19 March 2024
Cavendish Financial plc
(the "Cavendish", the "Company", the Group)
Directors Dealings and Total Voting Rights
Cavendish Financial plc (AIM:CAV) is pleased to announce that the invitation period for the Company's Share Incentive Plan (the "SIP") closed to eligible employees on 6 March 2024 and 183 employees have chosen to participate.
The SIP is administered by Equiniti Share Plan Trustees Limited (as trustee of the SIP), a UK incorporated company, who is the registered holder of the Shares.
Accordingly, on 19 March, Cavendish issued 10,083,483 new ordinary shares of 1 pence each (the "Shares") to Equiniti Share Plan Trustees Limited, in its capacity as Trustee of the SIP. 3,361,161 Shares were issued under the Partnership Shares element of the SIP at a price of £0.098 per Share and 6,722,322 Shares were issued under the Matching Shares element of the SIP at a price of £0.01 per Share.
The Company will make an application for admission of these newly issued and allotted shares to trading on AIM. Admission is expected to take place at 8.00 a.m. on 25 March 2024.
Total Voting Rights
In compliance with the FCA's Disclosure Guidance and Transparency Rules, the Company announces that, as at today's date, it has 384,693,548 ordinary shares of 1 pence each in issue. The Company does not hold any shares in treasury and all of the ordinary shares have equal voting rights.
The figure of 384,693,548 ordinary shares represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Rules.
Directors and PDMRs Dealings
In connection with their participation in the SIP, Cavendish also announces today the following acquisitions/allocations of Shares by/to its directors and PDMRs which took place on 19 March 2024:
| Director /PDMR | No. of Partnership Shares | No. of Marching Shares | Resulting Shareholding | Shareholding % of ISC |
| Julian Morse, Co-CEO | 18,367 | 36,734 | 5,948,372 | 1.55% |
| John Farrugia, Co-CEO | 18,367 | 36,734 | 2,187,898 | 0.57% |
| Ben Procter - CFO | 18,367 | 36,734 | 857,921 | 0.22% |
| Richard Snow - COO | 18,367 | 36,734 | 588,926 | 0.15% |
Further details of the subscriptions are included in the notifications below, made in accordance with the requirements of the UK Market Abuse Regulation.
For further information, please contact:
CONTACTS
Cavendish (Management) Tel: +44 (0) 20 7220 0500
Julian Morse, Co-Chief Executive Officer investor.relations@cavendish.com
John Farrugia, Co-Chief Executive Officer
Ben Procter, Chief Financial Officer
Grant Thornton (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/Ciara Donnelly
| 1 | Details of the persons discharging managerial responsibility | |||||||||||||
| a) | Name | Julian Morse | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | Co-CEO | ||||||||||||
| b) | Initial notification/amendment | Initial | ||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Full name of the entity | Cavendish Financial plc | ||||||||||||
| b) | Legal Entity Identifier Code | 213800DLRUJW6JVNS533 | ||||||||||||
| 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 | Ordinary Shares of £0.01 nominal value each | ||||||||||||
| b) | Identification Code | GB00BGKPX309 | ||||||||||||
| c) | Nature of the transaction | Purchase of Partnership Shares and allocation of Matching Shares under the SIP. | ||||||||||||
| d) | Currency | GBP - British Pound | ||||||||||||
| e) | Price(s) and Volume(s) | Partnership Shares
Matching Shares
| ||||||||||||
| f) | Aggregated Information - Price - Volume - Total Price | Partnership Shares
Matching Shares
| ||||||||||||
| g) | Date of transaction | 19 March 2024 | ||||||||||||
| h) | Place of transaction | Outside a trading venue | ||||||||||||
| 1 | Details of the persons discharging managerial responsibility | |||||||||||||
| a) | Name | John Farrugia | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | Co-CEO | ||||||||||||
| b) | Initial notification/amendment | Initial | ||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Full name of the entity | Cavendish Financial plc | ||||||||||||
| b) | Legal Entity Identifier Code | 213800DLRUJW6JVNS533 | ||||||||||||
| 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 | Ordinary Shares of £0.01 nominal value each | ||||||||||||
| b) | Identification Code | GB00BGKPX309 | ||||||||||||
| c) | Nature of the transaction | Purchase of Partnership Shares and allocation of Matching Shares under the SIP. | ||||||||||||
| d) | Currency | GBP - British Pound | ||||||||||||
| e) | Price(s) and Volume(s) | Partnership Shares
Matching Shares
| ||||||||||||
| f) | Aggregated Information - Price - Volume - Total Price | Partnership Shares
Matching Shares
| ||||||||||||
| g) | Date of transaction | 19 March 2024 | ||||||||||||
| h) | Place of transaction | Outside a trading venue | ||||||||||||
| 1 | Details of the persons discharging managerial responsibility | |||||||||||||
| a) | Name | Ben Procter | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | CFO | ||||||||||||
| b) | Initial notification/amendment | Initial | ||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Full name of the entity | Cavendish Financial plc | ||||||||||||
| b) | Legal Entity Identifier Code | 213800DLRUJW6JVNS533 | ||||||||||||
| 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 | Ordinary Shares of £0.01 nominal value each | ||||||||||||
| b) | Identification Code | GB00BGKPX309 | ||||||||||||
| c) | Nature of the transaction | Purchase of Partnership Shares and allocation of Matching Shares under the SIP. | ||||||||||||
| d) | Currency | GBP - British Pound | ||||||||||||
| e) | Price(s) and Volume(s) | Partnership Shares
Matching Shares
| ||||||||||||
| f) | Aggregated Information - Price - Volume - Total Price | Partnership Shares
Matching Shares
| ||||||||||||
| g) | Date of transaction | 19 March 2024 | ||||||||||||
| h) | Place of transaction | Outside a trading venue | ||||||||||||
| 1 | Details of the persons discharging managerial responsibility | |||||||||||||
| a) | Name | Richard Snow | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | Co-CEO | ||||||||||||
| b) | Initial notification/amendment | Initial | ||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Full name of the entity | Cavendish Financial plc | ||||||||||||
| b) | Legal Entity Identifier Code | 213800DLRUJW6JVNS533 | ||||||||||||
| 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 | Ordinary Shares of £0.01 nominal value each | ||||||||||||
| b) | Identification Code | GB00BGKPX309 | ||||||||||||
| c) | Nature of the transaction | Purchase of Partnership Shares and allocation of Matching Shares under the SIP. | ||||||||||||
| d) | Currency | GBP - British Pound | ||||||||||||
| e) | Price(s) and Volume(s) | Partnership Shares
Matching Shares
| ||||||||||||
| f) | Aggregated Information - Price - Volume - Total Price | Partnership Shares
Matching Shares
| ||||||||||||
| g) | Date of transaction | 19 March 2024 | ||||||||||||
| h) | Place of transaction | Outside a trading venue | ||||||||||||
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