Croma Security Regulatory News (CSSG)

16 Nov 2009 18:18



Croma Group PLC

Issue of equity and directors' dealings 

The Board of Croma Group PLC ("Croma" or the "Company") announces that, on 16 November 2009, it issued and allotted 6,500,000 new ordinary shares of 0.1 pence each ("New Ordinary Shares") (representing approximately 3.66 per cent. of the current issued share capital of the Company) at a price of 2.0 pence per share (the "Subscription Price"), to directors raising £130,000 (before expenses) pursuant to a subscription. The net subscription proceeds will be used for the repayment of debt. 

The New Ordinary Shares are being subscribed for under existing authorities to issue and allot shares. 

Application has been made to the London Stock Exchange for the 6,500,000 New Ordinary Shares to be admitted to trading on AIM and it is expected that dealings will commence on or around 20 November 2009. 

Directors' dealings 

Pursuant to the subscription, Sebastian Morley, a director of the Company, has subscribed for 2,500,000 New Ordinary Shares at the Subscription Price. Following this transaction, Sebastian Morley's beneficial interest in the Company is 21,028,634 ordinary shares, representing approximately 11.44 per cent. of the enlarged issued share capital of the Company. 

Gerald McGill, a director of the Company, has subscribed for 500,000 New Ordinary Shares at the Subscription Price pursuant to the subscription. Following this transaction, Gerald McGill's beneficial interest in the Company is 1,250,000 ordinary shares, representing approximately 0.68 per cent. of the enlarged issued share capital of the Company. 

James Sullivan, a director of the Company, has subscribed for 1,000,000 New Ordinary Shares at the Subscription Price pursuant to the subscription. Following this transaction, James Sullivan's beneficial interest in the Company is 1,000,000 ordinary shares, representing approximately 0.54 per cent. of the enlarged issued share capital of the Company. 

Furthermore, Nicholas Hewson, a director of the Company, has subscribed for 2,500,000 New Ordinary Shares at the Subscription Price pursuant to the subscription. Following this transaction, Nicholas Hewson's beneficial interest in the Company is 6,354,342 ordinary shares, representing approximately 3.46 per cent. of the enlarged issued share capital of the Company. 

Total Voting Rights

In accordance with FSA's Disclosure and Transparency Rules, the Company advises that its increased issued share capital comprises 183,883,964 ordinary shares of 0.1 pence each. The voting rights of all of these shares are identical with each share carrying the right to one vote. The Company holds no ordinary shares in Treasury. The above figure 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, Croma Group Plc under the Disclosure and Transparency Rules.

For further information contact: