14 Nov 2012 17:00
Telford Homes Plc
("Telford Homes" or the "Company")
Issue of Equity
The Company announces that it has, today, made application to the London Stock Exchange for the admission to trading on AIM of 400,000 new Ordinary Shares of 10p each ("New Shares").
Of the shares being issued 99,000 New Shares are being issued to employees at a price of 64p per share to satisfy options exercised by employees prior to the establishment of the Telford Homes Employee Benefit Trust ("EBT"). No directors or applicable employees were involved in these option exercises.
The remaining 301,000 New Shares are being issued at a price of 64p per share to Telford Homes Trustee No2 Limited (the "Trustee") following receipt by the Company of a subscription letter for this amount. These shares will be held by the Trustee under the terms of the EBT in order to satisfy future requirements of the Company Share Option Scheme. Directors and the applicable employees have an interest in such shares only on the basis that they are discretionary beneficiaries of the EBT.
The New Shares are expected to be admitted to trading on AIM on Wednesday 21 November 2012
Following this admission the Company's share capital and Total Voting Rights comprises 50,000,000 Ordinary Shares of 10p and the Company does not hold any shares in treasury. Consequently, 50,000,000 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Telford Homes under the FSA's Disclosure and Transparency Rules.
Enquiries:
Telford Homes Plc
Jon Di-Stefano / Katie Rogers 01992 809800
Shore Capital
Pascal Keane / Patrick Castle 020 7408 4090