An insider is an employee or a third party adviser, who has access to non-public information that might affect our share price. All Directors of Stitch are classified as insiders. Whenever your role gives you access to non-public information, you are also classed as an insider and will be named on an insider list until the information is made public.
There’s a standard definition of inside information, which is any information that:
Is not generally available; and
Would be likely to be regarded by a reasonable investor as being information which would be likely to have any effect on the price of Stitch shares, if made generally available.
So, in short, any information that would mean you know more than the market at the time you decide to buy or sell shares.
Information counts as public once it’s been announced officially or once anyone who wants to buy or sell Stitch shares (and is not an insider) can find it.
Insider dealing is when you use inside information to help you decide whether to buy or sell shares in Stitch. You can only make trading decisions using information that any other trader can also access. You also must not share inside information with non-insiders as you can be held responsible if they buy or sell shares because of the information.
PDMR stands for Person Discharging Managerial Responsibility. It’s a Director of Stitch who has regular access to inside information and can make decisions that affect our future development and business prospects.
It’s someone who is responsible in their area of the business for identifying who has access to inside information and informing them of their responsibilities.
This is the full legal definition: A connected person includes a spouse, civil partner, child or step-child; a connected company (where you and/or the person(s) connected with you control, or can exercise, more than 20% of the voting power in general meeting or are interested in at least 20% (in nominal value) of the shares comprised in the equity share capital); the trustee of a trust (excluding a Stitch share scheme or pension scheme) of which the beneficiaries or potential beneficiaries include yourself, your spouse or any of your children or step-children aged under 18 years, any relative who has shared the same household with you for at least 12 months or any body corporate which you or any connected person identified above is a director or senior executive who has power to make management decisions.
A close period is always the 60 days just before we make our financial announcements to the stock market. We may also declare a close period at other times if it is our view that there exists inside information relating to Stitch that may have been widely disseminated within Stitch.
There’s a calendar of close periods permanently displayed on this website and the intranet will also indicate whether we are in an open or close period. You should plan your share trades around these close periods as, generally speaking, you cannot trade at all during them.