting
rights, is 3,668,363 Ordinary Shares.
Capitalised terms not otherwise defined in this announcement
shall have the meaning given to them in the announcement of 11
October 2017.
For further information, contact:
Volvere plc Tel: +44 20 7634
David Buchler, Non-executive 9707
Chairman
Jonathan Lander, CEO
Nick Lander, COO
N+1 Singer (Nominated Adviser Tel: + 44 20 7496
and Broker) 3000
Aubrey Powell
Liz Yong
James Hopton
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 Jonathan Lander
--- ------------------------- -------------------------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------------------
a) Position/status CEO
--- ------------------------- -------------------------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------------------------
a) Name Volvere plc
--- ------------------------- -------------------------------------------------
b) LEI 213800GWXPMU8DUJ9G34
--- ------------------------- -------------------------------------------------
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 Ordinary shares of 0.00001
the financial pence each
instrument, type
of instrument
---
Identification GB0032302688
code
b) Nature of the Sale of Ordinary Shares via
transaction Buy-back
--- ------------------------- -------------------------------------------------
c) Price(s) and volume(s)
--- --------------------- ------------------
Price(s) Volume(s)
--- --------------------- ------------------
(i) 835 pence (i) 18,367
(ii) 835 pence (ii) 84,000
--------------------- ------------------
d) Aggregated information
---
- Aggregated volume 102,367 Ordinary Shares
- Price 835 pence
e) Date of the transaction 13 October 2017
--- ------------------------- -------------------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
--- ------------------------- -------------------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
---- ------------------------------------------------------------------
a) Name Nicholas Lander
---- ----------------------------- -----------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------
a) Position/status COO
---- ----------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
---- ----------------------------- -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- ------------------------------------------------------------------
a) Name Volvere plc
---- ----------------------------- -----------------------------------
b) LEI 213800GWXPMU8DUJ9G34
---- ----------------------------- -----------------------------------
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 Ordinary shares of 0.00001
the financial pence each
instrument, type
of instrument
----
Identification GB0032302688
code
b) Nature of the Sale of Ordinary Shares via
transaction Buy-back
---- ----------------------------- -----------------------------------
c) Price(s) and volume(s)
---- ---------------- --------------
Price(s) Volume(s)
---- ---------------- --------------
835 pence 54,828
--------------------------------------------------- --------------
d) Aggregated information
----
- Aggregated volume N/A
- Price
e) Date of the transaction 13 October 2017
---- ----------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange (XLON)
---- ----------------------------- -----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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