Web-Angel PLC
1 November 2000
web-angel plc
The Board of web-angel plc ('web-angel' or the 'Company') wishes to clarify
the beneficial holdings of its directors in the Company's ordinary shares and
the lock-in arrangements that apply to the Company.
The beneficial interests of the directors in the Company's ordinary shares
are:
Director Percentage Current
Number of of issued percentage
ordinary ordinary Current of issued
shares held share number of ordinary
at Admission capital at ordinary share
Admission shares held capital
Nicholas J 209,812 0.16 259,812 0.20
Tamblyn
Christopher D 3,629,909 2.80 3,629,909 2.80
Eyles
Christopher D 29,039,282 22.40 29,039,282 22.40
Outram(1)
(1) 29,039,281 of these shares are held by Circle Investments Limited as
nominee for OC&C Strategy Consultants Limited Partnership and the remaining
share is held by Second Circle Limited as nominee for OC&C Strategy
Consultants Limited Partnership. Christopher Outram is a limited partner in
OC&C Strategy Consultants Limited Partnership.
Christopher G Stainforth has no beneficial interest in any of the shares held
by Circle Investments Limited as nominee for BGL Reads Trust Company, the
trustee of the Ermgassen Trust and the Ziwagi Trust. Whilst he is a potential
beneficiary of the Ermgassen & Co Limited Employee Benefit Trust, whose
shares in web-angel are held by Circle Investments Limited as nominee for
Norland Trustees Limited, the trustee of the Ermgassen & Co Limited Employee
Benefit Trust, no award had been made by this trust in favour of Mr
Stainforth at the date of Admission and therefore he has no beneficial
interest in this trust.
Further to the lock-in arrangements set out in the admission document dated
15 May 2000 and following consultation with the London Stock Exchange, the
Company has undertaken that it will not grant consent to the disposal of any
interest in the shares of the Company held by the trustees of the Ermgassen
Trust, the Ziwagi Trust and the Ermgassen & Co Limited Employee Benefit Trust
nor OC&C Strategy Consultants Limited Partnership. This undertaking will
continue to apply until 8 June 2001 i.e. one year from the date of admission
('Admission') of the Company's ordinary shares to the Alternative Investment
Market ('AIM'), save in the event of an intervening court order or a takeover
offer relating to web-angel becoming or being declared unconditional.
This restriction will not apply to transfers between the Ermgassen Trust, the
Ziwagi Trust and the Ermgassen & Co Limited Employee Benefit Trust or to any
related party of any of them or to any employee who is a potential
beneficiary under such employee benefit trust nor to transfers between OC&C
Strategy Consultants Limited Partnership and any related party of it or to
any partner of such limited partnership or to any employee of any member of
the OC&C Strategy Consultants group. Any transferee not already bound by the
lock-in arrangements will be required to undertake to comply with the terms
of these arrangements.
Other than pursuant to the arrangements above, the directors of web-angel
have also agreed not to dispose of any beneficial interest in the shares of
the Company for a period of one year from the date of Admission, save in the
event of an intervening court order, a takeover offer relating to web-angel
becoming or being declared unconditional, or the death of the director.
All other lock-in arrangements set out in the Admission document continue to
apply.
Enquiries:
web-angel
Nick Tamblyn Tel: 020 7400 6377
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