WTL Waterlogic

TIDMWTL

RNS Number : 9950S

Waterlogic PLC

30 September 2014

 
Date:          30 September 2014 
On behalf of:  Waterlogic Plc ("Waterlogic", the "Company" or 
                the "Group") 
 
 

Waterlogic Plc

Director's Dealing

Waterlogic Plc (AIM: WTL.L), a leading designer, assembler and global distributor of point-of-use ("POU") drinking water purification and dispensing systems, announces that on 29 September 2014 it received notification from Ariel Recanati, Non-Executive Chairman of the Company, and Tal Recanati, wife of Ariel Recanati, that they have undertaken certain transfers of their ordinary shares in the Company which constitute a dealing in the Company's shares for the purposes of the AIM Rules.

Prior to the transfers, Logiceau Company, LLC ("Logiceau 1"), Logiceau Company 2, LLC ("Logiceau 2"), Logiceau Company 3, LLC ("Logiceau 3"), Logiceau Company 4 ("Logiceau 4") and Logiceau Company 5, LLC ("Logiceau 5") held a 24.99 per cent interest in the ordinary shares of the Company. Logiceau 1 is a family operated company owned equally by family trusts for the benefit of Ariel's and Tal Recanati's immediate family members (the "Family Trusts"). Logiceau 2 is also a family operated company owned equally by grantor retained annuity trusts ("2012 GRATs") established by Ariel and Tal Recanati for the benefit of their family. Logiceau 3 is also a family operated company owned equally by grantor retained annuity trusts ("2013 GRAT #1s") established by each of Ariel and Tal Recanati for the benefit of their family. Logiceau 4 is also a family operated company owned equally by grantor retained annuity trusts ("2013 GRAT #2s") established by each of Ariel and Tal Recanati for the benefit of their family. Logiceau 5 is also a family operated company owned equally by Ariel and Tal Recanati.

The transfers comprised a distribution of ordinary shares in the Company by Logiceau 2 to each of their respective 2012 GRATs and then from each 2012 GRAT to Ariel and Tal Recanati, respectively.

In addition, the transfers also comprised a distribution of ordinary shares in the Company by Logiceau 4 to each of their respective 2013 GRAT #2s and then from each 2013 GRAT #2 to Ariel and Tal Recanati, respectively.

After the transfers, Logiceau 1 holds 11,180,165 ordinary shares in the Company (representing a 14.39 per cent interest in the Company), Logiceau 3 holds 2,887,424 ordinary shares in the Company (representing a 3.72 per cent interest in the Company), Logiceau 4 holds 818,187 ordinary shares in the Company (representing a 1.05 per cent interest in the Company), Logiceau 5 holds 2,896,914 ordinary shares in the Company (representing a 3.73 per cent interest in the Company), Ariel Recanati holds 815,724 ordinary shares in the Company (representing a 1.05 per cent interest in the Company) and Tal Recanati holds 815,724 ordinary shares in the Company (representing a 1.05 per cent interest in the Company), such that Logiceau 1, Logiceau 3, Logiceau 4, Logiceau 5, Ariel Recanati and Tal Recanati in aggregate hold a 24.99 per cent interest in the ordinary shares in the Company. After the transfers, beneficial ownership of the ordinary shares in the Company continues to be held by trusts for the benefit of Ariel and Tal Recanati and their immediate family members and by Ariel and Tal Recanati individually. No consideration was paid by any party for these transfers.

Under the terms of the 2013 GRAT #1s, a further transfer comprising a distribution of ordinary shares in the Company by Logiceau 3 is expected to occur between 21 June 2015 and 4 October 2015.

Under the terms of the 2013 GRAT #2s, a further transfer comprising a distribution of ordinary shares in the Company by Logiceau 4 is expected to occur between 16 September 2015 and 30 December 2015.

Enquiries:

 
Waterlogic Plc                                   Via Redleaf Polhill 
Jeremy Ben-David, Group Chief Executive Officer 
 Robert Bell, Chief Financial Officer 
 
 
Liberum Capital (Nominated Adviser and Broker)   Tel: +44 (0)203 100 2000 
Steve Pearce 
 Richard Bootle 
 
 Redleaf Polhill                                   Tel: +44 (0)207 382 4730 
 Rebecca Sanders Hewett / David Ison               waterlogic@redleafpr.com 
 
 

Information on Waterlogic Plc

Waterlogic (AIM: WTL.L) is a leading designer, assembler, distributor and operator of mains attached point-of-use ("POU") drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Waterlogic is a Jersey registered company.

Website: www.waterlogic.com

This information is provided by RNS

The company news service from the London Stock Exchange

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