Exercise of Options

RNS Number : 3696P

K3 Business Technology Group PLC

24 October 2012

 



AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

('K3' or 'the Company')

Exercise of Options

K3 announces that application has been made for the admission of 90,000 new ordinary shares of 25p each ("Ordinary Shares") in the Company following the exercise of options over Ordinary Shares by two directors of the Company, as set out below, under the K3 Business Technology Group Executive Share Option Scheme 2000.  

·      Mr David Bolton, Chief Finance Officer, has exercised options to subscribe for 40,000 new Ordinary Shares at an exercise price of 62.5p per share; and

·      Mr Nigel Andrew Makeham, Chief Executive Officer, has exercised options to subscribe for 50,000 new Ordinary Shares at an exercise price of 62.5p per share.

Subsequent to the above, Mr Bolton is interested in 978,476 Ordinary Shares (representing 3.43% of the Company's issued share capital) and Mr Makeham is interested in 954,424 Ordinary Shares (representing 3.34% of the Company's issued share capital).  

It is expected that Mr Bolton and Mr Makeham will sell such number of Ordinary Shares as are required to recover the exercise costs incurred and tax liabilities arising on the exercise of these share options. A further announcement regarding this will be made in due course.

The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.  Admission of the 90,000 new Ordinary Shares is expected to be effective from 30 October 2012. Following Admission, the total issued share capital of the Company will be 28,571,841 Ordinary Shares of 25p each. The Company holds no Ordinary Shares in treasury.

For further information:

K3 Business Technology Group plc	Andy Makeham, Chief Executive David Bolton, Chief Finance Officer	T: 0161 876 4498
finnCap Limited (NOMAD)	Marc Young / Henrik Persson	T: 020 7220 0500
Biddicks	Katie Tzouliadis / Sophie McNulty	T: 020 3178 6378

 

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