AIM: KBT
15 January 2024
K3 Business Technology Group plc
("K3", "Company" or "Group")
PDMR Announcement
K3, which provides business‐critical software solutions focused on fashion and apparel brands, has received notification from Kestrel Partners LLP ("Kestrel") that on 12 January 2024 it acquired, on behalf of its discretionary clients, 38,000 ordinary shares of 25p each ("Shares") in the Company at an average price of £1.0916 per Share.
Mr Scott, a non-executive director of K3, is a partner of, and holds a beneficial interest in Kestrel. Mr Scott is also a shareholder in one of Kestrel's clients ("Kestrel Opportunities") and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in the Company.
Following these transactions, Kestrel Opportunities holds (and consequently Mr Scott is deemed to have a beneficial interest in) 8,566,468 Shares in the Company, and other clients of Kestrel, in which Mr Scott has no beneficial interest, hold 4,172,134 Shares in the Company.
On a combined basis, Kestrel indirectly holds voting rights over 12,738,602 Shares in the Company, which represents 28.48% per cent of the Company's issued share capital.
Kestrel's interest in the Shares in the Company is held through the following nominees:
| Holding type | Nominee | No. of shares | % of issued share capital | |
| Indirect | Bank of New York Nominees Ltd | 8,566,468 | 19.15% | |
| Indirect | JIM Nominees Limited | 316,376 | 0.71% | |
| Indirect Indirect | Bank of New York Nominees Ltd Northern Trust Company AVFC | 2,672,003 1,183,755 | 5.97% 2.65% | |
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Further details in respect of the purchase are provided below, in accordance with the EU Market Abuse Regulation (No 596/2014).
For further information contact:
| K3 Business Technology Group plc | +44 (0) 161 876 4498 | |
| Marco Vergani, CEO | | |
| Eric Dodd, CFO | | |
| | | |
| Cavendish Securities plc | +44 (0) 207 220 0500 | |
| Nominated Adviser and Broker | |
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| Julian Blunt/Dan Hodkinson (Corporate Finance) | |
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| Sunila de Silva/Harriet Ward (Corporate Broking) | |
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| KTZ Communications | +44 (0) 20 3178 6378 |
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| Katie Tzouliadis/Dan Mahoney | |
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ANNEX
Template for 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 | Kestrel Partners LLP ('Kestrel') | ||||||
| 2 | Reason for the notification | |||||||
| a)
| Position/status
| PCA - Oliver Rupert Andrew Scott (non-executive director of K3 Business Technology Group plc and Partner in Kestrel) | ||||||
| b)
| Initial notification /Amendment | Initial | ||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | K3 Business Technology Group plc | ||||||
| b) | LEI | 213800QOJ9OF2AV81748 | ||||||
| 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 | 25p Ordinary Shares
ISIN: GB00B00P6061 | ||||||
| b) | Nature of the transaction | Purchase | ||||||
| c)
| Price(s) and volume(s)
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| d)
| Aggregated information
- Aggregated volume
- Price | Total purchase of 38,000 at an average of £1.0916 per Share
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| e)
| Date of the transaction | 12 January 2024 | ||||||
| f)
| Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||
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