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WATKIN JONES PLC — Director's Dealing 2019
Jul 4, 2019
8016_dirs_2019-07-04_26e5071c-1855-4610-a5f7-7f94e6e60fd8.html
Director's Dealing
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RNS Number : 5577E
Watkin Jones plc
04 July 2019
| For immediate release | 4 July 2019 |
Watkin Jones plc
('Watkin Jones', the 'Group' or the 'Company')
Director/PDMR Shareholding
Total Voting Rights
Watkin Jones plc (AIM: WJG), a leading UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation and build to rent sectors, announces that on 1 July 2019, Richard Simpson, Chief Executive Officer, exercised 453,224 awards granted over ordinary shares of 1 penny each in the Company (the "Ordinary Shares") under the Watkin Jones Recruitment Plan (the "Awards").
Accordingly, application has been made for 453,224 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 5 July 2019.
In conjunction with the exercise of the Awards, Mr Simpson sold 216,900 Ordinary Shares in order to pay the option price for the shares of 1 penny per share and to discharge the tax liabilities arising as the table below summarises:
| Award | Number of Ordinary Shares exercised under the Awards | Number of Ordinary Shares sold to pay the option price and discharge tax liabilities | Balance of Ordinary Shares retained |
| 2015 Buyout Award | 92,480 | Nil | 92,480 |
| 2016 Buyout Award | 360,744 | 216,900 | 143,844 |
The 2016 Awards are subject to a two year holding period from their vesting date of 23 June 2019. In addition, no further sale of the retained Ordinary Shares relating to the Awards referenced above will be permitted until such time as Mr Simpson holds a value of Ordinary Shares equivalent to 200% of his salary.
Following the transactions, Mr Simpson has an interest in 236,324 Ordinary Shares representing 0.09 per cent. of the issued share capital of the Company.
In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following this transaction its issued share capital will consist of 255,722,099 Ordinary Shares of 1 penny each. Shareholders may use this figure 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 Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information:
| Watkin Jones plc | ||
| Richard Simpson, Chief Executive Officer | Tel: +44 (0) 1248 362 516 | |
| Philip Byrom, Chief Financial Officer | www.watkinjonesplc.com | |
| Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) | Tel: +44 (0) 20 7418 8900 | |
| Mike Bell / Ed Allsopp | www.peelhunt.com | |
| Jefferies Hoare Govett (Joint Corporate Broker) | Tel: +44 (0) 20 7029 8000 | |
| Max Jones / Will Soutar | www.jefferies.com | |
Media enquiries:
| Buchanan | |
| Henry Harrison-Topham / Richard Oldworth Jamie Hooper / Steph Watson |
Tel: +44 (0) 20 7466 5000 |
| [email protected] | www.buchanan.uk.com |
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Richard Simpson | |||
| 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 | Watkin Jones plc | |||
| b) | LEI | 2138009X19O21NU5SG79 | |||
| 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 | Awards over ordinary shares of 1 pence each | |||
| Identification code | ISIN: GB00BD6RF223 | ||||
| b) | Nature of the transaction | Exercise of awards over Ordinary Shares of 1 pence each | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 1 penny | 453,224 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 453,224 | ||||
| - Price | £4,532.24 | ||||
| e) | Date of the transaction | 1 July 2019 | |||
| f) | Place of the transaction | Outside trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Richard Simpson | |||
| 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 | Watkin Jones plc | |||
| b) | LEI | 2138009X19O21NU5SG79 | |||
| 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 1 pence each | |||
| Identification code | ISIN: GB00BD6RF223 | ||||
| b) | Nature of the transaction | Sale of Ordinary Shares of 1 pence each | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 206.1p 205.0p |
44,400 172,500 |
||||
| d) | Aggregated information | ||||
| - Aggregated volume | 216,900 | ||||
| - Price | £445,132.37 | ||||
| e) | Date of the transaction | 3 July 2019 | |||
| f) | Place of the transaction | London Stock Exchange, AIM |
Notes to Editors
Watkin Jones is a leading UK developer and constructor of multi-occupancy residential property assets, with a focus on the student accommodation and build to rent sectors. The Group has strong relationships with institutional investors, and a good reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered 38,000 student beds across 117 sites, making it a key player and leader in the UK purpose built student accommodation market. In addition, the Fresh Property Group, the Group's specialist accommodation management company, manages over 15,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments. The Group is now expanding its operations into the build to rent sector.
The Group's competitive advantage lies in its experienced management team and business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit: www.watkinjonesplc.com
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 [email protected] or visit www.rns.com.
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