20th Dec 2022 16:38
20 December 2022
CVS Group Plc
("CVS", the "Company" or the "Group")
Exercise of Options, PDMR Dealing, EBT Share Purchase and Total Voting Rights
CVS, one of the UK's leading providers of integrated veterinary services, announces that on 19 December 2022, options over a total of 115,280 new Ordinary shares of 0.2 pence each (the "New shares") were exercised under the CVS Group 2019 Long Term Incentive Plan ("LTIP 13"), at an exercise price of 0.2 pence.
Richard Fairman, Chief Executive Officer, Ben Jacklin, Chief Operating Officer, and Robin Alfonso, Chief Financial Officer, exercised options over 46,296, 27,778 and 15,278 Ordinary shares of 0.2p each in the Company ("Ordinary shares") respectively. The balance of the options was exercised by certain other employees of the Company.
On 19 December 2022, the Company was notified by JTC Employer Solutions Trustee Limited, the trustee of the CVS Group Employee Benefit Trust (the "EBT"), that the EBT had purchased a total of 60,944 of the New shares from LTIP 13 option-holders at a volume-weighted average price of £20.01 per Ordinary share. This included the purchase of shares by the EBT from Richard Fairman, Ben Jacklin and Robin Alfonso to meet the costs of exercise incurred by them as PDMR option-holders, including personal taxation, as set out below:
Name Number of shares sold to EBT Price
Richard Fairman 22,159 £20.01
Ben Jacklin 13,295 £20.01
Robin Alfonso 7,313 £20.01
The New shares purchased by the EBT are intended to be used to satisfy the exercise of share options by employees. The EBT is a discretionary trust for the benefit of the Company's employees, including the Directors of the Company. The purchase of the New shares by the EBT has been funded from the Company's existing cash reserves. Following this transaction, a total of 60,968 Ordinary shares are held by the EBT, representing approximately 0.086% of the Company's total voting rights.
Application has been made for the New shares, which rank pari passu in all respects with the Company's existing Ordinary shares, to be admitted to trading on AIM, which is expected to occur on 22 December 2022.
Following the issue of the New shares, the Company has a total issued share capital of 71,271,971 Ordinary shares each carrying one voting right. The Company holds no Ordinary shares in treasury. Therefore, following the issue of the New shares, the total number of voting rights in the Company will be 71,271,971. This figure may be used by shareholders 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.
Following their respective option exercises, their sales of a portion of the New shares arising and admission of the New shares, the Executive Directors hold a beneficial interest in the following Ordinary shares in the Company:
Name Number of shares Percentage interest in the Company
Richard Fairman 55,981 0.079%
Ben Jacklin 22,384 0.031%
Robin Alfonso 11,442 0.016%
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
Contacts:
CVS Group plc via Camarco
Richard Fairman, CEO
Jenny Farrer, Company Secretary
Peel Hunt LLP (Nominated Adviser & Broker) +44 (0)20 7418 8900
Adrian Trimmings / Michael Burke / Andrew Clark / Lalit Bose
Berenberg (Joint Broker) +44 (0)20 3207 7800
Toby Flaux / Ben Wright / Ciaran Walsh / Milo Bonser
Camarco (Financial PR)
Geoffrey Pelham-Lane +44 (0)7733 124 226
Ginny Pulbrook +44 (0)7961 315 138
Toby Strong +44 (0)7789 151 644
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Richard Fairman
| ||||
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
| CVS Group plc | ||||
b)
| LEI
| 213800J41XDQ2NX48O05 | ||||
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
Identification code
| Ordinary shares of 0.2 pence each
GB00B2863827
| ||||
b)
| Nature of the transaction
| i) Exercise of options under LTIP 13 ii) Sale of Ordinary shares arising from exercise | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A
| ||||
e)
| Date of the transaction
| 19 December 2022 | ||||
f)
| Place of the transaction
| i) Outside a trading venue ii) London Stock Exchange, AIM. | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Ben Jacklin | ||||
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
| |||||
a)
| Name
| CVS Group plc | ||||
b)
| LEI
| 213800J41XDQ2NX48O05 | ||||
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
Identification code
| Ordinary shares of 0.2 pence each
GB00B2863827
| ||||
b)
| Nature of the transaction
| i) Exercise of options under LTIP 13 ii) Sale of Ordinary shares arising from exercise | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A
| ||||
e)
| Date of the transaction
| 19 December 2022 | ||||
f)
| Place of the transaction
| i) Outside a trading venue ii) London Stock Exchange, AIM. | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Robin Alfonso | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Financial Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| CVS Group plc | ||||
b)
| LEI
| 213800J41XDQ2NX48O05 | ||||
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
Identification code
| Ordinary shares of 0.2 pence each
GB00B2863827
| ||||
b)
| Nature of the transaction
| i) Exercise of options under LTIP 13 ii) Sale of Ordinary shares arising from exercise | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A
| ||||
e)
| Date of the transaction
| 19 December 2022 | ||||
f)
| Place of the transaction
| i) Outside a trading venue ii) London Stock Exchange, AIM. | ||||
Related Shares:
CVS Group