Steppe Cement Regulatory News (STCM)

5 Jul 2007 08:01

Steppe Cement Limited05 July 2007 Steppe Cement Limited Sales of Shares by Director and Significant Shareholders Steppe Cement Limited ("the Company") has been advised by significantshareholder, David Crichton-Watt that his family's interest in Steppe CementLimited shares has been reduced to 15,221,300 shares (13.3%) through on marketsales of 5,000,000 shares at £3.35 each on 4 July 2007, 250,000 shares at £3.47on 3 July 2007, 58,000 shares at £3.35 also on 3 July 2007 and a further 500,000shares between 22 May and 21 June 2007 at various prices. The Company has also been advised that entities controlled by significantshareholder, Azmi Wan Hamzah, have reduced their shareholding to 15,294,310(13.4%) through on market sales of 7,800,000 shares at £3.35 each on 4 July 2007and 840,000 shares between May 2006 and June 2007 at various prices. Director, Javier del Ser Perez, has advised the Company that he has reduced hisshareholding in the Company to 7,110,800 (6.2%) through on market sales of3,900,000 shares at £3.35 each on 4 July 2007. As a consequence of these sales the combined interests of the above threeshareholders has reduced to approximately 33%. All three share sell downs havebeen approved by the European Bank for Reconstruction and Development (EBRD)with which the Company has an existing loan arrangement. The Company's Nominated Adviser is RFC Corporate Finance Ltd, contact: Steve Allen, ph: +61 8 9480 2500 This information is provided by RNS The company news service from the London Stock Exchange