JTP Share Transaction12 Jul 2019 05:43
Dealt with in 6 March RNS
Update on Jonathan Tidswell-Pretorius - 2018 Share Transactions
The Company has concluded its investigation into the dealings in 39,000,000 shares belonging to its former Executive Chairman, Mr. Jonathan Tidswell-Pretorius ("JT"). These dealings arose as a consequence of a Loan Agreement with a third-party equity linked lender (the "Lender") and the resulting transfers of shares to its stockbroker (the "Lender's Broker") as announced in multiple RNS releases last year. For completeness sake we set out in Appendix One below the timeline of all of the material transactions and steps involved. It should be noted at the outset that no funds were ever advanced under the Loan Agreement.
Whilst the Board expresses sympathy for Mr. Tidswell-Pretorius' legal position, the investigation has confirmed that the Company's share dealing code was not complied with and accordingly for clarification Mr. Tidswell-Pretorius will not be reinstated to the Board but remains the Group's non-board director of operations.