Waterlogic PLC Director's Dealing (2950L)
July 03 2014 - 2:01AM
UK Regulatory
TIDMWTL
RNS Number : 2950L
Waterlogic PLC
03 July 2014
Date: 3 July 2014
On behalf of: Waterlogic Plc
Waterlogic Plc
Director's Dealing
Waterlogic Plc (AIM: WTL.L), a leading designer, assembler and
global distributor of point-of-use ("POU") drinking water
purification and dispensing systems, announces that on 2 July 2014
it received notification from Ariel Recanati, Non-Executive
Chairman of the Company, and Tal Recanati, wife of Ariel Recanati,
that they have undertaken certain transfers of their ordinary
shares in the Company which constitute a dealing in the Company's
shares for the purposes of the AIM Rules.
Prior to the transfers, Logiceau Company, LLC ("Logiceau 1"),
Logiceau Company 2, LLC ("Logiceau 2"), Logiceau Company 3, LLC
("Logiceau 3") and Logiceau Company 4 ("Logiceau 4") held a 24.99
per cent interest in the ordinary shares of the Company. Logiceau 1
is a family operated company owned equally by family trusts for the
benefit of Ariel's and Tal Recanati's immediate family members.
Logiceau 2 is also a family operated company owned equally by
grantor retained annuity trusts ("2012 GRATs") established by Ariel
and Tal Recanati for the benefit of their family. Logiceau 3 is
also a family operated company owned equally by grantor retained
annuity trusts ("2013 GRAT #1s") established by each of Ariel and
Tal Recanati for the benefit of their family. Logiceau 4 is also a
family operated company owned equally by grantor retained annuity
trusts ("2013 GRAT #2s") established by each of Ariel and Tal
Recanati for the benefit of their family.
The transfers comprised a distribution of ordinary shares in the
Company by Logiceau 3 to each of their respective 2013 GRAT #1s and
then from each 2013 GRAT #1 to Ariel and Tal Recanati,
respectively. Such shares were ultimately transferred to a newly
formed entity, Logiceau Company 5, LLC ("Logiceau 5"). Logiceau 5
is also a family operated company owned equally by Ariel and Tal
Recanati.
After the transfers, Logiceau 1 holds 11,180,165 ordinary shares
in the Company (representing a 14.39 per cent interest in the
Company), Logiceau 2 holds 1,078,238 ordinary shares in the Company
(representing a 1.39 per cent interest in the Company), Logiceau 3
holds 2,887,424 ordinary shares in the Company (representing a 3.72
per cent interest in the Company), Logiceau 4 holds 1,371,396
ordinary shares in the Company (representing a 1.77 per cent
interest in the Company) and Logiceau 5 holds 2,896,914 ordinary
shares in the Company (representing a 3.73 per cent interest in the
Company), such that Logiceau 1, Logiceau 2, Logiceau 3, Logiceau 4
and Logiceau 5 in aggregate hold a 24.99 per cent interest in the
ordinary shares in the Company. After the transfers, beneficial
ownership of the ordinary shares in the Company continues to be
held by trusts for the benefit of Ariel and Tal Recanati and their
immediate family members and by Ariel and Tal Recanati
individually. No consideration was paid by any party for these
transfers.
Under the terms of the 2012 GRATs, a further transfer comprising
a distribution of ordinary shares in the Company by Logiceau 2 is
expected to occur between 13 September 2014 and 272 December
2014.
Under the terms of the 2013 GRAT #2s, two further transfers
comprising a distribution of ordinary shares in the Company by
Logiceau 4 are expected to occur; the first between 16 September
2014 and 30 December 2014, and the second between 16 September 2015
and 30 December 2015.
Under the terms of the 2013 GRAT #1s, a further transfer
comprising a distribution of ordinary shares in the Company by
Logiceau 3 are expected to occur between 21 June 2015 and 4 October
2015.
Enquiries:
Waterlogic Plc Via Redleaf Polhill
Jeremy Ben-David, Group Chief Executive
Officer
Liberum Capital (Nominated Adviser and Tel: +44 (0)203 100 2000
Broker)
Steve Pearce
Richard Bootle
Redleaf Polhill Tel: +44 (0)207 382 4730
Rebecca Sanders Hewett / David Ison waterlogic@redleafpr.com
Information on Waterlogic Plc
Waterlogic (AIM: WTL.L) is a leading designer, assembler,
distributor and operator of mains attached point-of-use ("POU")
drinking water purification and dispensing systems designed for
environments such as offices, factories, hospitals, hotels,
schools, restaurants and other workplaces. Waterlogic is a Jersey
registered company.
Website: www.waterlogic.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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