Gateley announces new five-year shares ‘lock-in’

Professional services firm Gateley has announced a five-year “orderly market agreement” which will see its shareholding partners “locked-in” to the company.

The new arrangement will begin on 8 June 2020 following the expiry of the current lock-in arrangements, which were put in place at the time of the company’s admission to AIM in June 2015.

Gateley said that, of the 81 partners who were subject to the current lock-in agreement at admission, 75 remain with the company. Of these remaining partners, 70, who, together with their respective associates, hold in aggregate 56,187,614 Ordinary Shares representing 49.4% of the total issued share capital of Gateley, have entered into the new agreement.

Michael Ward, chief executive of Gateley, said: “I am delighted with the overwhelming support partners have shown in the Group in signing the New Agreement which continues to demonstrate their long-term commitment to the Group. I believe that the New Agreement secures the continuation of a stable platform from which internal and external shareholders can invest with confidence.”