RNS Number : 4352G
Judges Scientific PLC
29 June 2012
28 June 2012
Judges Scientific plc (the "Company")
Judges Scientific plc announces that Hon Alexander Hambro, the Company's Chairman, has given (i) the required 30-day notice to obtain redemption of 14,588 convertible redeemable shares and (ii) the required notice to convert 78,102 convertible redeemable shares of 1p each (fully paid) in the Company into 10,000 ordinary shares of 5p each ("Ordinary Shares"). The amount payable to him on redemption is £8,719, which is equal to the amount receivable from him in respect of the conversion; as a consequence the combination of the two transactions is cash neutral for the Company.
After completion of the two transactions, Alex Hambro will own 376,061 convertible redeemable shares and his interest in the Ordinary Shares (including those held in his SIPP) will be 100,000 shares, amounting to 1.9% of the Ordinary Share capital of 5,238,196 shares that will be in issue following this and previously announced conversions of convertible redeemable shares. Currently the issued ordinary share capital of the company is 4,850,967 ordinary shares.
The remaining convertible redeemable shares are convertible into 1.8% of the Ordinary Share capital of the Company as enlarged by the conversion of all the convertible redeemable shares.
Judges Scientific plc
David Cicurel, CEO
01342 323 600
020 7408 4090
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