10 Mar 2017 07:00
APC Technology Group PLC
("APC" or the "Company")
10 March 2017
Directors' subscription and issue of new shares
APC Technology Group PLC (AIM: APC), the provider of design, specification and distribution services for specialist electronic components and systems, lighting technologies and connectivity products, announces that two Directors of the Company have subscribed for new ordinary shares of 2 pence each in the capital of the Company (the "Ordinary Shares") at a price of 6.75 pence per share, as follows:
Tony Lochery, Chairman, has subscribed for 1,481,481 Ordinary Shares, for a subscription value of £100,000 Following this subscription, Mr Lochery's total holding in the Company's shares will be 1,481,481 shares, representing 1.13% of the enlarged issued share capital.
Richard Hodgson, Chief Executive, has subscribed for 375,000 Ordinary Shares, for a subscription value of £25,312. Following this subscription, Mr Hodgson's total holding in the Company's shares will be 2,000,000 shares, representing 1.53% of the enlarged issued share capital.
The Company will also issue 807,288 Ordinary Shares to John McLaren ("Ian") Davidson, a former Non-executive Director of the Company, in settlement of fees as a Director and consulting services provided by Idea Business Solutions Limited, a company controlled by Mr Davidson.
The Company will also issue 370,370 Ordinary Shares in settlement of professional fees.
The conversion price for calculating the number of shares to be issued to Mr Davidson and in settlement of professional fees is also 6.75 pence, being the mid-market price prevailing at the close of business on 8 March 2017.
A total of 3,034,139 new Ordinary Shares (the "New Ordinary Shares") will therefore be issued. The proceeds of the cash subscription will be used to augment the Group's working capital resources.
The above share issues are conditional on the admission of the New Ordinary Shares to trading on AIM ("Admission"). Application has been made to the London Stock Exchange plc for Admission to become effective and dealings in the New Ordinary Shares to commence at 8.00 a.m. on or around 15 March 2017.
Total Voting Rights
Following the issue of the New Ordinary Shares, the total issued ordinary share capital of the Company will comprise 130,838,916 Ordinary Shares, each carrying the right to one vote. The New Ordinary Shares will be fully paid and will rank pari passu in all respects with the Group's existing Ordinary Shares.
The Company does not hold any Ordinary Shares in treasury and, therefore, the above figure may be used by shareholders as the denominator for the calculation 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 FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
APC Technology Group PLC +44 (0) 330 313 3220
Richard Hodgson, Chief Executive www.apcplc.com
Art Russell, Chief Financial Officer
Stockdale Securities Limited (Nominated Adviser and Broker) +44 (0)20 7601 6100
Mark Brown / Antonio Bossi / Edward Thomas