3 Oct 2013 16:52
For Immediate Release
3 October 2013
3Legs Resources plc
Issue of ordinary shares to Directors in part payment of Directors' fees
3Legs Resources plc (the "Company") announces that it has approved the issue (the "Issue") and allocation of 39,104 Ordinary shares of 0.025 pence in the Company ("Shares") to the four non-executive Directors of the Company, in part payment of non-executive Directors' fees. As previously announced, the non-executive Directors of the Company have agreed to reduce their Directors' fees by 20% and take one third of the balance of their fees in Shares. The present Issue is in respect of the period from 1 July to 30 September 2013.
The market value of the Shares for the purposes of the Issue is calculated as their average closing middle market price for the five dealing days prior to expiry of the period to which the Issue relates, and equals 26.85 pence per Share. The total value of the Issue is £10,499.42 and upon its completion the Company will have 84,846,645 shares in issue. Details of the allocations made and the resulting non-executive Directors' shareholdings are as follows.
Name | Number of new Shares allocated | Number of Shares held following Issue | Interest in issued share capital of the Company following Issue |
Timothy Eggar | 14,897 | 494,420 | 0.58% |
David Bremner | 8,069 | 103,227 | 0.12% |
Richard Hills | 8,069 | 28,227 | 0.03% |
Rod Perry | 8,069 | 123,227 | 0.15% |
This information is given in compliance with AIM Rule 17.
For further information contact:
3Legs Resources plc | Tel: | +44 1624 811 611 |
Kamlesh Parmar, Chief Executive Officer | ||
Alexander Fraser, Chief Financial Officer | ||
Jefferies Hoare Govett | Tel: | +44 207 029 8000 |
Simon Hardy | ||
Graham Hertrich | ||
Northland Capital Partners | Tel: | +44 207 796 8800 |
Louis Castro | ||
Matthew Johnson | ||
FTI Consulting | Tel: | +44 207 831 3113 |
Oliver Winters | ||
Georgia Mann |