ADVFN PLC

Share Issue/Capital Change • May 16, 2024

National Storage Mechanism | Additional information

RNS Number : 6140O

ADVFN PLC

16 May 2024

For immediate release

16 May 2024

ADVFN plc

("ADVFN" or the "Company")

Director / PDMR shareholding

Issue of equity

As announced on 9 June 2023, the Board adopted a new option scheme for Directors and employees ("Scheme"), and a copy of the Scheme rules is available from the Company's website at www.advfnplc.com .

Pursuant to the Scheme, on 15 May 2 024 the Board awarded new options for 645,300 ordinary shares of 0.2p in the Company ("Ordinary Shares") to directors and management ("Options") . New Options for 315,300 were awarded to the executive Directors ("Director Options") and 330,000 new Options were awarded to management ("Management Options").

The new Director Options represent approximately 0.7 % per cent. of the Company's current issued share capital. Further details of the new Director Options awards are set out in the table below and in the Appendix:

Director	New Options awarded	Exercise price	Vesting exercise date	Exercise term
Amit Tauman	291,300	13p	Vest over three years in equal tranches of one-third per annum, vesting very four months	7 years from grant
Matthew Collom	24,000	13p	Vest over three years in equal tranches of one-third per annum, vesting very four months	7 years from grant

The Director Options have an exercise price of 13p per Ordinary Share, which represents a premium of approximately 24 per cent. to the last closing mid-market price of 10.5p per Ordinary Share. 90,000 Management Options have an exercise price of 13p per Ordinary Share and vest quarterly over four years in equal tranches. The balance of the Management Options have an exercise price of 33p per Ordinary Share and vest every four months over three years in equal tranches. All the Management Options have an exercise period of 7 years from grant.

Following this award of new Options, the Company has a total of 1,455,300 ordinary shares under option, equivalent to approximately 3.16 % per cent of the Company's current issued ordinary share capital.

Issue of equity

As previously announced on 9 June 2023, the Board agreed to issue, subject to shareholder approval, 220,000 new Ordinary Shares to each of the non-executive directors, Lord Gold and Anthony Wollenberg, in recognition of their contribution to the reorganisation of the Company and the Open Offer following the Board changes implemented in 2022 ("Compensation Shares"). In aggregate 440,000 Compensation Shares were to be issued, of which 280,000 Compensation Shares were to be issued following approval by shareholders with the balance subject to vesting conditions.

Following the approval by shareholders of the necessary special resolution to disapply pre-emption rights at the Annual General Meeting held in December 2023, the Board has today now issued 140,000 Compensation Shares due to each of Tony Wollenberg and Lord Gold (amounting to 280,000 Compensation Shares in aggregate). Application has been made for 280,000 Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM which is expected to take effect on or about 22 May 2024. Further details on the Compensation Shares, including the vesting conditions, were set out in the announcement dated 9 June 2023.

For further information please contact:

ADVFN plc Amit Tauman (CEO)	+44 (0) 203 8794 460
Beaumont Cornish Limited (Nominated Adviser) Michael Cornish Roland Cornish	+44 (0) 207 628 3396
Peterhouse Capital Limited (Broker) Eran Zucker Lucy Williams Rose Greensmith	+44 (0) 207 469 0930

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

APPENDIX

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.  

1

Details  of   t he   p erson   disc harging   managerial   responsib ilities  /   p erson   closely associated

a)

Name

Amit Tauman

2

Reason for notification

a)

Position / status

Chief Executive

b)

I nitial notification

/Amendment

Initial

3

Details of t he issu er,  e mission allow a n ce m a r k et participan t, au ct ion plat for m, au ction eer or auc tion monitor

a)

Name

ADVFN plc

b)

LEI

21380042SDV1E1ZVIY40

4

Details of t he t ransact ion (s): section to be re p eated for ( i) e a ch type of instr u m e n t; (ii) each type of transac tion; (iii) each date; and ( iv) each place w h ere transactions have b een condu cted

a)

Description  of  the financial instrument, t ype of instrument

I d e ntification code

Ordinary shares of 0.2 pence each in ADVFN plc

ISIN GB00BPT24C10

Nature of the transaction

Issued pursuant to an award of share options by the Company

Price(s) and volumes(s)

Exercise Price(s)	Volumes(s)
£0.13	291,300 options

d)

Aggregated information

n/a

e)

Date of the transaction

15 May 2024

f)

Place of the transaction

Outside a trading venue

1

Details  of   t he   p erson   disc harging   managerial   responsib ilities  /   p erson   closely associated

a)

Name

Matthew Collom

2

Reason for notification

a)

Position / status

Director

b)

I nitial notification

/Amendment

Initial

3

Details of t he issu er,  e mission allow a n ce m a r k et participan t, au ct ion plat for m, au ction eer or auc tion monitor

a)

Name

ADVFN plc

b)

LEI

21380042SDV1E1ZVIY40

4

Details of t he t ransact ion (s): section to be re p eated for ( i) e a ch type of instr u m e n t; (ii) each type of transac tion; (iii) each date; and ( iv) each place w h ere transactions have b een condu cted

a)

Description  of  the financial instrument, t ype of instrument

I d e ntification code

Ordinary shares of 0.2 pence each in ADVFN plc

ISIN GB00BPT24C10

Nature of the transaction

Issued pursuant to an award of share options by the Company

Price(s) and volumes(s)

Exercise Price(s)	Volumes(s)
£0.13	24,000 options

d)

Aggregated information

n/a

e)

Date of the transaction

15 May 2024

f)

Place of the transaction

Outside a trading venue

1

Details  of   t he   p erson   disc harging   managerial   responsib ilities  /   p erson   closely associated

a)

Name

Lord Gold

2

Reason for notification

a)

Position / status

Director

b)

I nitial notification

/Amendment

Initial

3

Details of t he issu er,  e mission allow a n ce m a r k et participan t, au ct ion plat for m, au ction eer or auc tion monitor

a)

Name

ADVFN plc

b)

LEI

21380042SDV1E1ZVIY40

4

Details of t he t ransact ion (s): section to be re p eated for ( i) e a ch type of instr u m e n t; (ii) each type of transac tion; (iii) each date; and ( iv) each place w h ere transactions have b een condu cted

a)

Description  of  the financial instrument, t ype of instrument

I d e ntification code

Ordinary shares of 0.2 pence each in ADVFN plc

ISIN GB00BPT24C10

Nature of the transaction

Issued in settlement of services provided to the Company

Price(s) and volumes(s)

Price(s)	Volumes(s)
£0.105	140,000

d)

Aggregated information

n/a

e)

Date of the transaction

15 May 2024

f)

Place of the transaction

Outside a trading venue

1

Details  of   t he   p erson   disc harging   managerial   responsib ilities  /   p erson   closely associated

a)

Name

Tony Wollenberg

2

Reason for notification

a)

Position / status

Director

b)

I nitial notification

/Amendment

Initial

3

Details of t he issu er,  e mission allow a n ce m a r k et participan t, au ct ion plat for m, au ction eer or auc tion monitor

a)

Name

ADVFN plc

b)

LEI

21380042SDV1E1ZVIY40

4

Details of t he t ransact ion (s): section to be re p eated for ( i) e a ch type of instr u m e n t; (ii) each type of transac tion; (iii) each date; and ( iv) each place w h ere transactions have b een condu cted

a)

Description  of  the financial instrument, t ype of instrument

I d e ntification code

Ordinary shares of 0.2 pence each in ADVFN plc

ISIN GB00BPT24C10

Nature of the transaction

Issued in settlement of services provided to the Company

Price(s) and volumes(s)

Price(s)	Volumes(s)
£0.105	140,000

d)

Aggregated information

n/a

e)

Date of the transaction

15 May 2024

f)

Place of the transaction

Outside a trading venue

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IOEFLFLREEIELIS