KINOVO PLC — Director's Dealing 2021

Mar 11, 2021

National Storage Mechanism | Additional information

RNS Number : 9404R

Bilby PLC

11 March 2021

11 March 2021

Bilby Plc

("Bilby" or the "Company")

Director/PDMR Shareholding and Share Plan

Bilby Plc (AIM: BILB), a leading supplier of gas heating, electrical and building services, is pleased to announce the making of further awards under the Company's established CSOP Plan (the "CSOP Plan") and JSOP Plan (the "JSOP Plan").

The Company has granted options under the CSOP Plan on 5 March 2021 in the following quantities to the following Directors:

Director/PDMR	Options Granted	Exercise price
David Bullen	85,714	35p
Clive Lovett	85,714	35p
Lee Venables	85,714	35p

The following table also sets out the number of new ordinary shares ("Ordinary Shares") issued and jointly acquired by each of the named directors and the trustee of The Bilby Employees' Share Trust ("the Trust") under the JSOP Plan on 5 March 2021 at a subscription price of 35 pence per Ordinary Share, being the closing price of an Ordinary Share in the Company on 04 March 2021. 

Director/PDMR	Ordinary Shares	Subscription Price
David Bullen	1,414,286	35p per Ordinary Share
Clive Lovett	414,286	35p per Ordinary Share
Lee Venables	414,286	35p per Ordinary Share

The vesting of the Jointly Owned Shares is conditional on the achievement of specific performance conditions for the following financial and shareholder return metrics: a minimum 25% compound annual growth rate in both earnings per share and cash generated from operating activities as well as share price targets. 

Further, the Jointly Owned Shares will become vested only if the participant remains with the Company for a minimum period of 3 years.

Application has been made to the London Stock Exchange for 2,242,858 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to become effective on 16 March 2021.

Following Admission, the beneficial interests held by each of the directors will be:

Director/PDMR	No. of whole Shares in which the Director is interested	No. of Shares in which the Director has an interest under the terms of a JOA
David Bullen	2,888,773	1,664,286
Clive Lovett	868,831	414,286
Lee Venables	962,948	414,286

The Ordinary Shares represent 3.7% of the Company's issued share capital following grant.

Bilby advises that, following Admission of the 2,242,858 Ordinary Shares, the issued share capital of the Company will be 61,214,703 Ordinary Shares with one voting right each. The Company does not hold any shares in treasury.

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Sangita Shah, Chair, Bilby plc, commented:

"I am pleased to announce the last pillar of our share incentive arrangements for the Group.  The prioritisation of our workforce saw the introduction of a Company-wide Share Incentive Plan in August 2020 with 30% of our employees embracing the opportunity to participate, followed in October 2020 by the roll out of a Company Share Option Plan with 15% of our employees now participating.  As a final step through the Joint Share Ownership Plan, we recognise our Executive Team, who have worked assiduously to revive the business into one which is poised for sustainable growth.   

The Executive Team have been required to make an immediate upfront financial commitment to participate in the Joint Share Ownership Plan for a vesting that will occur in three years' time, only subject to performance targets, demonstrating their confidence, purpose and dedication to the journey ahead.

The broad inclusion of all employees, particularly our front-line staff of Engineers and Call Administrators, reflects our commitment to create a culture of share ownership, align our staff with shareholder's interests and ensure that our staff are rewarded by sharing in the success of our business."

Enquiries

Bilby Plc
Sangita Shah, Chairman David Bullen, Chief Executive Officer	+44 (0)20 7796 4133 (via Hudson Sandler)
Canaccord Genuity Limited (Nominated Adviser and Sole Broker)	+44 (0)20 7523 8000
Corporate Broking: Bobbie Hilliam Andrew Potts Georgina McCooke Sales: Jonathan Barr
Hudson Sandler (Financial PR)	+44 (0)20 7796 4133
Charlie Jack Bertie Berger

1.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Bullen

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

b)

LEI

213800JDWVCVYWS87928

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

GB00BV9GHQ09

b)

Nature of the transaction

Issue of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
35p	1,500,000

d)

Aggregated information:

Aggregated volume

Price

1,500,000 Ordinary Shares issued at a price of 35 pence per Ordinary Share

e)

Date of the transaction

10 March 2021

f)

Place of the transaction

London Stock Exchange (XLON)

1.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Clive Lovett

2.               

Reason for the Notification

a)

Position/status

Group Finance Director

b)

Initial notification/Amendment

Initial Notification

3.    

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

b)

LEI

213800JDWVCVYWS87928

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

GB00BV9GHQ09

b)

Nature of the transaction

Issue of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
35p	500,000

d)

Aggregated information:

Aggregated volume

Price

500,000 Ordinary Shares issued at a price of 35 pence per Ordinary Share

e)

Date of the transaction

10 March 2021

f)

Place of the transaction

London Stock Exchange (XLON)

1.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Lee Venables

2.               

Reason for the Notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/Amendment

Initial Notification

3.    

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

b)

LEI

213800JDWVCVYWS87928

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

GB00BV9GHQ09

b)

Nature of the transaction

Issue of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
35p	500,000

d)

Aggregated information:

Aggregated volume

Price

500,000 Ordinary Shares issued at a price of 35 pence per Ordinary Share

e)

Date of the transaction

10 March 2021

f)

Place of the transaction

London Stock Exchange (XLON)

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