Volta Finance Limited (LON:VTA) has announced that it has purchased 4,071 ordinary shares of no par value in the Company at an average price of €4.05 per share.
Each director receives 30% of his Director’s fees for any year in the form of shares, which they are required to retain for a period of no less than one year from their respective date of issue.
The shares will be issued to the Directors, who for the purposes of Regulation (EU) No 596/2014 on Market Abuse are “persons discharging managerial responsibilities”:
- Paul Meader, Chairman and a PDMR for the purposes of MAR, acquired 1,234 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mr Meader & persons closely associated with Mr Meader will have an interest in 41,832 Ordinary Shares, representing 0.11% of the issued shares of the Company;
- Paul Varotsis, Director and a PDMR for the purposes of MAR, acquired 863 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mr Varotsis will have an interest in 208,394 Ordinary Shares, representing 0.57% of the issued shares of the Company;
- Steve Le Page, Director and a PDMR for the purposes of MAR, acquired 1,049 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mr Le Page will have an interest in 36,297 Ordinary Shares, representing 0.10% of the issued shares of the Company;
- Graham Harrison, Director and a PDMR for the purposes of MAR, acquired 925 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mr Harrison will have an interest in 20,150 Ordinary Shares, representing 0.06% of the issued shares of the Company;
Volta Finance investment objectives are to preserve capital across the credit cycle and to provide a stable stream of income to its shareholders through dividends. Volta seeks to attain its investment objectives predominantly through diversified investments in structured finance assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; and, automobile loans. The Company’s approach to investment is through vehicles and arrangements that essentially provide leveraged exposure to portfolios of such underlying assets. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.
