Director/PDMR Shareholding

RNS Number : 1045X

eXpansys Plc

30 November 2010

 



For immediate release: 30 November 2010

EXPANSYS plc

(the "Company" or "EXPANSYS")

Director/PDMR Shareholding

Further to the announcement made on 11 October 2010 regarding the appointment of Brian Collie as a non executive director from 1 November 2010, the Company announces that, under the terms of the employment contract (the "Employment Contract") entered into between the Company and Brian Collie, Mr Collie's salary is payable half in cash and half in Ordinary Shares of EXPANSYS.  The Employment Contract is binding on both parties and is for a duration of 3 years. 

In order to satisfy the share element of his salary the Company proposes to issue new shares to Brian Collie on a monthly basis on the last day of each month. The number of shares to be issued each month will be determined by the closing mid-market share price of the Ordinary Shares on the trading day immediately prior to the issue of the Ordinary Shares and announcements will be made as required. 

Accordingly, the Company announces that it has today, pursuant to the Employment Contract, issued 26,666 Ordinary Shares to Brian Collie at a price of 6.25 pence per share. 

Application has been made to AIM for the admittance to trading of 26,666 Ordinary Shares. Trading is expected to commence on 6 December 2010. Following this admittance to trading of the 26,666 shares, Brian Collie will hold 426,666 Ordinary Shares representing 0.04 per cent. of the Company's issued share capital of 1,156,276,666 Ordinary Shares.

For further information please contact:

Cenkos Securities plc Stephen Keys Camilla Hume	Tel: [phone]
M:Communications Nick Miles Ben Simons	Tel  [phone] [e-mail] [e-mail]
eXpansys plc Anthony Catterson, CEO	Tel: [phone] [e-mail]
Tim Eltze, COO and Company Secretary	Tel: [phone] [e-mail]
Investor relations website	www.expansys.plc.uk

 

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