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.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
- 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
- Price
- Volume
- Total
Price
|
N/A
|
|
g)
|
Date of transaction
|
18 April 2024
|
|
h)
|
Place of transaction
|
Outside a trading venue
|