Placing of Shares
Paddy Power plc
02 September 2003
Paddy Power plc
Placing of Shares
Paddy Power plc announced today 2nd September 2003 that Goodbody Stockbrokers
has successfully placed 5,615,250 existing ordinary shares in Paddy Power plc
principally with institutional investors in Ireland and the UK on behalf of a
number of existing shareholders at a price of €6.06 per shares (stg£4.20).
The following sales were undertaken by the Directors and Major Shareholders:
Beneficial holding Beneficial holding
pre-placing Shares sold post-placing % of ISC
John Corcoran 5,090,176 2,500,000 2,590,176 5.42%
Stewart Kenny 1,859,832 1,200,000 659,832 1.38%
HgCapital 3,098,105 1,500,000 1,598,105 3.34%
In addition to selling 1,200,000 shares, Stewart Kenny, a non-executive director
of Paddy Power plc, has also transferred beneficial ownership of 400,000 shares
to family members following which he will have no beneficial interest in those
shares. His shareholding following the placing and the transfer is 259,832
representing 0.54% of the issued share capital.
Following these share sales and transfers, the free float has increased to
78.74%.
A charitable trust, of which Stewart Kenny and Fintan Drury are trustees, has
also sold 50,000 shares in the placing. Stewart Kenny and Fintan Drury, Chairman
of Paddy Power plc, have no beneficial interest in the charitable trust.
Rowan Nominees Limited and Bank of New York Nominees Limited hold 1,598,105
shares for funds managed by HgCapital with which Ian Armitage is managing
director. In addition, Ian Armitage, a non-executive director of Paddy Power
plc, has a beneficial interest in 38,189 shares.
End.
Enquiries:
Ross Ivers Tel: +353 1 404 5931
Deputy Chief Executive and Finance Director Mob: +353 87 668 8772
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund