PDMR Announcement
Source: RNS
AIM: KBT
1 June 2021
K3 Business Technology Group plc
("K3", "Company" or "Group")
PDMR Announcement
K3 Business Technology Group plc received notification on 28 May 2021 from Kestrel Partners LLP ("Kestrel") that following an agreement by Kestrel to transfer its Inheritance Tax Solutions business ("KITS") to a third party, it will cease to have management control over 347,279 ordinary shares of 25p each in the Company ("Shares"). Kestrel will therefore no longer include these shares in any future notifications of its interests. In addition, it acquired, on behalf of its discretionary clients, 1,500 Shares at a price of £1.90 per share. The notification also included the matters set out below.
Mr Scott, a non-executive director of K3, is a partner of, and holds a beneficial interest in Kestrel. Mr Scott is also a shareholder in one of Kestrel's clients ("Kestrel Opportunities") and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in K3 Business Technology Group plc.
Following these transactions, Kestrel Opportunities holds (and consequently Mr Scott is deemed to have a beneficial interest in) 8,493,379 Shares in the Company, and other clients of Kestrel, in which Mr Scott has no beneficial interest hold 2,438,080 Shares in the Company.
On a combined basis, Kestrel indirectly holds voting rights over 10,931,459 Shares in the Company, which represents 24.44% per cent of the Company's issued share capital.
Kestrel's interest in the Shares in the Company is held through the following nominees:
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Holding type |
Nominee |
No. of shares |
% of issued share capital |
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Indirect |
Bank of New York Nominees Ltd |
8,493,379 |
18.99% |
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Indirect |
JIM Nominees Limited |
67,302 |
0.15% |
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Indirect |
Bank of New York Nominees Ltd |
2,370,778 |
5.30% |
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For further information contact:
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K3 Business Technology Group plc |
+44 (0) 161 876 4498 |
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Marco Verggani, CEO |
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Rob Price, CFO |
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finnCap Ltd |
+44 (0) 207 220 0500 |
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Nominated Adviser and Broker |
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Julian Blunt/James Thompson (Corporate finance) |
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Richard Chambers (Corporate Broking) |
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ANNEX
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Kestrel Partners LLP ('Kestrel')
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2
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Reason for the notification
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a)
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Position/status
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PCA - Oliver Rupert Andrew Scott (non-executive director of K3 Business Technology Group plc and Partner in Kestrel) |
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b)
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Initial notification /Amendment
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Initial |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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K3 Business Technology Group plc |
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b)
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LEI
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213800QOJ9OF2AV81748 |
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4
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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
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a)
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Description of the financial instrument, type of instrument
Identification code
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25p Ordinary Shares
ISIN: GB00B00P6061
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b)
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Nature of the transaction
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Transfer Out / Purchase |
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c)
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Price(s) and volume(s)
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d)
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Aggregated information
- Aggregated volume
- Price
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Total 347,279 Shares Transfer Out at Nil Cost
Toral purchase of 1,500 at £1.90 for value £2,850.
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e)
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Date of the transaction
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28/05/2021 |
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f)
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Place of the transaction
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London |
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