12 December 2024
B.P. Marsh & Partners
Plc
("B.P. Marsh" or the
"Company")
PDMR and Director
Dealings
B.P. Marsh (AIM: BPM), the
specialist investor in early-stage financial services
businesses, has been notified of the sale of Ordinary Shares
of 10p each in the Company ("Ordinary Shares") on 11 December 2024
at the open market price of 740p per share by Ms. Alice Foulk,
Managing Director, Mr. Dan Topping, Chief Investment Officer and
Ms. Francesca Chappell, Chief Finance Officer. The Ordinary
Shares sold were held under the B.P. Marsh Joint Share Ownership
Plan (the "JSOP") ("JSOP Shares").
The JSOP was established on 13 June
2018 and announced by the Company on the same date. On this date
the Employee Participants entered into individual Joint Ownership
Agreements ("JOAs") with JTC Employer Solutions Trustee Limited
(formerly RBC Cees Trustee Limited) (the "EBT") as part of the
Company's remuneration and staff incentive arrangements.
The beneficial interests in the JSOP
Shares are jointly held between the relevant employee and the EBT.
The terms of the JOAs included a minimum vesting period of three
years and, subject to the Employee Participant remaining employed
for this duration, state that upon sale of the vested shares the
proceeds of sale will be divided between the joint owners so that
the EBT receives 312.6p per share (which represents the Initial
Threshold Value of 281p plus a hurdle amount of 3.75% per annum
during the vesting period) and the Employee Participant is entitled
to the balance of 427.4p per share. The JOAs matured as fully
vested on 13 June 2021 and Ms. Foulk, Mr. Topping and Ms. Chappell
have now partially exercised their right to sell 30,000 JSOP Shares
in aggregate.
Alice Foulk has sold 10,000 Ordinary
Shares for a price of 740p per share. As a result of the
transaction, Alice's beneficial interest in the Company is as
follows:
|
Ordinary Shares held under
SOP(1)
|
260,000
|
|
Ordinary Shares held under
JSOP
|
80,415
|
|
Ordinary Shares held
directly
|
23,428
|
|
Ordinary Shares held under
SIP(2)
|
15,362
|
|
Total
|
379,205
|
|
Shareholding Percentage
|
1.02%
|
Dan Topping has also sold 10,000
Ordinary Shares for a price of 740p per share. As a result of
the transaction, Dan's beneficial interest in the Company is as
follows:
|
Ordinary Shares held under
SOP(1)
|
220,000
|
|
Ordinary Shares held under
JSOP
|
157,465
|
|
Ordinary Shares held
directly*
|
142,281
|
|
Ordinary Shares held under
SIP(2)
|
15,949
|
|
Total
|
535,695
|
|
Shareholding Percentage
|
1.45%
|
* including 11,434 shares owned by
his wife Claire Cronin and 1,758 shares owned by his daughter
Felicity Topping
Francesca Chappell has also sold
10,000 Ordinary Shares for a price of 740p per share. As a
result of the transaction, Francesca's beneficial interest in
the Company is as follows:
|
Ordinary Shares held under
SOP(1)
|
137,500
|
|
Ordinary Shares held under
JSOP
|
76,104
|
|
Ordinary Shares held under
SIP(2)
|
15,362
|
|
Ordinary Shares held
directly
|
587
|
|
Total
|
229,553
|
|
Shareholding Percentage
|
0.62%
|
Notes:
(1) The Company
established a Share Option Plan ("SOP") for certain employees and
directors, as announced on 20 November 2023.
(2) The Company also
established an HMRC approved Share Incentive Plan ("SIP") during
the year to 31 January 2017.
The information below, set out in
accordance with the requirements of the EU Market Abuse Regulation,
provides further detail.
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
|
Alice Foulk
|
|
2
|
Reason for notification
|
|
a)
|
Position / status
|
Managing Director, PDMR
|
|
b)
|
Initial notification /
amendment
|
Initial
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
B.P. Marsh & Partners
Plc
|
|
b)
|
LEI
|
2138008G8EPE3HAHEM13
|
|
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
|
Ordinary shares of 10
pence each
|
|
|
Identification code
|
ISIN: GB00B0XLRJ79
|
|
b)
|
Nature of the transaction
|
Sale of Ordinary Shares
|
|
c)
|
Price(s) and volumes(s)
|
|
Price(s)
£7.40
|
Volume(s)
10,000
|
|
|
|
|
|
d)
|
Aggregated information
|
N/A
|
|
e)
|
Date of the transaction
|
24-12-11
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
(XLON)
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Daniel Topping
|
|
2
|
Reason for notification
|
|
a)
|
Position / status
|
Chief Investment Officer,
PDMR
|
|
b)
|
Initial notification /
amendment
|
Initial
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
B.P. Marsh & Partners
Plc
|
|
b)
|
LEI
|
2138008G8EPE3HAHEM13
|
|
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
|
Ordinary shares of 10
pence each
|
|
|
Identification code
|
ISIN: GB00B0XLRJ79
|
|
b)
|
Nature of the transaction
|
Sale of Ordinary Shares
|
|
c)
|
Price(s) and volumes(s)
|
|
Price(s)
£7.40
|
Volume(s)
10,000
|
|
|
|
|
|
d)
|
Aggregated information
|
N/A
|
|
e)
|
Date of the transaction
|
24-12-11
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
(XLON)
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Francesca Chappell (née
Lowley)
|
|
2
|
Reason for notification
|
|
a)
|
Position / status
|
Chief Finance Officer,
PDMR
|
|
b)
|
Initial notification /
amendment
|
Initial
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
B.P. Marsh & Partners
Plc
|
|
b)
|
LEI
|
2138008G8EPE3HAHEM13
|
|
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
|
Ordinary shares of 10
pence each
|
|
|
Identification code
|
ISIN: GB00B0XLRJ79
|
|
b)
|
Nature of the transaction
|
Sale of Ordinary Shares
|
|
c)
|
Price(s) and volumes(s)
|
|
Price(s)
£7.40
|
Volume(s)
10,000
|
|
|
|
|
|
d)
|
Aggregated information
|
N/A
|
|
e)
|
Date of the transaction
|
24-12-11
|
|
f)
|
Place of the transaction
|
London Stock Exchange, AIM
(XLON)
|
|
For further information, please
visit www.bpmarsh.co.uk
or contact:
|
|
B.P. Marsh & Partners Plc
Brian Marsh OBE / Alice
Foulk
|
+44 (0)20 7233 3112
|
|
Nominated Adviser & Joint Corporate
Broker:
Panmure Liberum Limited
Atholl Tweedie / Amrit Mahbubani /
Ailsa MacMaster
|
+44 (0)20 78862500
|
|
Joint Corporate Broker:
Singer Capital Markets Advisory LLP
Charles Leigh Pemberton / James Moat
/ Asha Chotai
|
+44 (0)20 7496 3000
|
|
Financial PR & Investor Relations:
Tavistock
Simon Hudson / Katie
Hopkins
|
bpmarsh@tavistock.co.uk
+44 (0)20 7920 3150
|
Notes to Editors:
B.P. Marsh's current portfolio
contains seventeen companies. More detailed descriptions of the
portfolio can be found at www.bpmarsh.co.uk.
Since formation over 30 years ago,
the Company has assembled a management team with considerable
experience both in the financial services sector and in managing
private equity investments. Many of the directors have worked with
each other in previous roles, and all have worked with each other
for over ten years.
- Ends
-