Exercise of Options & Director's Interest

RNS Number : 6567E

Jarvis Securities plc

11 April 2014

 



JARVIS SECURITIES PLC

("Jarvis" or "the Company")

Exercise of Options & Director's Interest

Application has been made for the admission to AIM of 124,000 new ordinary shares of 1p each in the Company ("Ordinary Shares"), pursuant to the exercise of options by Mr. Andrew Grant and an employee of the Company. Mr. Grant has exercised 123,500 options which were due to expire later this year, with a further employee of the Company exercising 500 options. The new Ordinary Shares rank par passu with the Company's existing issued Ordinary Shares, and dealings are expected to commence on or around 17 April 2014.

Following Admission, the Company's enlarged issued share capital will comprise 11,013,000 Ordinary Shares. The Company holds zero shares in treasury. Therefore the total number of Ordinary Shares with voting rights is 11,013,000, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Simultaneously Jarvis was informed on 10 April 2014, that on that day, Mr. Grant sold 123,500 Ordinary Shares in Jarvis at a price of 500p. Mr. Grant sold the shares in order to match significant institutional demand in the market.

Following these transactions, Mr. Grant's total interest in the Company (comprising the holdings of Sion, a company in which Mr.Grant has a controlling interest, Mr Andrew Grant's SIPP and Mr. Grant's spouse) is 5,733,150 Ordinary Shares, will represent approximately 52.1% of the Company's 11,013,000 voting rights.

Also, on 10 April 2014, Mr Nick Crabb informed the Company that on that day he agreed to sell 100,000 shares, at 500p, on delayed settlement. These shares were also sold in order to match significant institutional demand in the market. Settlement is expected to occur on or around 13 May 2014 following an exercise of options by Mr Crabb. A further announcement regarding an exercise of options by Mr Crabb, application for admission of new shares, Mr Crabb's interest in the Company's enlarged issued share capital and the total voting rights of the Company,  will be made in due course.

Enquiries:

Jarvis Securities plc                            01892 510 515

Andrew Grant 

Jolyon Head                                       

WH Ireland Limited                             0113 3946619

Andrew Kitchingman

James Bavister

 

END

 

 

RDSGGUQPCUPCGGG