2 May 2007 07:00
2 May 2007 Amteus plc ("Amteus" or the "Company") Director's shareholding
Further to the announcement made on 6 March 2007, following the approval by shareholders of the Company of a resolution seeking to renew the directors' authorities to issue shares, Jeffrey Morris, Executive Deputy Chairman of the Company, has capitalised the remainder of his outstanding loans, amounting to approximately ‚£684,000, into 950,000 Ordinary Shares. Mr Morris has requested that the Company issue these shares directly to his adult son, Joshua Morris.
In addition, Mr Morris has transferred 150,000 shares (comprising the shares he received as part of the initial debt capitalisation announced on 6 March 2007) to Joshua Morris.
Furthermore, Jeffrey Morris has charged 806,335 Ordinary Shares to Barclays Bank Plc in connection with a personal guarantee given by him to the bank relating to another business interest. The Company and John East & Partners Limited have consented to release Mr Morris from an orderly market undertaking in respect of these shares to expire on the earlier of the charge being extinguished or 18 January 2008.
Following the above transactions, Mr Morris has a beneficial interest in 19,612,670 Ordinary Shares, equivalent to 48.5 per cent. of the enlarged issued voting share capital of the Company. This includes the shares that have been charged to Barclays Bank Plc as Mr Morris retains the right to vote these shares unless an event of default occurs under the terms of the charge.
Following the issue of the debt capitalisation shares referred to above, the Company will have 40,437,078 Ordinary Shares in issue. Application will be made for the debt capitalisation shares to be admitted to trading on AIM. Dealings in these shares are expected to commence on 8 May 2007.
Enquiries:Amteus plc 01756 770376 Michael Abrahams (Chairman) 020 7628 2200 John East & Partners Limited 01756 770376 John East/Simon Clements Rawlings Financial John Rawlings
AMTEUS PLC