Total Voting Rights - issue of B shares pursuan...
REDDE PLC
ALLOTMENT AND ISSUE OF B SHARES UNDER LTIP
TOTAL VOTING RIGHTS
The Board of Redde plc ("Company") announces that in advance of the share
capital reorganisation which was approved by Shareholders at the General
Meeting on 23rd May 2014 ("Share Capital Reorganisation") it had allotted nine
B shares of 0.01 pence each in the Company ("B Shares") under the terms the
Company's B Share Incentive Scheme ("B Share Scheme"). This was to ensure no
fractions were created as a result of the alterations to the B Share Scheme
that took effect under the terms of the Company's articles as a result of the
Share Capital Reorganisation.
The allotment of the nine B Shares increased Stephen Oakley's interest in B
Shares prior to the Share Capital Reorganisation from 34,703,031 B Shares to
34,703,040 B Shares.
In accordance with articles of association of the Company, on the occurrence of
the Share Capital Reorganisation, every 10 B Shares were automatically
consolidated into one B ordinary share of 0.1 pence ("New B Shares") so that
Martin Ward now holds 6,940,606 New B Shares and Stephen Oakley holds 3,470,304
New B Shares.
Following the Share Capital Reorganisation Martin Ward holds 138,280 (0.051%)
ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary
Shares"), Stephen Oakley holds 40,000 (0.015%) Ordinary Shares and Mark
McCafferty holds 30,000 (0.011%) Ordinary Shares.
Following the Share Capital Reorganisation the Company has 272,663,740 Ordinary
Shares in issue, each with voting rights, which figure may be used by
shareholders in the Company 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 share capital of the Company under the
Financial Conduct Authority's Disclosure and Transparency Rules.
For further information, contact:
Redde plc 01225 321134
Martin Ward, Chief Executive Officer
Stephen Oakley, Chief Financial Officer
Cenkos Securities plc 0207 397 8900
Ian Soanes
Max Hartley
Square1 Consulting 02079295599
David Bick
Mark Longson
Notes to Editors:
Through its accident management subsidiaries ("Helphire") Redde plc ("Group")
is a market leader in providing accident assistance to non-fault motorists
involved in road accidents. In partnership with the insurance and motor
industries, Helphire delivered accident management solutions, including vehicle
replacement and legal representation, to over 100,000 motorists in 2013,
ensuring that they remain mobile until their own vehicles are repaired or until
they are put in a position to obtain a replacement. Following changes in the
legislation that now enables non-solicitors to own law firms the Group now
includes a number of legal practices and the Group, which owns its own fleet of
replacement vehicles, now provides a unique "one stop shop" providing
comprehensive assistance to victims of accidents covering both motor and other
incidents.
With effect from 23 May 2014, the Company's name changed to Redde plc from
Helphire Group plc. The new name, which is associated, in Latin, with the
concept of restoration, more appropriately describes the Group's enlarged field
of activities, strategic aims and wider business focus.
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