21 Apr 2010 12:57
21 April 2010
Insetco plc
Notification of Major Interest in Shares
Insetco plc ("Insetco" or the "Company") announces that ADM Investor Services International Limited ("ADM") has informed the Company that ADM sold its holding of 625,000 Insetco ordinary shares on 16 April 2010 and therefore no longer holds a notifiable stake in the Company.
Furthermore ADM has applied to exercise the conversion rights over £850 of the £50,000 Convertible Loan Notes 2012 ("CLS") issued to ADM on 6 April 2010 requiring the issue of 850,000 Insetco new ordinary shares in accordance with the terms of the CLS, representing 28.82% of the enlarged issued share capital. Accordingly, application has been made for the 850,000 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 28 April 2010.
The 850,000 new ordinary shares will rank pari passu with the existing shares of the Company. Following this allotment, the total issued share capital of the Company will comprise 2,949,051 ordinary shares.
Enquiries:
Insetco plc
Gary Truman 020 7309 2280
Charles Woodworth +1 212 584 5667
Charles Stanley Securities
Nominated Adviser
Russell Cook / Dugald Carlean 020 7149 6000