01 July 2022
Lords, a leading distributor of building materials in the UK, announces that it has today been notified by Shanker Patel, the Company’s Chief Executive Officer, that on 1 July 2022 his related entities purchased an aggregate of 986,843 ordinary shares in the Company at a price of 73 pence per ordinary share.
Shanker Patel’s purchases have been conducted via the purchase of 657,895 ordinary shares by a personal investment company controlled by Shanker Patel, and by the purchase of an additional 328,948 ordinary shares by a pension fund which is controlled by Shanker Patel and other members of the Lords concert party. Details of the Lords concert party are described in full in the Company’s AIM Admission Document.
As a result, Shanker Patel is now interested, together with his children and related entities and trusts, in a maximum of an aggregate of 53,265,134* ordinary shares in the Company, representing 32.8 per cent. of the Company’s issued ordinary share capital. The members of the Lords concert party collectively hold 83,979,475 ordinary shares, representing 51.7 per cent. of the Company’s issued share capital.
The Company has also been notified that on 1 July 2022 Chris Day, Lords’ Chief Financial Officer, and a PDMR of the Company each sold 924,658 ordinary shares at a price of 73 pence per ordinary share. The notifications below, which are made in accordance with the Market Abuse Regulation, provide further details.
*including a potential interest in a conditional gift of 6,296,250 ordinary shares to Shanker Patel from a member of the concert party. Subject to the satisfaction of conditions to the gift, the gift may become unconditional on 24 June 2023.
FOR FURTHER ENQUIRIES:
|Lords Group Trading plc||Via Buchanan|
|Shanker Patel, Chief Executive Officer||Tel: +44 (0) 20 7466 5000|
|Chris Day, Chief Financial Officer|
|Cenkos Securities plc (Nominated Adviser and Joint Broker)||Tel: +44 (0)20 7397 8900|
|Ben Jeynes / Max Gould / Dan Hodkinson (Corporate Finance)|
|Alex Pollen (Sales)|
|Berenberg (Joint Broker)|
Matthew Armitt / Richard Bootle / Ciaran Walsh
|Tel: +44 (0)20 3207 7800|
|Buchanan Communications||Tel: +44 (0) 20 7466 5000|
|Henry Harrison-Topham / Stephanie Whitmore/ Kim Looringh-van Beeck / Abby Gilchrist||[email protected]|
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.
|1||Details of the person discharging managerial responsibilities/person closely associated|
|a)||Name||1. RNS Assets Limited|
2. Lords SSAS
3. Chris Day
4. Tim Holton
|2||Reason for notification|
|a)||Position/Status||1. PCA of Shanker Patel, Chief Executive Officer|
2. PCA of Shanker Patel, Chief Executive Officer
3. Chief Financial Officer
4. Group Acquisition and Integration Director
|b)||Initial notification/amendment||Initial notification|
|3||Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor|
|a)||Name||Lords Group Trading plc|
|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 and identification code||a) Ordinary shares|
|b)||Nature of transaction||1. Purchase of ordinary shares|
2. Purchase of ordinary shares
3. Sale of ordinary shares
4. Sales of ordinary shares
|c)||Price(s) and volume(s)|
|e)||Date of transaction||1. 1 July 2022|
2. 1 July 2022
3. 1 July 2022
4. 1 July 2022
|f)||Place of transaction||AIM|