Issue of Equity

RNS Number : 1042Y

Starvest PLC

12 May 2016

 

Thursday 12 May 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 733,332 new ordinary shares of £0.01 in the Company ("Ordinary Shares") at a price of 2.25p per Ordinary Share to its directors in lieu of net fees for the three months ended 31 March 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	444,444	944,444	2.44%
Anthony C R Scutt  Note 1	88,888	423,888	1.09%
John Watkins Note 2	200.000	1,660,000	4.28%

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 19 May 2016.

Following admission, the Company's enlarged share capital will comprise 38,775,591 Ordinary Shares.  The Company has no shares in treasury, therefore the total number of Ordinary Shares with voting rights is 38,775,591. 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 12 May 2016

Enquiries to:

Callum Baxter, Chairman [e-mail] or John Watkins, Finance Director 07768 512 404; [e-mail]

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

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

 

END

 

 

IOEZMGMKFZNGVZM