21st Apr 2017 13:07
Jarvis Securities plc
("Jarvis" or the "Company")
PDMR Dealings
Substantial Shareholder Notifications
The Company has received notice today that, pursuant to a restructuring of its significant shareholder Sion Securities Limited ("Sion"), Sion which on 16 October 2015 was put into a solvent Members Voluntary Liquidation) and the beneficial ownership of the underlying shares in Jarvis these have now been transferred to the shareholders of Sion on 20 April 2017 for nil consideration. The shares will continue to be legally held by JIM Nominees Limited.
As consequence of this transaction, and subsequent minor transfers between members of the Grant family, Andrew Grant, a director of the Company, now holds a direct beneficial interest in 3,026,405 Ordinary Shares in the Company, including 87,150 Ordinary shares held in his SIPP, (which represents 27.5% of the current issued shares of the Company) and an indirect interest in 1,126,239 Ordinary Shares in the Company, held in the name of his wife, Jane Grant. In total, Andrew Grant is interested in 4,152,644 Ordinary Shares representing 37.18% of the issued share capital.
In addition, two other substantial shareholders have today notified a change in interest in their shareholdings, as a consequence of this transaction:
Name of Shareholder | Number of Shares Beneficially Held | Interest in the Company (%) |
Florence Elizabeth Grant | 1,063,518 | 9.67 |
Lionel George Grant | 513,630 | 4.67 |
Commenting on the transaction CEO, Andrew Grant said "We believe this restructuring is a positive step for the Company and provides greater transparency and clarity as to the underlying shareholders of Jarvis, showing the precise holdings of each member of the Grant family. It also puts greater control over the shareholdings into the hands of the individual shareholders and demonstrates that no one single shareholder holds over 50% of the issued shares, which we believe will be positively received by current and future investors. "
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on shares acquired.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Andrew Grant | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Jarvis Securities plc | ||||
b) | LEI | N/A | ||||
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 1p
GB00B013J330
| ||||
b) | Nature of the transactions | Transfer of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
2,939,255 nil | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
Enquiries:
Jarvis Securities plc 01892 510 515
Andrew Grant
Jolyon Head
WH Ireland Limited 0113 394 6600
Katy Mitchell
Ed Allsopp
Related Shares:
Jarvis Securities