4 Apr 2011 07:00
4 April 2011
Brainspark plc
("Brainspark" or the "Company")
Director Shareholding
Brainspark has been informed by Mr Alfredo Villa, CEO, that on 31 March 2011 he acquired 31,000 Brainspark ordinary shares of 2.5p each ("Ordinary Shares"), for an average cash consideration of 34.5p per share.
Mr Alfredo Villa has also agreed to convert his entitlement under his salary and expenses of approximately £112,500 into new Ordinary Shares at a conversion rate of 50p per Ordinary Share, a premium of 45 per cent. to yesterday's closing mid market price. As a result, Mr Alfredo Villa has agreed to subscribe for 225,000 new Ordinary Shares (the "New Ordinary Shares").
Application will be made for the 225,000 New Ordinary Shares to be admitted to AIM and it is expected that admission will be effective on 8 April 2011 ("Admission").
Following Admission of the 225,000 New Ordinary Shares and the acquisition of Ordinary Shares mentioned above, Mr Alfredo Villa will have a beneficial interest in 5,364,039 Ordinary Shares representing approximately 38.3 per cent. of the Company's issued share capital.
As previously announced, Mr Alfredo Villa also has non-beneficial interests in 2,551,117 Ordinary Shares representing approximately 18.3 per cent. of the Company's issued share capital.
Total Voting Rights
Following Admission of the 225,000 New Ordinary Shares, the total number of issued Ordinary Shares in the Company will be 13,976,853 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company 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, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.
-ends-
For further information:
Brainspark plc +39 347 66 20 664
Alfredo Villa, Chairman and CEO
Arbuthnot Securities +44(0) 20 7012 2000
Antonio Bossi / Ed Groome
Leander PR +44(0) 7795 168 157
Christian Taylor-Wilkinson
About Brainspark Plc
Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. Its core investment is B'Parks & Leisure, the owner of a site in northern Italy with plans for the development of a large theme park. The company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.