Director/PDMR Dealings and Holding(s) in Company
30 June 2023
Lords, a leading distributor of building materials in the UK, announces that it has been notified by Shanker Patel, the Company's Chief Executive Officer, that the conditional gift of 6,296,250 ordinary shares in the Company from another member of the Lords' concert party first disclosed in the Company's AIM Admission Document dated 14 July 2021 (the "Gift") has now become unconditional and transferred into Shanker Patel's name.
As a result, Shanker Patel is now interested, together with his children and related entities and trusts, in an aggregate of 53,821,386 ordinary shares in the Company, representing 32.5 per cent. of the Company's issued ordinary share capital. With the Gift having become unconditional, the Company has also been notified that Rajen Patel is now interested in 15,204,540 ordinary shares, representing 9.2 per cent. of the Company's issued share capital.
The members of the Lords' concert party collectively hold an unchanged 84,535,727 ordinary shares in aggregate, representing 51.1 per cent. of the Company's issued share capital.
The notification below, which are made in accordance with the Market Abuse Regulation, provides further details.
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 and Chief Operating 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)||Tel: +44 (0)20 3207 7800|
|Matthew Armitt / Richard Bootle / Detlir Elezi|
Tel: +44 (0) 20 7466 5000
|Henry Harrison-Topham / Jamie Hooper / Abby Gilchrist||[email protected]|
Notes to editors:
Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public. The Group operates through the following two divisions:
- Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 26 locations in the UK.
- Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering. The division operates over 16 locations enabling nationwide next day delivery service.
Lords was established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Group has grown to a business operating from 42 sites. Lords aims to become a £500 million turnover building materials distributor group by 2024 as it grows its national presence.
Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L. For additional information please visit www.lordsgrouptradingplc.co.uk.
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.
Details of the person discharging managerial responsibilities/person closely associated
1. Shanker Patel
Reason for notification
1. Chief Executive Officer
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Lords Group Trading plc
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
Description of the financial instrument, type of instrument and identification code
a) Ordinary shares
Nature of transaction
Purchase of ordinary shares
Price(s) and volume(s)
Date of transaction
1. 30 June 2023
Place of transaction