Redde Northgate PLC

Major Shareholding Notification • Feb 25, 2020

National Storage Mechanism | Additional information

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RNS Number : 9729D

Northgate PLC

25 February 2020

25 February 2020

REDDE NORTHGATE PLC

Confirmation of Interests in Redde Northgate plc Shares

Director/PDMR Shareholdings

Under the terms  of the recommended all-share merger of Redde plc ("Redde") and Northgate plc (renamed Redde Northgate plc on completion of the merger, "Redde Northgate"), holders of ordinary shares in Redde at 6.00 p.m. on 20 February 2020 were entitled to receive 0.3669 new ordinary shares in Redde Northgate for each share they held in Redde. 

Redde Northgate has been advised that as a result of completion of the merger, and in accordance with the requirements of the EU Market Abuse Regulation, on 24 February 2020 the following Directors and PDMRs, who (save for Mark Butcher who was a member of the Redde Northgate board before completion of the merger) were appointed to the Redde Northgate board on completion of the merger, held the following interests in Redde Northgate:

Director	Shareholding
Martin Ward	1,532,442
Stephen Oakley	789,996
Mark Butcher	14,676
Mark McCafferty	11,007

Details of the full notification by the company are set out below:

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Martin Ward

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Redde Northgate plc

b)

LEI

213800B3ZUTDOZYVJB41

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 50 pence each in Redde Northgate plc

b)

Identification code

GB00B41H7391

c)

Nature of the transaction

Receipt of shares under the terms of the scheme of arrangement to implement the merger of Redde plc and Redde Northgate plc at the rate of 0.3669 shares in Redde Northgate plc for each Redde plc share held

d)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	1,532,442

e)

Aggregated information

- Aggregated volume

- Price

Not applicable

f)

Date of the transaction

24 February 2020

g)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stephen Oakley

2

Reason for the notification

a)

Position/status

Non-executive director

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Redde Northgate plc

b)

LEI

213800B3ZUTDOZYVJB41

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 50 pence each in Redde Northgate plc

b)

Identification code

GB00B41H7391

c)

Nature of the transaction

Receipt of shares under the terms of the scheme of arrangement to implement the merger of Redde plc and Redde Northgate plc at the rate of 0.3669 shares in Redde Northgate plc for each Redde plc share held

d)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	789,996

e)

Aggregated information

- Aggregated volume

- Price

Not applicable

f)

Date of the transaction

24 February 2020

g)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Butcher

2

Reason for the notification

a)

Position/status

Non-executive director

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Redde Northgate plc

b)

LEI

213800B3ZUTDOZYVJB41

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 50 pence each in Redde Northgate plc

b)

Identification code

GB00B41H7391

c)

Nature of the transaction

Receipt of shares under the terms of the scheme of arrangement to implement the merger of Redde plc and Redde Northgate plc at the rate of 0.3669 shares in Redde Northgate plc for each Redde plc share held

d)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	14,676

e)

Aggregated information

- Aggregated volume

- Price

Not applicable

f)

Date of the transaction

24 February 2020

g)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark McCafferty

2

Reason for the notification

a)

Position/status

Non-executive director

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Redde Northgate plc

b)

LEI

213800B3ZUTDOZYVJB41

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 50 pence each in Redde Northgate plc

b)

Identification code

GB00B41H7391

c)

Nature of the transaction

Receipt of shares under the terms of the scheme of arrangement to implement the merger of Redde plc and Redde Northgate plc at the rate of 0.3669 shares in Redde Northgate plc for each Redde plc share held

d)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	11,007

e)

Aggregated information

- Aggregated volume

- Price

Not applicable

f)

Date of the transaction

24 February 2020

g)

Place of the transaction

London Stock Exchange

Contact details 

For further information please contact:

Buchanan                                                                                           

David Rydell/Jamie Hooper/Tilly Abraham                          +44 (0) 207 466 5000

Notes to Editors:

Redde Northgate plc is a leading integrated mobility solutions platform formed in February 2020 following the all-share merger of light commercial hire business Northgate plc and Redde plc, the provider of incident and accident management, legal and other mobility-related services.

The Group provides mobility solutions and automotive services to a wide range of businesses and customers spanning the vehicle life cycle across vehicle supply, service, maintenance, repair, recovery, accident and incident management and disposal through sale or salvage.

With an extensive network and diversified fleet of over 110,000 owned vehicles and over 400,000 managed vehicles in more than 100 branches across the UK, Ireland and Spain, the Group aims to utilise its scale, reach and comprehensive suite of integrated services to offer a market-leading customer proposition and drive enhanced returns for shareholders.

Further information regarding Redde Northgate plc can be found on the Company's website:

www.reddenorthgate.co.uk

ENDS

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