Fletcher King plc
("Fletcher King" or "the Company")
Completion of Placing of New Ordinary Shares, Director Dealing and Director Appointments
Further to the announcement of 4 October 2021 regarding the Conditional Placing and Conditional Director Dealing and the announcement of 28 February 2022 regarding the receipt of FCA controller approval for Elliott Bernerd and CM Strategic 613 Limited, the board of directors of the Company is pleased to confirm that the placing of a total of 1,042,430 new ordinary shares of 10 pence each (the "Placing Shares") at a price of 52.5 pence per share to raise £547,276 before expenses (the "Placing") to CM Strategic 613 Limited has completed.
The Company's three largest shareholders have also today completed the sale of part of their existing shareholdings in Fletcher King at a sale price of 52.5 pence per share, to CM Strategic 613 Limited which allows Elliott Bernerd to increase his indirect ownership in the Company to approximately 29.99 per cent. of the enlarged share capital of Fletcher King.
In addition, as set out in the announcement of 4 October 2021, the Company has appointed, at the request of Elliott Bernerd, David Gibbs and Matthew Wise as non-executive directors.
Elliott Bernerd commented: "I have known and respected David Fletcher for a long time and am now delighted to support David and his management team in their future activities. I am also very pleased that my two colleagues, David Gibbs and Matthew Wise, are joining the Board of Fletcher King plc to ensure a close working relationship."
Disclosures in accordance with the AIM Rules
Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, the following information is disclosed in respect of David Arthur Edmund Gibbs (aged 52) and Matthew Ian Wise (aged 59):
David Gibbs
| Current Appointments | Former appointments in the last 5 years |
| Chelsfield Capital LLP | Helix Securities LLP |
| Chelsfield Retech Investments Limited | Keakie Ltd |
| Children With Cancer UK | Sunrise Brokers LLP |
| Children With Cancer Research Limited | The Invicta Film Partnership No.10, LLP |
| Helping Children With Cancer Limited | Envy Post Production Limited |
| Echo Velvet Limited | |
David Gibbs does not hold any shares or options in the Company.
Matthew Wise
| Current Appointments | Former appointments in the last 5 years |
| Penniwells Riding Centre for The Disabled | None |
| Samillie Residential Limited | |
Matthew Wise does not hold any shares or options in the Company.
There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange to admit the Placing Shares to trading on AIM. Admission of the new ordinary shares is expected to occur on or around 7 March 2022 ("Admission"). The new ordinary shares will rank pari passu with the existing ordinary shares.
For the purpose of the Disclosure Guidance and Transparency Rules, following Admission the enlarged issued share capital of the Company will comprise 10,252,209 ordinary shares of 10 pence each. The Company does not hold any shares in treasury. The above 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 Disclosure Guidance and Transparency Rules.
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. The Directors of the Company are responsible for the release of this announcement.
Enquiries
Fletcher King plc
David Fletcher / Peter Bailey
Tel: 0207 493 8400
Cairn Financial Advisers LLP
James Caithie / Liam Murray
Tel: 020 7213 0880
| Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||||
| Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
| Name | David Fletcher | |||||||||
| Reason for notification | | |||||||||
| Position/Status | Director | |||||||||
| Initial notification/ Amendment | Initial notification | |||||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| Name | Fletcher King plc | |||||||||
| LEI |
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| 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 | ||||||||||
| Description of the financial instrument, type of instrument | Ordinary shares of 10p each GB0003425310 | |||||||||
| Nature of the transaction | Sale of ordinary shares | |||||||||
| Price(s) and volume(s) | | | | | | |||||
| | Price(s) | Volume(s) | | |||||||
| | 52.5p | 672,180 | | |||||||
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| Aggregated information - Aggregated Volume - Price |
N/A N/A | |||||||||
| Date of the transaction | 4 March 2022 | |||||||||
| Place of the transaction | Outside a trading venue
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