RNS Number : 6596B
K3 Business Technology Group PLC
23 August 2024
 

AIM: KBT

23 August 2024

 

K3 Business Technology Group plc

("K3", "Company" or "Group")

PDMR Announcement

K3, which provides businesscritical software solutions focused on fashion and apparel brands, has received notification from Kestrel Partners LLP ("Kestrel") that on 23 August 2024 it acquired, on behalf of its discretionary clients, 25,000 ordinary shares of 25p each ("Shares") in the Company at an average price of £0.7014 per Share.

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 the Company.

Following these transactions, Kestrel Opportunities holds (and consequently Mr Scott is deemed to have a beneficial interest in) 8,566,468 Shares in the Company, and other clients of Kestrel, in which Mr Scott has no beneficial interest, hold 4,350,611 Shares in the Company.

On a combined basis, Kestrel indirectly holds voting rights over 12,917,079 Shares in the Company, which represents 28.88% per cent of the Company's issued share capital.

Kestrel's interest in the Shares in the Company is held through the following nominees:

Holding type

Nominee

No. of shares

% of issued share capital

Indirect

Bank of New York Nominees Ltd

8,566,468

19.15%

Indirect

JIM Nominees Limited

316,376

0.71%

Indirect

Indirect

Bank of New York Nominees Ltd

Northern Trust Company AVFC

2,684,003

1,350,232

6.00%

3.02%









Further details in respect of the purchase are provided below, in accordance with the EU Market Abuse Regulation (No 596/2014).

 

For further information contact:

K3 Business Technology Group plc

+44 (0) 161 876 4498

Eric Dodd, CFO




Cavendish Capital Markets Limited

+44 (0) 207 220 0500

Nominated Adviser and Broker


 

Julian Blunt/Dan Hodkinson (Corporate Finance)


 

Sunila de Silva/Harriet Ward (Corporate Broking)


 



 

KTZ Communications

+44 (0) 20 3178 6378

 

Katie Tzouliadis/Dan Mahoney


 

 

 

 

ANNEX

 

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kestrel Partners LLP ('Kestrel')

2

Reason for the notification

a)

 

Position/status

 

PCA - Oliver Rupert Andrew Scott (non-executive director of K3 Business Technology Group plc and Partner in Kestrel)

b)

 

Initial notification /Amendment

Initial

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

K3 Business Technology Group plc

b)

LEI

213800QOJ9OF2AV81748

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

 

Identification code

25p Ordinary Shares

 

 

 

ISIN: GB00B00P6061

b)

Nature of the transaction

Purchase

c)

 

Price(s) and volume(s)

 

 

23 August 2024

Price(s)

Volume(s)

£0.7014

25,000 shares

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

Total purchase of 25,000 at an average of £0.7014 per Share

 

 

 

e)

 

Date of the transaction

23 August 2024

f)

 

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

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