Abrdn Property Regulatory News (API)

29 Feb 2008 15:57

API Group PLC29 February 2008 29 February 2008 API Group plc ("API") Directors' dealings Following the completion of the recent Open Offer (as defined in the prospectusissued by API dated 17 December 2007) and confirmation from API's registrars, asat the date of this announcement the Directors of API hold the following sharesin API: Director Number of shares acquired Total number of shares % of current issued share as part of the Open Offer now held capital of APIS B Birkenhead 22,162 104,162 0.15%M H O'Connell 75,820 140,820 0.2%A J S Robertson 0 55,228 0.08%A Turner 0 26,741 0.04%A J Walker 54,320 95,986 0.13%R C Wright 208,591 373,591 0.53% The total shareholding by Directors has increased to 1.13% of the current issuedshare capital of API compared to 0.45% immediately before the announcement ofthe Open Offer. As the result of an administrative error in the share allotment process of theOpen Offer, Mr. Wright and Mr. O'Connell were allocated, in total, 173,597shares in excess of their entitlements. Since no practical alternative isavailable to unwind this position, Mr. O'Connell and Mr. Wright have agreed toaccept the additional shares and have paid all sums properly due in settlement.At the record date for entitlements under the Open Offer, all of Mr. Robertson'sshares in API were held in a SIPP in respect of which no entitlements were takenup under the Open Offer. As previously announced, however, Mr. Robertson didmake a market acquisition of 32,980 shares on 28 December 2007. Mr. Turner didnot hold any shares in API at the record date for entitlements under the OpenOffer. In conformity with the Disclosure and Transparency Rules, API confirms that,following completion of the Open Offer, there are in issue 70,126,726 ordinaryshares of 1p with voting rights. This figure may be used by shareholders as thedenominator for the calculations by which they will determine if they arerequired to notify an interest in, or a change in an interest in, API under theDisclosure and Transparency Rules. API does not hold any shares in treasury. Ends Enquiries Sam Plant, Company Secretary, API Group plc 01625 858 700 Nick Westlake, Numis Securities Limited 020 7260 1000 This information is provided by RNS The company news service from the London Stock Exchange