AIM: KBT
8 April 2024
K3 Business Technology Group plc
("K3", "Company" or "Group")
PDMR Announcement
K3, which provides business ‐ critical software solutions focused on fashion and apparel brands, has received notification from Kestrel Partners LLP ("Kestrel") that on 5 April 2024 it acquired, on behalf of its discretionary clients, 28,924 ordinary shares of 25p each ("Shares") in the Company at an average price of £1.0559 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 4,305,558 Shares in the Company.
On a combined basis, Kestrel indirectly holds voting rights over 12,872,026 Shares in the Company, which represents 28.78% 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 1,305,179 |
6.00% 2.92% |
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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 |
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| Cavendish Capital Markets Limited |
+44 (0) 207 220 0500 |
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| Nominated Adviser and Broker |
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| Julian Blunt/Dan Hodkinson (Corporate Finance) |
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| Sunila de Silva/Harriet Ward (Corporate Broking) |
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| KTZ Communications |
+44 (0) 20 3178 6378 |
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| Katie Tzouliadis/Dan Mahoney |
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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 |
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| a) |
Name |
Kestrel Partners LLP ('Kestrel') |
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| 2 |
Reason for the notification |
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| a)
|
Position/status
|
PCA - Oliver Rupert Andrew Scott (non-executive director of K3 Business Technology Group plc and Partner in Kestrel) |
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| b)
|
Initial notification /Amendment |
Initial |
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| 3
|
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
| a) |
Name |
K3 Business Technology Group plc |
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| b) |
LEI |
213800QOJ9OF2AV81748 |
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| 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 |
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| a)
|
Description of the financial instrument, type of instrument
Identification code |
25p Ordinary Shares
ISIN: GB00B00P6061 |
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| b) |
Nature of the transaction |
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 |
Total purchase of 28,924 at an average of £1.0559 per Share
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| e)
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Date of the transaction |
5 April 2024 |
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| f)
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Place of the transaction |
London Stock Exchange, AIM Market (XLON) |
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