18
September 2024
B.P. Marsh & Partners
Plc
PDMR and Director Dealing
B.P. Marsh (AIM: BPM), the specialist
investor in early-stage financial services
businesses, announces that it has been notified that Ms. Alice
Foulk, Managing Director of the Company, has traded in the
ordinary shares of 10 pence each in the Company ("Ordinary
Shares")
The Company has been notified of the
sale of Ordinary Shares on 17 September 2024 at the open market
price of 526.32p per share by Ms. Alice Foulk, Managing Director of
the Company. The Ordinary Shares sold were held under the B.P.
Marsh Joint Share Ownership Plan (the "JSOP") ("JSOP
Shares").
The JSOP was established on 13 June
2018 and announced by the Company on the same date. On this date
the Employee Participants entered into individual Joint Ownership
Agreements ("JOAs") with JTC Employer Solutions Trustee Limited
(formerly RBC cees Trustee Limited) (the "EBT") as part of the
Company's remuneration and staff incentive arrangements.
The beneficial interests in the JSOP
Shares are jointly held between the relevant employee and the EBT.
The terms of the JOA included a minimum vesting period of three
years and, subject to the Employee Participant remaining employed
for this duration, state that upon sale of the vested shares the
proceeds of sale will be divided between the joint owners so that
the EBT receives 312.60p per share (which represents the Initial
Threshold Value of 281p plus a hurdle amount of 3.75% per annum
during the vesting period) and the Employee Participant is entitled
to the balance of 213.72p per share. The JOAs matured as fully
vested on 13 June 2021 and Ms. Foulk has now partially exercised
her right to sell 27,200 JSOP Shares.
As a result of the transaction,
Alice has a beneficial interest in 23,428 Ordinary Shares, together
with a beneficial interest in 25,809 Ordinary Shares held in the
Company's SIP Trust, representing in aggregate approximately 0.13%
of the total voting rights of the Company.
Additionally, Alice, as part of the
Company's Joint Share Ownership Plan, has a beneficial interest (as
a joint owner alongside JTC Employer Solutions Trustee) over 90,414
Ordinary Shares, representing approximately 0.24% of the total
voting rights of the Company.
Furthermore, Alice has options over
260,000 Ordinary Shares as part of the Company's Share Option Plan
announced on 15 November 2023.
The information below, set out in
accordance with the requirements of the EU Market Abuse Regulation,
provides further detail.
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
|
Alice Foulk
|
|
2
|
Reason for notification
|
|
a)
|
Position / status
|
Managing Director, PDMR
|
|
b)
|
Initial notification /
amendment
|
Initial
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
B.P. Marsh & Partners
Plc
|
|
b)
|
LEI
|
2138008G8EPE3HAHEM13
|
|
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 10
pence each
|
|
|
Identification code
|
ISIN: GB00B0XLRJ79
|
|
b)
|
Nature of the transaction
|
Sale of interests in shares pursuant
to a Joint Share Ownership Plan for 526.32p per share. On sale of a
JSOP Share, the participant is entitled to the sale proceeds in
excess of a threshold amount of 312.6p. An Employee Benefit Trust
is entitled to the balance of the sale proceeds.
|
|
c)
|
Price(s) and volumes(s)
|
|
Price(s)
£5.2632 per share
|
Volume(s)
27,200
|
|
|
d)
|
Aggregated information
|
N/A
|
|
e)
|
Date of the transaction
|
2024-09-17
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
(XLON)
|
For further
information:
|
B.P. Marsh & Partners
Plc
|
www.bpmarsh.co.uk
|
|
Brian Marsh OBE
|
+44
(0)20 7233 3112
|
|
|
|
|
Nominated Adviser & Joint
Corporate Broker
Panmure Liberum
Limited
|
|
|
Atholl
Tweedie / Amrit Mahbubani / Ailsa MacMaster
|
+44
(0)20 7886 2500
|
|
|
|
|
Joint Corporate
Broker
Singer Capital Markets Advisory
LLP
Charles
Leigh Pemberton / James Moat / Asha Chotai
Financial PR & Investor
Relations
|
+44 (0)20 7496 3000
|
|
Tavistock
|
bpmarsh@tavistock.co.uk
|
|
Simon
Hudson / Tim Pearson / Katie Hopkins
|
+44
(0)20 7920 3150
|
Notes to Editors:
B.P. Marsh's current portfolio
contains fifteen companies. More detailed descriptions of
the portfolio can be found at www.bpmarsh.co.uk.
Since formation over 30 years ago,
the Company has assembled a management team with considerable
experience both in the financial services sector and in managing
private equity investments. Many of the directors have worked with
each other in previous roles, and all have worked with each other
for over ten years.
- Ends
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