13 Oct 2015 17:45
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
For Immediate Release
13 October 2015
Director Share Transfer
The Company has been informed that on 13th October 2015, Edmund Truell, Vice Chairman of the Company, agreed to transfer 817,802 ordinary shares in the Company to Danny Truell, a Non-Executive Director of the Company, in exchange for a total of 29.5505 A shares in Disruptive Capital Investments Limited, a private entity controlled by the Truell family.
550,000 of these ordinary shares have been transferred today with the remaining 267,802 ordinary shares expected to be settled on or before 30th November 2015.
Following this transaction, Edmund Truell and Danny Truell will have beneficial interests in 19,887,283* and 1,247,802 ordinary shares of the Company, respectively, representing 15.86% and 0.99% of the total voting rights of the Company.
* This is the total number of Edmund Truell's direct and indirect holdings. The indirect holdings are held via Disruptive Capital Investments Limited, his family vehicle.
Enquiries:
Tungsten Corporation plc. Richard Hurwitz, Chief Executive Officer Juliana Wheeler, Head of Global Communications (Media) |
+44 20 7280 7713 +44 20 7280 7973 | |
Charles Stanley Securities (Nominated Adviser and Joint Broker) Dugald J. Carlean |
+44 20 7149 6000 | |
Canaccord Genuity Limited (Joint Broker) Simon Bridges/Emma Gabriel |
+44 20 7523 8000 | |
Neustria Partners (Investors and Analysts) Robert Bailhache/Nick Henderson/Charles Gorman |
+44 20 3021 2580 | |
About Tungsten Corporation plcTungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.
Buyer organisations that join Tungsten Network, the world's largest compliant electronic invoicing network, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers options for supply chain financing and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.
Contact: Juliana Wheeler, Head of Global Communications, +44 20 7280 7973.
juliana.wheeler@tungsten-network.com