10 Jan 2013 10:08
AVESCO GROUP plc ("Avesco" or the "Company")
Issue of Equity and Directors' Holdings
Avesco (AIM: AVS) announces that it is issuing 508,000 ordinary shares of 10p each in the Company ("Ordinary Shares") to the Avesco Employee Benefit Trust (the "Trust") following the vesting of awards over Ordinary Shares under the Company's Long Term Incentive Plan.
Following the issue of these Ordinary Shares at nil cost to directors and employees, the interests of the directors concerned in the Ordinary Share capital of the Company (including, where applicable, their interests in shares held on their behalf by the Trust) are as set out below:
Director | Ordinary Shares vested under LTIP | Total holding following issue | % of the Company's voting rights following issue |
Richard Murray | 0 | 5,293,206 | 20.4% |
John Christmas | 60,000 | 93,461 | 0.4% |
Graham Andrews | 60,000 | 196,864 | 0.8% |
David Crump | 50,000 | 158,760 | 0.6% |
Ami Giniger* | 0 | 7,607,878 | 29.3% |
Carmit Hoomash | 0 | 0 | 0% |
* These shares are held by Taya Investment Company Limited and a 100% controlled subsidiary of that company. Taya Investment Company Limited is controlled by Ami Giniger and of which he is a director.
Application has been made for 508,000 Ordinary Shares to be admitted to trading on AIM. The Ordinary Shares will rank pari passu with existing ordinary shares and admission is expected to occur on 11 January 2013 ("Admission"). The total number of shares in issue following Admission will be 26,493,899. There are 542,349 Ordinary Shares held in treasury so the number of Ordinary Shares with voting rights is 25,951,550. 25,951,550 is the figure which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Avesco under the FSA's Disclosure and Transparency Rules.
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