24 Mar 2016 13:59
Tangent Communications plc ("Tangent" or the "Company")
Share Incentive Plan transfer of shares
and
Rule 2.10 Announcement - Relevant Securities in Issue
Tangent (AIM: TNG) announces that pursuant to the Company's employee Share Incentive Plan ("SIP"), announced on 10 February 2014, it has today transferred 63,498 ordinary shares of 1 pence each ("Ordinary Shares") out of treasury to satisfy the monthly Matching Shares for participants in the SIP.
The SIP, which became effective from 1 March 2014, is an all-employee trust arrangement approved by UK HM Revenue and Customs under which employees are able to buy ordinary shares in Tangent ("Partnership Shares") using monthly deductions from salary and to receive allocations of free matching Tangent shares on a one-for-one basis ("Matching Shares").
Following the above transfer, the Company continues to have 281,429,851 Ordinary Shares in issue of which 3,572,934 are now held in treasury. The number of Ordinary Shares with voting rights ("Voting Rights") is therefore now 277,856,917.
The above figure of 277,856,917 Voting Rights may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.
Rule 2.10 Announcement
In accordance with Rule 2.10 of the Takeover Code, Tangent announces that at the date of this announcement it has 277,856,917 ordinary shares of 1 pence in issue and admitted to trading on AIM. In accordance with Rule 2.10 of the Takeover Code, this number of ordinary shares does not include the 3,572,934 which Tangent holds in treasury. The International Securities Identification Number for Tangent's shares is GB0005405849.
Tangent Communications plcTimothy Green - Chief Executive: 020 7462 6101Jamie Beaumont - Chief Financial Officer: 020 7462 6101
Canaccord Genuity Limited - Nominated adviser and broker
Bruce Garrow / Emma Gabriel: 020 7523 8350
Stockdale Securities Limited (Rule 3 Adviser to Tangent)
Tom Griffiths / Edward Thomas - +44(0) 20 7601 6100