18 May 2011 18:29
18 May 2011
Cavanagh Group plc ("Cavanagh" or the "Company")
Exercise of Share Options and Total Voting Rights
Further to the announcement released on 16 May 2011 regarding the wholly unconditional offer for Cavanagh by Close Asset Management Holdings Limited ("CAMHL")(the "Offer"), the Company notifies shareholders that a number of ordinary shares of 1p each in the Company ("Ordinary Shares") have been issued or transferred to certain former and current employees and Directors of the Company in accordance with the terms of the Cavanagh share incentive schemes.
All of the new Ordinary Shares issued and Ordinary Shares transferred pursuant to the share pledge arrangements have been assented to the Offer and will be acquired by CAMHL in accordance with its terms.
The total number of new Ordinary Shares that have been allotted is 676,162. Application has been made for these new Ordinary Shares to be admitted to AIM at the earliest practical opportunity.
Following the exercise of options and share transfer the Directors' holdings are as follows:
Beneficial interest in Cavanagh shares prior to exercise and transfer | Number of options exercised | Total Number of shares transferred | Beneficial interest in Cavanagh shares following exercise and transfer | % of issued share capital | |
Charles Gillespie | 286,690 | 18,518 | 90,908 | 396,116 | 3.23% |
Ian Henson | 244,802 | 83,000 | 103,361 | 431,163 | 3.51% |
Paul Sinnett | 110,000 | 20,588 | 130,588 | 1.06% | |
Kenneth Timmins | 42,775 | 18,518 | 61,293 | 0.50% | |
Andrew Fay | 2,619,394 | (219,268) | 2,400,126 | 19.56% | |
Simon Redgrove | 2,536,710 | (219,268) | 2,317,442 | 18.88% |
Following admission of these shares to AIM and in accordance with FSA's Disclosure and Transparency Rules, the total issued share capital of the Company will be 12,273,209 Ordinary Shares. 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 the Company under the Disclosure and Transparency Rules.
For further information:
Cavanagh
Andrew Fay, Chief Executive Officer | 0144 447 5425 |
Brewin Dolphin (nominated adviser and financial adviser to Cavanagh)
Mark Brady | 0845 213 4748 |
Sean Wyndham-Quin | 0845 213 4748 |