Exercise of options & Director's dealings

RNS Number : 5487T

K3 Business Technology Group PLC

06 October 2014

 



KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

('K3' or 'the Company')

Exercise of Options & Director's Dealings

K3 announces that application has been made for the admission to trading on AIM ("Admission") of a total of 64,000 new ordinary shares of 25p each ("Ordinary Shares" and the "New Ordinary Shares") in the Company following the exercise of share options by an employee and also by a director of the Company, as set out below, under the K3 Business Technology Group Executive Share Option Scheme 2000:

·      Mr David Bolton, Chief Executive Officer, has exercised options to subscribe for 50,000 new Ordinary Shares at an exercise price of 94.0p. per share.

Mr Bolton has subsequently issued an instruction to sell, after Admission is effective, 45,000 Ordinary Shares, predominantly to cover the exercise costs incurred and tax liabilities arising. This disposal will be notified separately. Subsequent to the issue of these new Ordinary Shares but prior to the sales set out above, Mr Bolton is interested in 1,026,936 Ordinary Shares (representing 3.23% of the Company's issued share capital, as enlarged by the issue of the New Ordinary Shares).

The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.  Admission is expected to be effective from 10 October 2014. Following Admission, the total issued share capital of the Company will be 31,786,997 Ordinary Shares of 25p each. The Company holds no Ordinary Shares in treasury.

For further information:

K3 Business Technology		David Bolton, Chief Executive		T: 0161 876 4498
Group plc		Brian Davis, Chief Financial Officer
finnCap Limited (NOMAD)		Julian Blunt / Henrik Persson		T: 020 7220 0500
KTZ Communications		Katie Tzouliadis / Deborah Walter		T: 020 3178 6378

 

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