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5 Nov 2008 07:00
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5Β November 2008
Β
Red24 plc
(the "Company")
Directors DealingsΒ and Issue of Equity
Red24 plc ('Red24'),Β the AIM-quoted security and risk management consultancyΒ today announces thatΒ the CompanyΒ was informed onΒ 4 NovemberΒ 2008 that onΒ the same day,Β Simon Richards, Chairman of the Company,Β and John Mocatta, non-executive director, each purchased 135,000Β OrdinaryΒ Shares in the Company at a price of 2.4p. At the same time the CompanyΒ was informed that on 4 NovemberΒ Sidebell Limited a company in which Simon Richards, Chairman of the Company,Β is a director and shareholderΒ purchased 230,000Β OrdinaryΒ Shares in the Company at the price ofΒ 2.4p.
Following this purchase,Β Simon Richards, is now interested inΒ 12,489,250Β OrdinaryΒ Shares, representingΒ 28.1% of the Company's total issued share capitalΒ following the new issue detailedΒ belowΒ of whichΒ 580,000Β shares are heldΒ in his name,Β 11,409,250Β shares are heldΒ by Sidebell LimitedΒ andΒ 500,000Β shares are heldΒ by FinancialΒ & General Securities Limited.Β John Mocatta in now interested in 500,000Β OrdinaryΒ Shares, representing 1.12%Β of the Company's total issued share capitalΒ following the new issue detailedΒ below.
In addition the Company announces that it has issued 1,000,000 Ordinary Shares of 1p at a price of 2p per share, being the mid-market price at the time of the transaction.
Maldwyn Worsley-Tonks, CEO of the Company, has subscribed for 400,000 of the new Ordinary Shares, with the remaining 600,000 beingΒ allotted to two senior members of staff under the Company's Employee Share Loan Scheme.
Following the issue of equity Mr Worsley-Tonks will have an interest in 913,500 shares representing 2% of the issued share capital in the Company.
Application has been made for the Placing Shares to be admitted to trading on AIM and dealings are expected to commence on 10 November 2008. Following the Placing the issued share capital of red24Β plc has increased to 44,371,083Β ordinary shares of 1p.
- Ends -
Β
For further information please contact:
Β
|
Red24 plc |
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Simon Richards, Chairman |
Tel: 0208 080 0217 |
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Threadneedle Communications |
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|
Josh RoystonΒ /Β Graham Herring |
Tel: 0207 653 9850 |
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HB Corporate |
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|
LukeΒ Cairns |
Tel: 0207 510 8600 |
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