18 Nov 2011 07:00
18 November 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 800,000 new ordinary shares of 0.1 pence each in IPSO (the "New Ordinary Shares") to the existing directors of IPSO and a former director in lieu of net fees payable for the three month period ended 31 October 2011. The New Ordinary Shares were issued at a price of 3.75 pence, being the closing mid-market price of IPSO's ordinary shares on 1 November 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 following Admission | |
Nick Rodgers (Chief Executive) | 240,000* | 2,538,824** | 2,778,824 | 7.23% |
Craig Rochford (Chairman) | 240,000*** | 2,405,000**** | 2,645,000 | 6.88% |
John Kelly (Non-Executive Director) | 80,000 | 2,810,000 | 2,890,000 | 7.52% |
* The 240,000 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 240,000 New Ordinary Shares have been issued to The Invention Company Limited, a company wholly owned by Craig Rochford.
**** 480,000 of the ordinary shares in IPSO which Craig Rochford is currently beneficially interested in are held by The Invention Company Limited.
Cornerstone Capital Limited, a company 100% owned by Simon Hunt (former Chairman of IPSO), have been issued 240,000 New Ordinary Shares.
Application will be made for the 800,000 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is anticipated that Admission will take place on or around 24 November 2011. Following Admission there will be 38,430,578 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
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Allenby Capital Limited (nominated adviser and broker) Nick Naylor Nick Athanas | Tel: 020 3328 5656
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