Director/PDMR Shareholding

RNS Number : 6002U

Telecom Plus PLC

03 December 2013

 

Telecom Plus PLC (the "Company")

Notifications of Transactions of Directors/ Persons Discharging Managerial Responsibility and Connected Persons

Telecom Plus PLC received notification yesterday that on Friday 29 November 2013 the Wigoder Family Foundation, a charitable trust established by Charles Wigoder, Executive Chairman of the Company, sold 69,459 ordinary shares of 5p each, and Melvin Lawson, a Non-Executive Director of the Company, sold 46,702 ordinary shares of 5p each, all at a price of £18.50 per share. These share sales took place to fund their respective participations of 87,142 shares and 58,571 shares in the open offer that was announced on 20 November 2013 in connection with the acquisition by the Company of Electricity Plus Supply Limited and Gas Plus Supply Limited.

Mr Wigoder has also notified the Company that he has today entered into an agreement to charge 325,000 of his shares in the Company as security for a loan from Barclays Bank PLC ("Barclays") to enable him to apply for 57,142 shares as part of his open offer entitlement. Under the terms of the charge, title to the 325,000 shares can be transferred, sold or otherwise dealt with by Barclays following the occurrence of a failure to pay any amount due and payable under the loan.

Mr Wigoder now has a beneficial interest in 12,931,041 shares and a non-beneficial interest in 2,980,541 shares, representing approximately 18.2 percent and 4.2 percent respectively of the total voting rights in the Company; following allocation of the shares being applied for in the open offer, he will have a beneficial interest in 12,988,183 shares and a non-beneficial interest in 3,067,683 shares. The total number of shares in which Mr Wigoder currently retains an interest is 15,911,582 shares representing approximately 22.4 percent of the total voting rights in the Company, and this will increase to 16,055,866 shares representing approximately 20.1 per cent of the total voting rights once the placing and open offer have been successfully concluded.

Mr Lawson currently retains an interest of 2,003,298 shares representing approximately 2.8 percent of the total voting rights of the Company. This will increase to 2,061,869 shares representing approximately 2.6 per cent of the total voting rights once the placing and open offer have been successfully concluded.

For further information, please contact:

Telecom Plus PLC

David Baxter

Tel: [phone]

 

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