REG - Cavendish Financial - Directors Dealings

Cavendish FinancialAnnouncement

22/04/2024 10:00

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RNS Number : 5060L  Cavendish Financial PLC  22 April 2024

22 April 2024

 

Cavendish Financial plc

("Cavendish", the "Company", the "Group")

 

Directors Dealings

 

Cavendish Financial plc (AIM:CAV) operates a Deferred Bonus Scheme (the "DBS")
and a Short Term Incentive Scheme (the "STIP") (together, the "Schemes") which
are legacy schemes established by Cenkos Securities plc but under which
outstanding awards at completion of the merger between finnCap Group plc and
Cenkos Securities plc (on 7 September 2023) were rolled-over into awards over
Cavendish shares.

 

On 18 April, in accordance with the terms and conditions of the Schemes, one
third of the DBS awards granted to certain employees, including Executive
Directors, in 2021, 2022 and 2023, and one-third of the STIP awards granted to
certain employees, including Executive Directors, in July 2023, vested. The
vested awards were satisfied by the transfer of shares allocated for that
purpose under the Cenkos Securities Employee Benefit Trust (EBT).

 

Upon vesting of these awards, and after off-market sales to the EBT to satisfy
the income tax and NIC liability arising on the vesting, Julian Morse (Co-CEO)
and Ben Procter (CFO) received and retained 661,617 and 233,659 shares
respectively as shown in the table below:

 

 Director /PDMR        Total of DBS and STIP Shares Vesting  Shares retained following sale to cover tax liability  Resulting Shareholding  Shareholding % of ISC
 Julian Morse, Co-CEO  1,258,574                             661,617                                                6,609,989               1.72%
 Ben Procter - CFO     444,484                               233,659                                                1,091,580               0.28%

 

Further details of the subscriptions are included in the notifications below,
made in accordance with the requirements of the UK Market Abuse Regulation.

 

For further information, please contact:

 

CONTACTS

Cavendish (Management)
 
Tel: +44 (0) 20 7220 0500

Julian Morse, Co-Chief Executive
Officer
investor.relations@cavendish (mailto:investor.relations@cavendish) .com

John Farrugia, Co-Chief Executive
Officer

Ben Procter, Chief Financial Officer

 

SPARK Advisory Partners (Nominated Advisor)
 

Matt Davis / Adam Dawes
 
     Tel: +44 (0) 20 3368 3550

 

 

 1   Details of the persons discharging managerial responsibility
 a)  Name                                                         Julian Morse
 2   Reason for the notification
 a)  Position/status                                              Co-CEO
 b)  Initial notification/amendment                               Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Full name of the entity                                      Cavendish Financial plc
 b)  Legal Entity Identifier Code                                 213800DLRUJW6JVNS533
 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 £0.01 nominal value each
 b)  Identification Code                                          GB00BGKPX309
 c)  Nature of the transaction                                    Vesting of ordinary shares under the Deferred Bonus Scheme awarded in 2021 and
                                                                  2022, and the Short Term Incentive Plan awarded in 2023, and the subsequent
                                                                  sale of shares to satisfy income tax and NIC liabilities
 d)  Currency                                                     GBP - British Pound
 e)  Price(s) and Volume(s)                                       (1)  Vesting of Shares

Price(s) per share  Volume(s)
                                                                  N/A                 1,258,574

 

                                                                  (2)  Sale of shares to satisfy tax and NIC liabilities

Price(s) per share  Volume(s)
                                                                  £0.109              596,957

 f)  Aggregated Information                                       N/A

     -       Price

     -       Volume

     -       Total Price
 g)  Date of transaction                                          18 April 2024
 h)  Place of transaction                                         Outside a trading venue

 

(2)  Sale of shares to satisfy tax and NIC liabilities

 Price(s) per share  Volume(s)
 £0.109              596,957

f)

Aggregated Information

-       Price

-       Volume

-       Total Price

N/A

g)

Date of transaction

18 April 2024

h)

Place of transaction

Outside a trading venue

 

 

 1   Details of the persons discharging managerial responsibility
 a)  Name                                                         Ben Procter
 2   Reason for the notification
 a)  Position/status                                              CFO
 b)  Initial notification/amendment                               Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Full name of the entity                                      Cavendish Financial plc
 b)  Legal Entity Identifier Code                                 213800DLRUJW6JVNS533
 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 £0.01 nominal value each
 b)  Identification Code                                          GB00BGKPX309
 c)  Nature of the transaction                                    Vesting of ordinary shares under the Deferred Bonus Scheme and the Short Term
                                                                  Incentive Plan awarded in 2023, and the subsequent sale of shares to satisfy
                                                                  income tax and NIC liabilities
 d)  Currency                                                     GBP - British Pound
 e)  Price(s) and Volume(s)                                       (1)  Vesting of Shares

Price(s) per share  Volume(s)
                                                                  N/A                 444,484

 

                                                                  (2)  Sale of shares to satisfy tax and NIC liabilities

Price(s) per share  Volume(s)
                                                                  £0.109              210,825

 f)  Aggregated Information                                       N/A

     -       Price

     -       Volume

     -       Total Price
 g)  Date of transaction                                          18 April 2024
 h)  Place of transaction                                         Outside a trading venue

 

(2)  Sale of shares to satisfy tax and NIC liabilities

 Price(s) per share  Volume(s)
 £0.109              210,825

f)

Aggregated Information

-       Price

-       Volume

-       Total Price

N/A

g)

Date of transaction

18 April 2024

h)

Place of transaction

Outside a trading venue

 

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