Last checked at 28 Apr 2016 09:22
28 April 2016
ADVFN PLC
("ADVFN" or the "Company")
Director dealing and issue of equity
ADVFN announces that it has today issued 113,636 new ordinary shares of 0.2 pence each ("Ordinary Shares"), representing 0.45 per cent. of its issued share capital, at a price of 22 pence per share to Clem Chambers, the Company's Chief Executive Officer, for total consideration of £25,000.
Due to the limited availability of ADVFN shares in the secondary market at this volume, the Company agreed to issue new shares at 22 pence per share, being the offer price as at market close on 27 April 2016. The proceeds will be used for general working capital purposes.
Accordingly, Clem Chambers' aggregate beneficial interest (direct and indirect) has increased by 113,636 Ordinary Shares to 1,337,520 Ordinary Shares, representing 5.28 per cent. of the issued share capital and total voting rights of the Company. Clem Chambers' indirect interest is through On-Line PLC of which he holds a 19.96 per cent. beneficial interest.
Application will be made to the London Stock Exchange for admission of 113,636 Ordinary Shares to trading on AIM (the "Admission") and it is expected that Admission will take place and that trading will commence on AIM on or around 5 May 2016.
The issued share capital of the Company following the issue of the new Ordinary Shares is 25,333,846 Ordinary Shares of 0.2 pence each. The Company does not hold any Ordinary Shares in Treasury.
Following Admission, the above figure of 25,333,846 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 change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further information, please contact:
Clem Chambers,
ADVFN PLC CEO
0207 0700 909
Salmaan Khawaja
Jen Clarke
Jamie Barklem
Grant Thornton UK LLP (Nominated Adviser)
0207 383 5100