12 Jul 2016 12:15
RM2 International S.A.
Director / PDMR Shareholding (Correction)
The announcement released by RM2 International S.A. entitled "Director/ PDMR Shareholding" on 8 July 2016 at 15.45 incorrectly stated the shareholdings of Ian Molson to be 1,275,000. The total number of ordinary shares held by Ian Molson is 11,275,000. All other figures remain unchanged. The correct figure is included in the reissued announcement below:
Issued: 12 July 2016
Press release
RM2 International S.A. ("RM2" or the "Company") announces that, on 8 July 2016, it issued 1,275,000 ordinary shares of $0.01 each in the Company (the "New Ordinary Shares") to certain non-executive directors in RM2 in lieu of cash payments of directors fees.
Following the issue of the New Ordinary Shares, the revised shareholdings of the relevant directors of the Company are as follows:
Name | No. of New Ordinary Shares Issued | Total No. of Ordinary Shares Held | % of Enlarged Issued Share Capital |
R. Ian Molson | 275,000 | 11,275,000 | 2.82% |
Jan Dekker | 200,000 | 2,700,000 | 0.67% |
Charles Duro | 200,000 | 537,500 | 0.13% |
Lord Rose | 200,000 | 1,350,000 | 0.34% |
Amaury de Seze | 200,000 | 1,650,000 | 0.41% |
Paul Walsh | 200,000 | 1,939,091 | 0.48% |
Application has been made to the London Stock Exchange for the New Ordinary Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM, and admission is expected to become effective on 14 July 2016.
Following admission, the Company will have 400,305,156 Ordinary Shares outstanding, including a further 1,000,000 restricted shares issued under the Company's equity incentive plan today. Subtracting the 342,334 Ordinary Shares held by the Company as non-voting treasury stock, the total number of voting rights in the Company is 399,962,822. The figure of 399,962,822 common shares 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 their interest in, the Company under the Financial Services Authority's Disclosure and Transparency Rules.
The New Ordinary Shares are restricted from trading until volume weighted average quoted price of the Ordinary Shares for a consecutive 30-day period equals or exceeds 100p.
In addition, the previously announced resolution to award options to Jeff Blouvac, the Company's CFO was implemented on July 1, 2016, resulting in the award of options with an exercise price of 23p, being the closing mid-market share price on 30 June 2016, and a duration of 10 years. The options will cliff vest on the third year anniversary date of their grant, but cannot be exercised until the stock closes above a thirty-day average closing price of 100p.
For further information, please contact:
RM2 International S.A. | +44 (0)20 8820 1412 |
John Walsh, Chief Executive Officer Jean-Francois Blouvac, Chief Financial Officer | |
RBC Capital Markets | +44 (0)20 7397 8900 |
Tristan Lovegrove Pierre Schreuder | |
Ema Jakasovic
| |
Citigate Dewe Rogerson | +44 (0)20 7638 9571 |
Rob Newman Ellen Wilton |
Notes to Editors
RM2 International S.A. specialises in pallet development, manufacture, supply and management to establish a leading presence in global pallet supply and improve the supply chain of manufacturing and distribution businesses through the effective and efficient use and management of composite pallets. It is quoted on the AIM market of the London Stock Exchange under the symbol RM2.L.
For further information, please visit www.rm2.com