Mitie directors increase shareholdings ahead of OCS acquisition
Two Mitie Group directors bolstered their shareholdings prior to OCS Group's cash acquisition recommendation. Simon Kirkpatrick exercised 1.39 million share options on August 19, under the company's Enhanced Delivery Plan, granted in 2021 for the acquisition of Interserve Facilities Management. Kirkpatrick's shareholding subsequently rose to 1.59 million shares after selling 656,219 shares to cover tax liabilities.
Phil Bentley, meanwhile, purchased 72 Mitie shares on August 17 at 207.6 pence per share, with an additional 36 shares awarded at no cost, bringing his total ownership to 18.44 million shares. OCS announced its recommended acquisition of Mitie on July 21, with the circular for the acquisition distributed to Mitie shareholders on August 13.
The acquisition was supported by irrevocable undertakings from Mitie directors, covering a combined 20.69 million shares, or roughly 1.59% of the company's issued share capital, as of August 24. The acquisition will be executed via a scheme of arrangement under Part 26 of the Companies Act 2006.
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