Further to the Company's trading update on 11 October 2010 relating to the termination of its contracts with Heathrow Airport Limited ("BAA") the Board announces that BAA Enterprises Limited has today surrendered its total shareholding in the Company of 1,750,000 ordinary fully paid up shares for nil consideration, in accordance with section 659 of the Companies Act 2006. These shares will be cancelled. As a result BAA Enterprises Limited no longer holds any shares in the Company. BAA Enterprises Limited have also waived their rights to the dividend payment issued on the 16th October 2010 for its shareholding of 1,750,000 shares. In addition, the Board has agreed a compensation package with BAA in consideration of termination of the contracts and the Company having to vacate the BAA sites.
As previously stated the Directors will continue with their strategic and operational review of the business and will update shareholders in due course.
Following the cancellation of the BAA shareholding the percentage shareholding of each of the Directors has changed as follows:
% pre BAA
% post BAA
Total Voting Rights
In accordance with the Financial Services Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 5p each in the capital of the Company in issue following the cancellation of the aforementioned shares is 10,968,258 with each share carrying the right to one vote. The above figure of 10,968,258 may be used by shareholders 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 Company, under the Disclosure and Transparency Rules.
Best of the Best plc
William Hindmarch, Chief Executive
Rupert Garton, Commercial Director
T: 020 7371 8866
Shane Dolan T: 020 7448 1000
Charles Stanley Securities
Mark Taylor/Luke Webster T: 020 7149 6000
Please visit www.botb.com for further information
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