Last checked at 9 Sep 2011 14:12
Watermark Global Plc
("Watermark" or "the Company")
Issue of Equity and Director's Dealing
The Directors of Watermark announce that the Company has applied for admission to trading of 70,285,904 ordinary shares of 0.15 pence which are expected to be admitted to trading on 15 September 2011. Of this amount, 20,000,000 shares have been issued to Jaco Schoeman for his continued efforts to maintain the Company's competitive position with its water treatment project whilst at the same time accepting a 60% reduction in his cash compensation. The remainder have been issued to a consultant who has agreed to accept shares in lieu of cash, thereby preserving the Company's cash resources.
The new ordinary shares will rank pari passu with the existing shares of the Company. Following this allotment, the total issued share capital of the Company has increased to 1,498,041,017 ordinary shares with voting rights. The Company holds no shares in treasury, therefore the total number of voting rights in the Company is 1,498,041,017
This figure of 1,498,041,017 ordinary shares 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 in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
Enquiries:
Watermark Global Plc
Jaco Schoeman, Chief Executive Officer Tel: + 44(0) 20 7233 1462
jschoeman@watermarkglobalplc.com
Charles Zorab, Investor Relations Tel: + 44(0) 20 7233 1462
czorab@watermarkglobalplc.com
Nominated Adviser: Cenkos Securities
Ian Soanes/Elizabeth Bowman Tel: +44(0)20 7397 8928
Copyright Business Wire 2011