Issue of Equity, TVR and Directors' Holdings

RNS Number : 7154D
Starvest PLC
08 July 2016
 

Friday 8 July 2016

 

 

 

Starvest Plc ("Starvest" or "the Company")

Issue of Equity, Total Voting Rights and Directors' Holdings

 

The Company is pleased to announce that it has today resolved to issue a total of 942,855 new ordinary shares of £0.01 in the Company ("Ordinary Shares") at a price of 1.75p per Ordinary Share to its directors in lieu of a proportion of fees for the three months ended 30 June 2016.  The issue of new Ordinary Shares to directors is in accordance with the Company's enhanced focus on limiting the outflow of cash from the business at this time, thereby preserving cash for investment opportunities as they present themselves.

The following table shows the number of new Ordinary Shares issued to each director and their resultant total holdings:

Director name

Number of ordinary shares issued

Interest in enlarged issued share capital

% of enlarged share capital

Callum N Baxter

571,428

1,515,872

3.83%

Anthony C R Scutt  Note 1

114,285

538,173

1.36%

John Watkins

Note 2

257,142

1,917,142

4.84%

 

Note 1:  Includes 124,000 ordinary shares held as joint trustee of investor groups.

Note 2:  Includes 1,200,000 ordinary shares held by his wife, Mrs Diane Mary Watkins.

Application will be made for the new shares to be admitted to trading on AIM with admission expected to take place on or around 15 July 2016.

Following admission, the Company's enlarged share capital will comprise 39,618,446 Ordinary Shares.  Therefore the total number of Ordinary Shares with voting rights is 39,618,446.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

 

 

Callum N Baxter

Chairman & Chief Executive

8 July  2016

 

 

 

Enquiries to:

Callum Baxter, Chairman cbaxter@starvest.co.uk or John Watkins, Finance Director 07768 512 404; jwatkins@starvest.co.uk

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 02073 835 100

Nick Emerson or Andy Thacker - SI Capital Limited 01483 413 500

                                                                      


This information is provided by RNS
The company news service from the London Stock Exchange
 
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