25 Aug 2011 13:35
25 August 2011
IPSO Ventures plc
("IPSO" or the "Company")
Issue of Equity
Directors' Shareholdings
The Board of IPSO announces that it has today issued a total of 1,691,368 new ordinary shares of 0.1 pence each in IPSO (the "New Ordinary Shares") to the existing directors of IPSO and two former directors in lieu of net fees payable for the three month period ended 31 July 2011. The New Ordinary Shares were issued at a price of 1.875 pence, being the closing mid-market price of IPSO's ordinary shares on24 August 2011.
The New Ordinary Shares have been issued to the existing directors of IPSO as follows:
Number of New Ordinary Shares being issued | Existing Ordinary Shares held | Total number of Ordinary Shares held following Admission | Percentage of enlarged issued share capital held | |
Nick Rodgers (Chief Executive) | 480,000* | 2,058,824** | 2,538,824 | 6.75% |
Craig Rochford (Chairman) | 480,000*** | 3,600,000**** | 4,080,000 | 10.84% |
John Kelly (Non-Executive Director) | 160,000 | 2,650,000 | 2,810,000 | 7.47% |
*The 480,000 New Ordinary Shares have been issued to Nick Rodgers Financial Limited, a company wholly owned by Nick Rodgers.
**300,000 of the ordinary shares in IPSO which Nick Rodgers is currently beneficially interested in are held equally by Nick Rodgers and his wife, Thea Rodgers, as trustees for both the Thea Rodgers Children's Settlement and the Nick Rodgers Children's Settlement.
*** The 480,000 New Ordinary Shares have been issued to The Invention Company Limited, a company wholly owned by Craig Rochford.
**** 50,000 of the ordinary shares in IPSO which Craig Rochford is currently beneficially interested in are held by Arka Technologies Limited, a company wholly owned by Craig Rochford.
Cornerstone Capital Limited, a company 100% owned by Simon Hunt (former Chairman of IPSO), have been issued 411,368 New Ordinary Shares. Following Admission, Simon Hunt will be beneficially interested in 1,923,133 ordinary shares in IPSO representing 5.1% of the enlarged issued share capital of IPSO. In addition, Michael Baines (a former Non-Executive Director of IPSO) has been issued 160,000 New Ordinary Shares. Following Admission, Michael Baines will be beneficially interested in 734,059 ordinary shares in IPSO representing 2.0% of the enlarged issued share capital of IPSO.
Application will be made for the 1,691,368 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is anticipated that Admission will take place on or around 2 September 2011. Following Admission there will be 37,630,578 ordinary shares of 0.1 pence in issue in IPSO. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, IPSO under the FSA's Disclosure and Transparency Rules.
For further information, please contact:
IPSO Ventures plc Craig Rochford, Chairman Nick Rodgers, Chief Executive Officer
| Tel: 020 7921 2990 craig@ipsoventures.com nick@ipsoventures.com www.ipsoventures.com
|
Allenby Capital Limited (nominated adviser and broker) Nick Naylor Nick Athanas | Tel: 020 3328 5656
|