Harvey Nash Group Regulatory News (HVN)

22 Apr 2008 07:00

Harvey Nash Group PLC22 April 2008 Harvey Nash Group PLC 22 April 2008 Harvey Nash Group PLC ("the Company") - Director Shareholding The Harvey Nash Group plc announces that on 21 April 2008 Directors andemployees acquired in total 965,372 ordinary shares of 5p each ("Shares")representing 1.33% of the issued share capital of the Company. The transactionfalls into two parts. Firstly, 606,130 Shares (0.84% of the total Shares in issue) were acquired bythe Harvey Nash Group EBT Ltd on behalf of certain Directors and employees ofthe Company at a price of 40p. All of these Shares were acquired from the DavidHiggins 2002 Discretionary Trust ("the Trust"). As part of this share acquisition, certain Directors acquired Shares in the Company as follows:- Albert Ellis - 10,185 Shares,Simon Wassall - 10,185 Shares, andRichard Ashcroft - 10,185 Shares. Secondly, Albert Ellis, Chief Executive Officer of the Company has exercised anoption to acquire 700,000 Shares in the Company from the Trust for an aggregateconsideration of £1. Following and pursuant to the exercise of this option, thenet amount of Shares transferred from the Trust and acquired by Albert Ellis was359 242 Shares with the balance of Shares disposed of by the Trust for 40p pershare to finance estimated income tax and national insurance contributions. David Higgins and Albert Ellis are beneficiaries and trustees under the Trustand as such are deemed to be interested in all of the Shares held by it. DavidHiggins and Albert Ellis cease to be interested as trustees in the Shares sotransferred. Upon the exercise of the option and the transfer of the Shares referred toabove, all beneficiaries have exercised their respective options and thetrustees of the Trust intend to begin the process of winding up the Trust.Following this transaction, the Trust holds 635,844 Shares (0.88% of the totalShares in issue) which will in due course be returned to David Higgins. TheTrust was established in 2002 for the purpose of establishing an additionalmeans of incentivising certain key employees of the Company, using fundsprovided by David Higgins. The Harvey Nash Group EBT Ltd is a discretionary trust under which all employeesof the Company are potential beneficiaries, including the Directors, each ofwhich is deemed for the purposes of the Companies Act 1985 as interested in allof the Shares held by Harvey Nash Group EBT Limited. Following the transfers of Shares referred to in this notice, the following Directors hold interests in the Company follows:- Albert Ellis - 410,131 Shares (representing 0.57% of total Shares in issue),Simon Wassall - 26,890 Shares (representing 0.04% of total Shares in issue), andRichard Ashcroft - 26,889 Shares (representing 0.04% of total Shares in issue). The matters contained in this announcement do affect the total number of voting rights outstanding in the Company which remain at 72,440,200. ENQUIRIES: Harvey Nash Tel: 020 7333 0033Richard Ashcroft, Group Finance Director This information is provided by RNS The company news service from the London Stock Exchange