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CAVENDISH FINANCIAL PLC
Declaration of Voting Results & Voting Rights Announcements • Feb 20, 2024
7550_dirs_2024-02-20_a18d9ca4-7481-47ba-94d3-19967081f5f0.html
Declaration of Voting Results & Voting Rights Announcements
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National Storage Mechanism | Additional information 
RNS Number : 6836D
Cavendish Financial PLC
20 February 2024
20 February 2024
Cavendish Financial plc
("Cavendish", the "Company" or the "Group")
Total Voting Rights and Directors Dealings
Cavendish Financial plc (AIM:CAV) is pleased to announce that the invitation period for the Company's Co-Investment Share Plan (the "CiP") closed to eligible employees on 19 February and 56 employees have chosen to participate in the CiP.
In aggregate, employees have contributed £1,211,000 for the subscription of new ordinary shares in Cavendish at 9.75p per share (the closing market price on 19 February 2024), and committed to purchase £72,820 worth of Cavendish shares, via monthly purchases in the market, using post-tax payroll deductions spread over the next 12 months.
Accordingly, Cavendish has raised £1,211,000 of new capital through the issue of 12,420,500 new ordinary shares of 1 pence each under the CiP, which shares have been issued and allotted to the trustee of the Company's employee benefit trust, Ogier Global Trustee (Jersey) Limited, in its capacity as nominee on behalf of participants.
The Company has applied 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 26 February 2024.
Subject to the rules of the CiP, (a summary of which has been previously announced), and all participants remaining in the CiP until the end of the 3-year lock up period, the estimated number of free shares that may be allotted under the CiP if (i) the minimum share price target is achieved, is c.6.2m new ordinary shares (c.1.7% of Cavendish's issued share capital, post the allotment announced today) and (ii) if the maximum share price target is achieved, is c.49.7m new ordinary shares (c.13.3% of Cavendish's issued share capital, post the allotment announced today).
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 374,610,065 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 374,610,065 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 CiP, Cavendish announces today the following subscription of ordinary shares of 1 pence each by its directors and PDMRs pursuant to the CiP:
| Director /PDMR | No. of Shares | Price per Share | Resulting Shareholding | Shareholding % of ISC |
| Julian Morse, Co-CEO | 512,820 | 9.75p | 5,893,271 | 1.6% |
| John Farrugia, Co-CEO | 205,128 | 9.75p | 2,132,797 | 0.6% |
| Ben Procter - CFO | 512,820 | 9.75p | 802,820 | 0.2% |
| Richard Snow - COO | 205,128 | 9.75p | 533,825 | 0.1% |
Subject to the rules of the CiP, Cavendish also announces today the grant of the following conditional share awards over ordinary shares of 1 pence each to its directors and PDMRs:
| Director / PDMR | Minimum No. of Shares subject to CiP Award | Price per Share | Maximum No. of Shares subject to CiP Award | Price per Share |
| Julian Morse, Co-CEO | 256,410 | Nil | 2,051,280 | Nil |
| John Farrugia, Co-CEO | 102,564 | Nil | 820,512 | Nil |
| Ben Procter - CFO | 256,410 | Nil | 2,051,280 | Nil |
| Richard Snow - COO | 102,564 | Nil | 820,512 | Nil |
Further details of the subscriptions and conditional share awards are included in the notifications below, made in accordance with the requirements of the UK Market Abuse Regulation.
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 person discharging managerial responsibilities / person closely associated | ||||
| 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) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Subscription of shares under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.0975 | 512,820 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| 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) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £nil | Minimum 256,410 Maximum 2,051,280 |
||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| 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) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Subscription of shares under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.0975 | 205,128 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| 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) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £nil | Minimum 102,564 Maximum 820,512 |
||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| 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) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Subscription of shares under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.0975 | 512,820 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| 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) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £nil | Minimum 256,410 Maximum 2,051,280 |
||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Richard Snow | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | COO | |||
| b) | Initial notification /Amendment | Initial | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Subscription of shares under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £0.0975 | 205,128 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Richard Snow | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | COO | |||
| b) | Initial notification /Amendment | Initial | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Cavendish Financial plc | |||
| b) | LEI | 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 | |||
| Identification code | GB00BGKPX309 | ||||
| b) | Nature of the transaction | Grant of conditional share award under the Cavendish Financial plc Co-Investment Plan | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| £nil | Minimum 102,564 Maximum 820,512 |
||||
| d) | Aggregated information | ||||
| - Aggregated volume | N/A | ||||
| - Price | |||||
| e) | Date of the transaction | 19 February 2024 | |||
| f) | Place of the transaction | Outside of trading venue |
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