finnCap Group PLC COVID Option Exercises and EBT Holdings in Company (0276V)
December 08 2021 - 11:04AM
UK Regulatory
TIDMFCAP
RNS Number : 0276V
finnCap Group PLC
08 December 2021
8 December 2021
finnCap Group plc
(the "Company" and, together with its subsidiaries, the
"Group")
COVID Option Exercises and EBT Holdings in Company
In its interim results released on 18 November 2021, the Company
announced its intention to make an offer to staff members holding
options granted in connection with the salary sacrifice
arrangements in April 2020 (known as the "COVID Options") in order
to facilitate exercise and arrange for settlement of related tax
where applicable using the finnCap Group Employee Benefit Trust
("EBT") to reduce the dilutive impact of such exercises.
Following the interim results, the offer was made and the
Company today confirms that COVID Options over 4,616,318 ordinary
shares ("shares") at an exercise price of GBP0.01 a share were
exercised as part of the offer (representing c.95% of all such
exerciseable options). These options are being satisfied using
existing shares held by the EBT. Of these, 4,221,818 shares were
transferred by the EBT to staff yesterday, and the remainder are
expected to be transferred by the EBT to staff within the next
week.
Staff elected to sell, and the EBT has purchased, 2,444,405 of
these shares at a price of GBP0.345 per share (being the closing
mid-price on 6 December 2021) in order to satisfy the exercise
price and their tax liability arising on exercise. The Group has
lent the EBT c.GBP845k in order to fund these share purchases.
Staff who elected to sell shares to the EBT agreed that their
remaining shares (1,777,413 shares in total) would be subject to a
12 month lock-in.
Further details on the transfers are included in the
notifications below.
Following the exercises referred to above, COVID Options over
225,500 shares remain outstanding.
There is no change in the total voting rights of the Company as
a result of the above transactions.
For information, please contact:
finnCap Group plc Tel: +44 (0) 20 7220 0500
Sam Smith, Chief Executive Officer
investor.relations@finncap.com
Richard Snow, Chief Financial Officer
Grant Thornton (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/George Grainger
Oberon Capital (Joint broker) Tel: +44 (0) 20 3179 5344
Mike Seabrook
finnCap Ltd (Joint Broker) Tel: +44 (0) 20 7220 0500
Rhys Williams / Tim Redfern
TR-1: S tandard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible) (i)
1a. Identity of the issuer or the finnCap Group plc
underlying issuer of existing shares
to which voting rights are attached
(ii) :
-----------------------------------------------------------
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
------------------
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights X
------------------
An acquisition or disposal of financial instruments
------------------
An event changing the breakdown of voting rights
------------------
Other (please specify) (iii) :
------------------
3. Details of person subject to the notification obligation (iv)
Name Ogier Global Trustee (Jersey) Limited
as Trustee
of The FinnCap Group Employee Benefit
Trust
City and country of registered office St Helier, Jersey
(if applicable)
4. Full name of shareholder(s) (if different from 3.) (v)
Name
-----------------------------------------------------------
City and country of registered office
(if applicable)
-----------------------------------------------------------
5. Date on which the threshold was 7 December 2021
crossed or reached (vi) :
-----------------------------------------------------------
6. Date on which issuer notified (DD/MM/YYYY): 07/12/21
-----------------------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) held in issuer
of 8. A) (total of 8.B (8.A + 8.B)
1 + 8.B 2) (vii)
----------------------- --------------------- ---------------- ------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 5.13% 5.13% 9,115,689
----------------------- --------------------- ---------------- ------------------
Position of
previous notification
(if
applicable) 7.24% 0 7.24%
----------------------- --------------------- ---------------- ------------------
8. Notified details of the resulting situation on the date on which
the threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights % of voting rights
shares (ix)
ISIN code (if
possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
-----------------
Ordinary 9,115,689 5.13%
----------------- ----------------- ----------------------------------- --------------
SUBTOTAL 8. A
------------------------------------ ---------------------------------------------------
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion rights that may rights
(x) Period be acquired if
(xi) the instrument
is
exercised/converted.
----------------- ----------------- ----------------------------------- --------------
SUBTOTAL 8. B 1
----------------- ----------------------------------- --------------
B 2: Financial Instruments with similar economic effect according to
DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical or Number of % of voting
instrument date (x) Conversion cash voting rights rights
Period (xi) Settlement
(xii)
------------------ ----------------- --------------- ------------------
SUBTOTAL 8.B.2
--------------- ------------------
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled X
by any natural person or legal entity and does not control any other
undertaking(s) holding directly or indirectly an interest in the
(underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional
rows as necessary) (xiv)
Name (xv) % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
------------------------------- ------------------------ ------------------------
10. In case of proxy voting, please identify:
Name of the proxy holder
--------------------------------------------------
The number and % of voting rights
held
--------------------------------------------------
The date until which the voting rights
will be held
--------------------------------------------------
11. Additional information (xvi)
Place of completion St Helier, Jersey
Date of completion 7 December 2021
------------------
TR-1: S tandard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible) (i)
1a. Identity of the issuer or the finnCap Group plc
underlying issuer of existing shares
to which voting rights are attached
(ii) :
-----------------------------------------------------------
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
------------------
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights X
------------------
An acquisition or disposal of financial instruments
------------------
An event changing the breakdown of voting rights
------------------
Other (please specify) (iii) :
------------------
3. Details of person subject to the notification obligation (iv)
Name Ogier Global Trustee (Jersey) Limited
as Trustee
of The FinnCap Group Employee Benefit
Trust
City and country of registered office St Helier, Jersey
(if applicable)
4. Full name of shareholder(s) (if different from 3.) (v)
Name
-----------------------------------------------------------
City and country of registered office
(if applicable)
-----------------------------------------------------------
5. Date on which the threshold was 7 December 2021
crossed or reached (vi) :
-----------------------------------------------------------
6. Date on which issuer notified (DD/MM/YYYY): 07/12/21
-----------------------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) held in issuer
of 8. A) (total of 8.B (8.A + 8.B)
1 + 8.B 2) (vii)
----------------------- --------------------- ---------------- ------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 6.50% 6.50% 11,560,094
----------------------- --------------------- ---------------- ------------------
Position of
previous notification
(if
applicable) 5.13% 0 5.13%
----------------------- --------------------- ---------------- ------------------
8. Notified details of the resulting situation on the date on which
the threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights % of voting rights
shares (ix)
ISIN code (if
possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
-----------------
Ordinary 11,560,094 6.50%
----------------- ----------------- ----------------------------------- --------------
SUBTOTAL 8. A
------------------------------------ ---------------------------------------------------
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion rights that may rights
(x) Period be acquired if
(xi) the instrument
is
exercised/converted.
----------------- ----------------- ----------------------------------- --------------
SUBTOTAL 8. B 1
----------------- ----------------------------------- --------------
B 2: Financial Instruments with similar economic effect according to
DTR5.3.1R (1) (b)
Type of financial Expiration Exercise/ Physical or Number of % of voting
instrument date (x) Conversion cash voting rights rights
Period (xi) Settlement
(xii)
------------------ ----------------- --------------- ------------------
SUBTOTAL 8.B.2
--------------- ------------------
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled X
by any natural person or legal entity and does not control any other
undertaking(s) holding directly or indirectly an interest in the
(underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional
rows as necessary) (xiv)
Name (xv) % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
------------------------------- ------------------------ ------------------------
10. In case of proxy voting, please identify:
Name of the proxy holder
--------------------------------------------------
The number and % of voting rights
held
--------------------------------------------------
The date until which the voting rights
will be held
--------------------------------------------------
11. Additional information (xvi)
Place of completion St Helier, Jersey
Date of completion 7 December 2021
------------------
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END
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