Result of Secondary Placing
InvestAcc Group Limited announced the successful completion of a secondary placing of 6,150,911 ordinary shares at 170 pence per share, raising £10,456,549 gross proceeds. This placing, which was oversubscribed and involved directors acquiring approximately £0.12 million in shares, is in connection with the proposed disposal of Vesta Wealth Limited and InvestAcc Limited to Edengate Wealth Group Limited, a company owned by Nick Gardner, who has sold all his shares. The company will not receive any proceeds from this placing, which represents approximately 12.5% of its issued share capital.
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InvestAcc Group Limited ("InvestAcc", the "Company" or, together with its subsidiaries, the "Group"), a leading UK specialist pensions administrator, announces the results of the placing of ordinary shares of the Company (“Ordinary Shares”) announced yesterday (the "Placing").
Nick Gardner has sold 6,150,911 Ordinary Shares (the "Placing Shares") at a price of 170 pence per share (the "Placing Price"), raising gross proceeds of £10,456,549.
Panmure Liberum acted as Sole Bookrunner and Broker in connection with the Placing.
The Placing was oversubscribed, attracting strong demand from both new and existing institutional investors and broadening the Company's shareholder base. The Placing Shares represent, in aggregate, approximately 12.5% of the Company's issued share capital.
As part of the Placing, Mark Hodges, Will Self, Giovanni Castagno, Helen Copinger-Symes and Martin Potkins, directors of the Company (together, the "Participating Directors") acquired, in aggregate, 68,290 Ordinary Shares at the Placing Price, representing an aggregate purchase of approximately £0.12 million (the "Directors' Participation").
The notifications below, made in accordance with the requirements of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and as modified by or under the European Union (Withdrawal) Act 2018 or other domestic law, provide further detail regarding the sale of Mr Gardner’s Placing Shares and the participation of the Participating Directors in the Placing.
Following completion of the Placing, Mr Gardner will no longer be a shareholder in the Company.
The Company is not issuing any new shares in connection with the Placing and will not receive any proceeds from it.
As announced yesterday, the Placing was conducted in connection with the proposed disposal of Vesta Wealth Limited (“Vesta”) and InvestAcc Limited (“IAL”) to Edengate Wealth Group Limited ("Edengate"), a company owned by Mr Gardner. The transaction will enable Vesta and IAL to continue under Mr Gardner's leadership, providing continuity for customers and employees while delivering value for shareholders. Completion of the disposals remains conditional upon receipt of change of control approval from the Financial Conduct Authority which is expected by early 2027.
Mark Hodges, Executive Chairman of InvestAcc, commented:
“This disposal demonstrates our focus on the specialist pensions administration sector. With this transaction, InvestAcc is well positioned to execute its strategy, invest in organic growth and pursue selective acquisition opportunities in our core market. We are pleased to have found a strong long-term owner in Edengate and Nick Gardner. I am also pleased that the secondary sale of shares brings additional liquidity to the Company shares and I am grateful for the support of existing investors and delighted to welcome a number of new high profile institutional investors to the Company’s register of shareholders."
Company Secretary: + 44 (0) 207 004 2700
Antoinette Vanderpuije
Camarco (PR Adviser): + 44 (0) 203 757 4980
Ed Gascoigne-Pees / Phoebe Pugh
KK Advisory (IR Adviser): + 44 (0) 207 039 1901
Kam Bansil
Panmure Liberum Limited (Corporate Broker): + 44 (0) 203 100 2000
Chris Clarke / Ed Thomas / Piers Shimwell
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Giovanni Castagno | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| a) | Name | InvestAcc Group Limited | ||||
| b) | LEI | 2549008KZ7HM27V4O637 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value VGG5877D1033 | ||||
| b) | Nature of the transaction | Purchase of shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information — Aggregated volume — Price | n/a | ||||
| e) | Date of the transaction | 9 October 2026 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Helen Copinger-Symes | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| a) | Name | InvestAcc Group Limited | ||||
| b) | LEI | 2549008KZ7HM27V4O637 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value VGG5877D1033 | ||||
| b) | Nature of the transaction | Purchase of shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information — Aggregated volume — Price | n/a | ||||
| e) | Date of the transaction | 9 October 2026 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Nicholas Gardner | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Person discharging managerial responsibilities | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| a) | Name | InvestAcc Group Limited | ||||
| b) | LEI | 2549008KZ7HM27V4O637 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value VGG5877D1033 | ||||
| b) | Nature of the transaction | Sale of shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information — Aggregated volume — Price | n/a | ||||
| e) | Date of the transaction | 9 October 2026 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Mark Hodges | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chairman | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| a) | Name | InvestAcc Group Limited | ||||
| b) | LEI | 2549008KZ7HM27V4O637 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value VGG5877D1033 | ||||
| b) | Nature of the transaction | Purchase of shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information — Aggregated volume — Price | n/a | ||||
| e) | Date of the transaction | 9 October 2026 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Martin Potkins | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| a) | Name | InvestAcc Group Limited | ||||
| b) | LEI | 2549008KZ7HM27V4O637 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value VGG5877D1033 | ||||
| b) | Nature of the transaction | Purchase of shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information — Aggregated volume — Price | n/a | ||||
| e) | Date of the transaction | 9 October 2026 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Will Self | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| a) | Name | InvestAcc Group Limited | ||||
| b) | LEI | 2549008KZ7HM27V4O637 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of no par value VGG5877D1033 | ||||
| b) | Nature of the transaction | Purchase of shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information — Aggregated volume — Price | n/a | ||||
| e) | Date of the transaction | 9 October 2026 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) |
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