Last checked at 21 Nov 2013 07:00
21 November 2013
Ferrum Crescent Limited
("Ferrum Crescent", the "Company" or the "Group") (ASX: FCR, AIM: FCR, JSE: FCR)
Issue of Shares
Ferrum Crescent announces that the Company has today issued 4,401,392 ordinary shares to Messrs Scott Huntly and Andrew Nealon under the terms and conditions of the Ferrum Crescent Director and Senior Management Fee and Remuneration Sacrifice Share Plan (the "Plan"). The shares have been issued to Mr Huntly in lieu of his salary for the period from 1 July 2013 to 31 October 2013 and for Mr Nealon (via his nominee) for the period from 1 December 2012 to 31 October 2013 at an average weighted average price for the last 5 days prior to each month end.
On 8th August 2012, the Company's shareholders approved the Plan under which Directors and Senior Managers of the Company who are eligible to be offered shares without prospectus disclosure may elect to sacrifice part or all of their directors' fees or executive remuneration to acquire shares in the Company. The purpose of the Plan is to help align the interests of Directors and Senior Managers with those of shareholders by encouraging Director and Senior Manager share ownership and (where such shares are newly issued) preserve cash in the Company. Further detail on the Plan may be found in the Company's Notice of General Meeting of Shareholders dated 29 June 2012.
A breakdown of each Company officer's share issue is provided below:
Name | No. of Shares Issued | Average Price | Total Shareholding Post Issue | % of Enlarged Issued Share Capital |
Scott Huntly | 1,267,065 | AUD$0.01693 | 6,723,087 | 1.78 |
Andrew Nealon | 3,134,327 | AUD$0.01755 | 4,166,460 | 1.10 |
Accordingly, application has been made for 4,401,392 Ferrum Crescent shares to be admitted to trading on the Australian Securities Exchange Limited, the AIM market of the London Stock Exchange and on the JSE Limited. Admission is expected to become effective at 09:00am (Australian Eastern Daylight Savings time), 8:00am (UK time) and 09:00am (SA time) on 21 November 2013.
Following admission the Company will have 377,215,933 fully paid ordinary shares in issue.
Additionally, the Company has today granted 250,000 options each to Mrs Beverley Gardner, Financial Controller and Mr Dave Richards, Compliance Manager. The Options have been granted under the terms and conditions of the Ferrum Crescent Ltd Employee Option Plan. The Options will be unquoted, granted for no consideration but will be exercisable at AUD$0.03 on or before 21st November 2016.
For more information, please visit www.ferrumcrescent.com or contact:
Australia and Company enquiries: | UK enquiries: |
Ferrum Crescent Limited Ed Nealon T: +61 8 9380 9653 Executive Chairman
Bob Hair T: +61 414 926 302 Managing Director | Ocean Equities Limited (Broker) Guy Wilkes T: +44 (0) 20 7786 4370
RFC Ambrian Limited (Nominated Adviser) Sarah Wharry T: +44 (0) 20 3440 6800 Jen Boorer T: +44 (0) 20 3440 6800
Ferrum Crescent Limited Laurence Read (UK representative) T: +44 7557672432
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South Africa enquiries: | Sasfin Capital Leonard Eiser T: +27 11 809 7500 |