Telford Homes Regulatory News (TEF)

22 Nov 2005 07:03

Telford Homes PLC22 November 2005 Telford Homes Plc ("Telford Homes" or the "Company") Issue of equity and Directors' interests On 22 November 2005, the Company issued and allotted fully paid 80,000 newordinary shares of 10p each ("Ordinary Shares") following the exercise ofoptions under the Company's Inland Revenue approved share option scheme. Twoemployees, including the Financial Director, Jon Di-Stefano, each exercisedoptions to purchase 40,000 shares at 75p per share. Application has been madefor the new Ordinary Shares to be admitted to trading on AIM and dealings areexpected to commence on 29 November 2005. The Company further announced earlier today that certain directors of theCompany are increasing their interest in the Company's equity through theiracquisition of Ordinary Shares from Andrew Wiseman and James Furlong, founderdirectors. Pursuant to agreements dated 22 November 2005 for the sale of Ordinary Shares ("Sale Agreement"), Sheena Ellwood and Jon Di-Stefano, both directors of theCompany and Mark Parker, a member of the senior management team have today eachacquired 100,000 Ordinary Shares from Andrew Wiseman and James Furlong. Under afurther Sale Agreement, Nick Drew, also a member of the senior management team,acquired 50,000 Ordinary Shares from Andrew Wiseman and James Furlong. AndrewWiseman and James Furlong have each sold 175,000 Ordinary Shares. The price atwhich the Ordinary Shares were traded was 150p per share. Under the terms of the Sale Agreements, the purchases of Ordinary Shares havebeen satisfied by an initial payment of 15p per share with the balance due to bepaid by 22 November 2010 and, in the event that the buyer wishes to reverse thetransaction, the shares acquired will revert to the seller and any sums paid bythe buyer will be repaid. The resulting interests of these directors in the issued share capital of theCompany are as follows: Director No of Ordinary No of Ordinary Resulting holding Percentage of issued Shares acquired Shares disposed of Ordinary Shares share capital Andrew Wiseman 175,000 2,173,446 7.32%James Furlong 175,000 1,040,113 3.50%Jon Di-Stefano 140,000 253,353 0.85%Sheena Ellwood 100,000 217,353 0.73% 22 November 2005 This information is provided by RNS The company news service from the London Stock Exchange