CLS Holdings PLC Director/PDMR Shareholding (7091W)
April 28 2016 - 9:57AM
UK Regulatory
TIDMCLI
RNS Number : 7091W
CLS Holdings PLC
28 April 2016
CLS Holdings plc
(the "Company")
Notification of compliance with Listing Rule 9.2.2AR
and
Transaction of Directors, Persons Discharging Managerial
Responsibilities ("PDMR") or Connected Person
The Company has been informed that, Sten Mortstedt, Executive
Director of the Company, has undertaken a reorganisation of the
companies, which he is the sole direct and beneficial owner of:
Creative Value Investment I Ltd, Creative Value Investment II Ltd,
and Creative Value Investment III Ltd (together the "CVIs") and
which in aggregate hold legal title to 21,369,429 ordinary shares
of 25 pence each in the Company ("Ordinary Shares"). Sten Mortstedt
has transferred all of his shareholdings in the CVIs to Creative
Value Investment Group Limited ("CVIG"), which at the time of such
transfer was directly held and beneficially owned by Sten Mortstedt
(the "Transaction").
The Transaction took place on 28 April 2016 in consideration for
the issue of shares in CVIG to Sten Mortstedt. Immediately
following the Transaction, Sten Mortstedt settled his entire
shareholding in CVIG into The Sten and Karin Mortstedt Family &
Charity Trust, in which Sten Mortstedt has a beneficial
interest.
These 21,369,429 Ordinary Shares represent 50.70% of the issued
share capital and voting rights of the Company (excluding Ordinary
Shares held in treasury).
As a result of the Transaction, the beneficial interest of Sten
Mortstedt in the Company remains unchanged.
The Transaction constitutes a transaction by connected persons
of a person discharging managerial responsibilities pursuant to DTR
3.1 of the Disclosure Rules and Transparency Rules.
In order to address the requirements applicable to companies
with controlling shareholders set out in LR 9.2.2AR of the Listing
Rules, the Company announces that it has entered into a new
relationship agreement with CVIG as its controlling shareholder.
The relationship agreement dated 14 December 2015 between the
Company and Sten Mortstedt terminated upon the entry into the
relationship agreement with CVIG.
Enquiries:
David Fuller
Company Secretary
CLS Holdings plc
+44 20 7582 7766
Jonathan Gray
Kinmont
5 Clifford Street
London W1S 2LG
+44 7785 376690
+44 20 7087 9100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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