1 Dec 2010 16:11
Cavanagh Group plc (the "Company")
1 December 2010
GRANTING OF SECURITY OVER SHARES IN THE COMPANY BY A DIRECTOR
Cavanagh Group plc (LSE-AIM: CVH), one of the leading firms of Independent Financial Advisers, was notified on 29 November 2010, that Andrew Fay, Chief Executive of the Company, has granted a charge over 469,264 ordinary shares of 1 pence each in the Company ("Ordinary Shares") as security against a loan made to Andrew Fay.
Combined with the charge announced 4 November Andrew Fay now has a charge granted over a total of 979,264 Ordinary Shares representing approximately 8.4 per cent of the Company's issued share capital, as security against a loan made to Andrew Fay.
Andrew Fay remains the beneficial owner of all of these Ordinary Shares which are subject to a charge and retains the associated voting rights which represent approximately 37.39 per cent. of his beneficial holding.
As a result, Andrew Fay's beneficial interest in the Company remains unchanged at 2,619,394 Ordinary Shares, representing approximately 22.59 per cent. of the Company's issued share capital.
Enquires to:
Cavanagh Group plc Tel: 01444 475 400
Andrew Fay, Chief Executive Officer
Brewin Dolphin Ltd Tel: 0845 213 4730
Mark Brady