Issue of Equity

RNS Number : 1940L

Starvest PLC

07 January 2016

 

Thursday 7 January 2016

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

Issue of Equity

The Company is pleased to announce that it has today resolved to issue a total of 825,000 new ordinary shares of £0.01 in the Company ("Ordinary Shares") at a price of 2p per Ordinary Share to its directors in lieu of net fees for the three months ended 31 December 2015.  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	500,000	500,000	1.31%
Anthony C R Scutt  Note 1	100,000	335,000	0.88%
John Watkins Note 2	225,000	1,460,000	3.84%

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 January 2016.

Following admission, the Company's enlarged share capital will comprise 40,342,259 Ordinary Shares of which 2,300,000 are held in treasury.  Therefore the total number of Ordinary Shares with voting rights is 38,042,259. 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 7 January 2016

Enquiries to:

Callum Baxter, Chairman [e-mail] or John Watkins, Finance Director 07768 512404; [e-mail]

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100.

Nick Emerson or Andy Thacker - SI Capital Limited 01483 413500

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