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RNS Number : 2841Y

Panoply Holdings PLC (The)

08 September 2020

8 September 2020

The Panoply Holdings PLC

("The Panoply", or the "Group")

Issue of Shares / PDMR dealing and total voting rights

The Panoply Holdings PLC, the technology-enabled services group focused on digital transformation, announces that the Group has today issued 7,728,306 new ordinary shares of 1p in respect of outstanding acquisition consideration totalling GBP6,547,036 ("Earnout Shares").

Neal Gandhi and Oliver Rigby received 286,833 and 44,612 Earnout Shares respectively in respect of the acquisitions as set out in the following table:

 
 Name            Shares issued   Total shares held   Percentage of 
                                  post issue          issued share capital 
 Neal Gandhi     286,833         9,779,584           14.5% 
                --------------  ------------------  ---------------------- 
 Oliver Rigby    44,612          5,110,719           7.6% 
                --------------  ------------------  ---------------------- 
 

Remaining value of acquisition consideration to be issued

Following the issue, the Company has additional consideration to pay totalling GBP14,288,758. The maximum further shares to be issued as a result of this consideration is 18,666,977, which reduces to 10,991,352 assuming the share price remained constant at 130p, being the closing mid market price on the day prior to this announcement . Further details of the share issues are set out below:

 
 Value GBP'000s   Minimum share price   Max shares to be issued '000s   Shares to be issued calculated based on 
                                                                        yesterday's closing share price 
          9,763                   74p                          13,194                                            7,510 
                 --------------------  ------------------------------  ----------------------------------------------- 
          1,306                   82p                           1,593                                            1,004 
                 --------------------  ------------------------------  ----------------------------------------------- 
            838                 82.5p                           1,015                                              645 
                 --------------------  ------------------------------  ----------------------------------------------- 
          2,382               83.125p                           2,865                                            1,832 
                 --------------------  ------------------------------  ----------------------------------------------- 
         14,289                                                18,667                                           10,991 
                 --------------------  ------------------------------  ----------------------------------------------- 
 
 
 Timing of payment                Value GBP'000s 
  of acquisition consideration 
 Within the next 6 
  months                                   4,219 
                                 --------------- 
 Between 6-12 months                       5,294 
                                 --------------- 
 After 12 months                           4,776 
                                 --------------- 
 

Admission to trading and total voting rights

An application has been made for the admission of the Earnout Shares to trading on AIM which is expected to take place on 9 September 2020.

Following this issue of Earnout Shares and the shares issued in relation to the acquisition of Difrent, the Company will have 67,318,815 Ordinary Shares in issue and no Ordinary Shares in treasury. Therefore, the total voting rights in The Panoply will be 67,318,815. T his figure may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Group under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

 
   The Panoply Holdings 
     Neal Gandhi (CEO)                 Via Alma PR 
     Oliver Rigby (CFO) 
 
     Stifel Nicolaus Europe Limited    +44 (0)207 710 7600 
     (Nomad and Broker) 
    Fred Walsh 
     Alex Price 
 
    Alma PR                           panoply@almapr.co.uk 
     (Financial PR)                    +44(0)203 405 0209 
     Susie Hudson 
     Josh Royston 
     Harriet Jackson 
 

About The Panoply

The Panoply is a digitally native technology services company, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology, design and innovation consulting businesses across Europe, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.

More information is available at www.thepanoply.com

 
 1                   Details of the person discharging managerial 
                      responsibilities / person closely associated 
 a)                Name                          Neal Gandhi 
                  --------------------------    -------------------------------------- 
 2                   Reason for the notification 
                    ------------------------------------------------------------------ 
 a)                Position/status               Chief Executive Officer 
                  --------------------------    -------------------------------------- 
 b)                Initial notification          Initial notification 
                    /Amendment 
                  --------------------------    -------------------------------------- 
 3                   Details of the issuer, emission allowance 
                      market participant, auction platform, auctioneer 
                      or auction monitor 
                    ------------------------------------------------------------------ 
 a)                Name                          The Panoply Holdings Plc 
                  --------------------------    -------------------------------------- 
 b)                LEI                           2138004S9O18Q6F9MS74 
                  --------------------------    -------------------------------------- 
 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                Ordinary Shares 
                    the financial 
                    instrument, type 
                    of instrument 
                   Identification                ISIN: GB00BGGK0V60 
                    code 
 b)                Nature of the                 Receipt of vendor consideration 
                    transaction                   shares 
 
 c) Price(s) and 
  volume(s) 
                                                     286,833 ordinary shares at 118p 
                                                    -------------------------------- 
 d)                Aggregated information        N/A 
                   - Aggregated 
                    volume 
                   - Price 
 e)                Date of the transaction       7 September 2020 
 f)                Place of the                  Outside a trading venue 
                    transaction 
                  --------------------------    -------------------------------------- 
 
 1                   Details of the person discharging managerial 
                      responsibilities / person closely associated 
                    ------------------------------------------------------------------ 
 a)                Name                          Oliver Rigby 
                  --------------------------    -------------------------------------- 
 2                   Reason for the notification 
                    ------------------------------------------------------------------ 
 a)                Position/status               Chief Financial Officer 
                  --------------------------    -------------------------------------- 
 b)                Initial notification          Initial notification 
                    /Amendment 
                  --------------------------    -------------------------------------- 
 3                   Details of the issuer, emission allowance 
                      market participant, auction platform, auctioneer 
                      or auction monitor 
                    ------------------------------------------------------------------ 
 a)                Name                          The Panoply Holdings Plc 
                  --------------------------    -------------------------------------- 
 b)                LEI                           2138004S9O18Q6F9MS74 
                  --------------------------    -------------------------------------- 
 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                Ordinary Shares 
                    the financial 
                    instrument, type 
                    of instrument 
                   Identification                ISIN: GB00BGGK0V60 
                    code 
 b)                Nature of the                 Receipt of vendor consideration 
                    transaction                   shares 
 
 c) Price(s) and 
  volume(s) 
                                                     44,612 ordinary shares at 118p 
                                                    -------------------------------- 
 d)                Aggregated information        N/A 
                   - Aggregated 
                    volume 
                   - Price 
 e)                Date of the transaction       7 September 2020 
 f)                Place of the                  Outside a trading venue 
                    transaction 
                  --------------------------    -------------------------------------- 
 
 

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