12 Nov 2010 07:00
November 12, 2010
Billing Services Group Limited (the "Company")
Issue of Equity
The Company has today made application for 302,500 common shares of $0.59446 ("New Common Shares") to be admitted to trading on AIM ("Admission") pursuant to the exercise of options. Of this amount, options covering 256,250 common shares were exercised by former employees that were part of the Company's previously announced reduction in force. No options were exercised by executives or directors. It is expected that Admission will occur on November 18, 2010.
Mr. Norm Phipps, the Chief Financial Officer, and Mr. Greg Carter, the Chief Executive Officer, have agreed to buy the New Common Shares at a price of 13.75 pence per New Common Share. Following this purchase, Mr. Phipps will have a beneficial interest in 14,203,860 shares representing 5.07 per cent. of the Company's existing issued share capital and Mr. Carter will have a beneficial interest in 151,250 shares.
Following the issue of the New Common Shares, the Company's issued share capital consists of 280,165,748 common shares.
Inquiries:
Evolution Securities Limited
Stuart Andrews +44 (0)20 7071 4300