First Derivatives’ CEO Brian Conlon sells 1.4m shares
The shares, at a price of 3,060 pence each, were all sold to certain existing and new institutional investors.
Further to yesterday’s announcement regarding a proposed secondary placing in First Derivatives plc (LON:FDP) by Brian Conlon, Chief Executive Officer, the Group announces that it has been notified that Mr Conlon has sold 1.4 million shares.
The shares, sold at a price of 3,060 pence each, were all sold to certain existing and new institutional investors.
The placing was conducted via an accelerated bookbuild through Goodbody Stockbrokers UC and Investec Bank plc. Mr Conlon entered into a block trade agreement with Goodbody and Investec as joint Bookrunners in relation to the Placing. He has agreed with Goodbody and Investec not to sell his remaining shares for a period of six months.
Following the Placing, Mr Conlon will hold approximately 24.5 per cent. of the voting rights of the Group.
Yesterday, First Derivatives said the diagnosis and treatment of Mr Conlon remains unchanged since the Group’s announcement on May 17, 2019. He continues in his role as Chief Executive Officer during his ongoing weekly treatment, which is expected to last a number of months.
Today, First Derivatives said it had been notified that Virginia Gambale, Non-Executive Director, has sold 7,163 shares at a price of 3,060 pence per share and that subsequent to this morning’s announcement that certain employees have exercised share options, these employees have also sold 0.2 million shares also at a price of 3,060 pence per share.
The Placing, together with the shares sold by Ms. Gambale and the employees are expected to settle on a T+4 basis, on Tuesday, 9 July 2019 subsequent to the admission of the option shares exercised by the employees. First Derivatives is not party to the Placing and will not receive any proceeds from the Placing.
