Restore Regulatory News (RST)

12 Jul 2005 13:43

Radstone Technology PLC12 July 2005 FOR IMMEDIATE RELEASE 12 July 2005 Radstone Technology PLC (the "Company") The Company has been informed that Water Lane Trustees Limited, the Trustee ofthe Radstone Technology Employee Trust, acquired a further 29,148 ordinaryshares of 12.5p each in the Company as follows: 4 July 2005 - 15,000 at £2.90 per share5 July 2005 - 5,000 at £2.90 per share7 July 2005 - 9,148 at £3.02 per share These shares represent part of the bonuses earned by senior employees which areconverted into shares. The shares are held in trust on the employee's behalffor a period of three years during which time their right to ownership is lostshould they leave the Company. Following this purchase the Trust held 134,140 shares representing 0.44% of theissued share capital of the Company. The Trustee distributed 12,520 ordinary shares of 12.5p each in the Company tocertain employees including the Directors on 11 July 2005. These alsorepresented shares held by the Trust as part of the bonuses earned by seniorexecutives of the Company in prior years, the ownership of which becameunconditional on 1 July 2005, hence triggering the distribution. In addition to, and at the same time as, this distribution, the Trust disposedof 8,010 ordinary shares at £3.07 per share in order to meet the tax andnational insurance liabilities of the beneficiaries of the Trust. Following the above disposals, the shareholdings of the Trust and the Directorsof the Company who received shares from the Trust are as follows: Name Number of Shares Current Holding % of Issued Ordinary (Disposed of)/ Share Capital Received Radstone TechnologyEmployee Trust (20,530) 113,610 0.38J L Perrin 2,098 370,705 1.22P J Cavill 2,196 100,326 0.33 This information is provided by RNS The company news service from the London Stock Exchange