Orogen Gold Regulatory News (ORE)

8 Jun 2006 13:49

Aricom PLC08 June 2006 Directors' Holdings - Exercise of Option 8 June 2006 Further to the announcement made by the Company on 18 April 2006, the Companyhas received notice from Philotus Holdings Limited ("Philotus") that, inaccordance with the Option Agreement dated 18 April 2006 between Philotus andthe Company ("the Agreement"), Philotus has now exercised its right to apply theOption Premium of US$9 million (which was paid on grant of the option) tosubscribe for 18,262,987 Ordinary shares of 0.1p each in the Company,conditional on the admission of these shares to trading on AIM. The subscriptionprice per share, in accordance with the Agreement, was set at £0.28 per Ordinaryshare. Both Peter Hambro and Pavel Maslovsky, being Directors of the Company, have aninterest in Philotus and accordingly, the number of shares held pre and post thereinvestment of the option premium are as follows: Pre the reinvestment of the option Post the reinvestment of the premium option premium No. of shares % of total No. of shares % of total issued share issued share capital capitalPeter Hambro and associates 12,135,461 3.62% 21,266,955 6.01% Pavel Maslovskyand associates 33,268,730 9.92% 42,400,223 11.99% Following this issue, the total issued share capital of the Company willcomprise 353,611,121 Ordinary shares. Enquiries: Tom Swithenbank Aricom plc 020 7201 8939 Tim Grey The Millbrook Partnership 020 7520 9455 This information is provided by RNS The company news service from the London Stock Exchange