Belvoir Lettings (LON:BLV)

Belvoir Lettings (LON:BLV)


Share Price
114.50 p
Change
0 (0.00 %)
Market Cap
£40.00 m
Proactive Investors - Run By Investors For Investors

Belvoir Lettings RNS Release

Director/PDMR Dealing


RNS Number : 5386J
Belvoir Lettings PLC
05 December 2018
 


5 December 2018

                                                                                                                                               

 

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

BELVOIR LETTINGS PLC

(the "Company", "the Group" or "Belvoir") 

Director/ PDMR Dealing

Belvoir Lettings plc (AIM: BLV), has been notified that on 4 December 2018, Mike Goddard, Chairman of the Company, sold 1,065,431 ordinary shares of 1p each in the Company ("Ordinary Shares") to the vendors of Northwood at 92.9p each.

The acquisition of Northwood in June 2016 was subject to a two year earn out.  During the two years under review, EBITDA performance increased by 51% from £1,069,000 to £1,616,000 against which a final consideration payment of £3,959,000 was due.  Settlement of the final payment in either cash or shares was at the discretion of the Board.  Feedback from institutional investors clearly supported 100% cash settlement, if possible.  Accordingly, Mike Goddard has made available 1,065,431 shares, enabling the Northwood vendors to take 25% of their collective final cash consideration in shares thereby, retaining a stake in the business that they had so successfully built over the past 23 years.

As a result, the following transfer of shares from Mike Goddard took place:

Transferee

No. of shares

Previous holding

Subsequent holding

Percentage

holding

Andrew David Goodson

733,869

555,339

1,289,208

3.69%

Gemma Goodson

244,623

185,113

429,736

1.23%

William Eric Walker

32,602

21,713

54,315

0.16%

Philip Allan Gee

21,735

16,447

38,182

0.11%

Victoria Alexander

21,735

16,447

38,182

0.11%

Nicholas Mark Harris

10,867

8,224

19,091

0.05%

 

Both William Eric Walker and Phillip Allan Gee continue to be employed by the Belvoir Group as Group Managing Director and Northwood Managing Director respectively and are regarded as PDMRs.

Following this transaction Mike Goddard holds 4,506,490 Ordinary Shares, representing approximately 12.9% of total issued share capital and voting rights of the company.

Furthermore, the option period for options held by Dorian Gonsalves under the Belvoir Lettings PLC Unapproved Share Option Plan over 163,399 shares due to expire on 31st December 2018 has been extended to 31st December 2020.

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Mike Goddard

2

Reason for notification

  

a.

Position/Status

Chairman

b.

Initial notification/

Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Belvoir Lettings PLC

b.

LEI

N/A

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 instrument, type of instrument

Identification Code

 

 

 

 

ISIN: GB00B4QY1P51

b.

Nature of the transaction

Sale of Ordinary Shares

c.

Price(s) and volume(s)







Price(s)

Volume(s)


92.9p

1,065,431



d.

Aggregated information

- Aggregated Volume

- Price

 

 

1,065,431

92.9p

e.

Date of the transaction

4 December 2018

f.

Place of the transaction

Off-market

 

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

William Eric Walker

2

Reason for notification

  

a.

Position/Status

Group Managing Director (PDMR)

b.

Initial notification/

Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Belvoir Lettings PLC

b.

LEI

N/A

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 instrument, type of instrument

Identification Code

 

 

 

 

ISIN: GB00B4QY1P51

b.

Nature of the transaction

Purchase of Ordinary Shares

c.

Price(s) and volume(s)







Price(s)

Volume(s)


92.9p

32,602



d.

Aggregated information

- Aggregated Volume

- Price

 

 

32,602

 

92.9p

e.

Date of the transaction

4 December 2018

f.

Place of the transaction

Off-market

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Phillip Allan Gee

2

Reason for notification

  

a.

Position/Status

Northwood Managing Director (PDMR)

b.

Initial notification/

Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Belvoir Lettings PLC

b.

LEI

N/A

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 instrument, type of instrument

Identification Code

 

 

 

 

ISIN: GB00B4QY1P51

b.

Nature of the transaction

Purchase of Ordinary Shares

c.

Price(s) and volume(s)







Price(s)

Volume(s)


92.9p

21,735



d.

Aggregated information

- Aggregated Volume

- Price

 

 

21,735

92.9p

e.

Date of the transaction

4 December 2018

f.

Place of the transaction

Off-market

 

 

For further details:

Belvoir Lettings PLC

Mike Goddard, Chairman

Dorian Gonsalves, Chief Executive Officer

Louise George, Chief Financial Officer

01476 584900

[email protected]

 

Cantor Fitzgerald Europe

Rick Thompson, Philip Davies, Will Goode

Corporate Finance

Caspar Shand-Kydd, Gregor Paterson

Sales

 

0207 894 7000



 

Buchanan

Charles Ryland, Madeleine Seacombe, Tilly Abraham

 

 

0207 466 5000

[email protected]

 

Note to Editors:

 

About Belvoir Lettings PLC

 

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with 364 offices across four brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages over 61,000 properties and reported revenue of £11.3m in 2017 making Belvoir the largest property franchise group in the UK.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DSHUVAARWWAURAA

Belvoir Lettings Timeline

Video
April 02 2019

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use