21 Jan 2011 10:41
Avesco Group plc
Director shareholding
Avesco Group plc ("Avesco" or the "Company"), the provider of services to the corporate presentation, entertainment and broadcast markets, announces that it has received applications from two option holders to exercise a total of 1,142,141 options under the Avesco Group plc 1997 Share Option Scheme ("Scheme"). These options carry an exercise price of 71.16667p per ordinary share of 10p each ("Share").
One of the option holders is Richard Murray, the non-executive deputy Chairman of Avesco, who applied to exercise 652,652 options. Both option holders agreed to their option rights being settled as a share appreciation right by the Company. Prior to the exercise of these options, the Company held 962,500 Shares in treasury, which are available to meet the exercise of share options. Full and final settlement of the options as a share appreciation right has resulted in the transfer of 348,151 Shares out of treasury on 20 January 2011 to the option holders, of which 197,843 were transferred to Richard Murray.
Further to this transaction Richard Murray is now the registered holder and beneficial owner of 5,197,206 Shares, representing approximately 20.5 per cent of Avesco's total voting rights.
The total number of Avesco Shares in issue is unchanged at 25,985,899, with each Share carrying the right to one vote. There are now 614,349 Shares held in treasury. The total number of voting rights in the Company is therefore 25,371,550. The above figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
For further information please contact:
Avesco Group plc 01293 583400
Ian Martin, Chief Executive
John Christmas, Finance Director
finnCap 020 7600 1658
Corporate Finance
Clive Carver/Ed Frisby
Corporate Broking
Brian Patient