1 Apr 2015 07:00
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
For Immediate Release 1 April 2015
Market update
Purchase of Shares by a Director
London, 1 April - Tungsten Corporation plc (the "Company") has been notified that on 31st March 2015 Edmund Truell, the Chief Executive Officer of the Company, through Flexible Securities Ltd., an affiliate of Disruptive Capital Investments Ltd. (formerly Rockhopper Investments Ltd.), has acquired 70,000 shares in the Company via a contract for difference at an average price of 200.9 pence per share.
Following this transaction, Mr Truell is interested in 17,521,123* ordinary shares in the Company representing approximately 16.9 per cent of the Company's issued share capital.
* This is the total number of Mr Truell's direct and indirect holdings.
Enquiries:
Tungsten Corporation plc
Edmund Truell, Chief Executive Officer +44 20 3435 5680
Juliana Wheeler, Head of Global Communications +44 20 7280 7973
Charles Stanley Securities
(Nominated Adviser and Joint Broker)
Marc Milmo/Dugald Carlean +44 20 7149 6000
Canaccord Genuity Limited
(Joint Broker)
Simon Bridges/Peter Stewart/Cameron Duncan +44 20 7523 8000
Neustria Partners (Investors and Analysts)
Robert Bailhache/Nick Henderson/Charles Gorman +44 20 3021 2580
Equus Group (Communications)
Piers Hooper / Sam Barton/ James Culverhouse +44 20 7223 1100
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 invoice 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 supply chain financing through Tungsten Bank*; 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 48 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.
Tungsten Corporation acquired DocuSphere , a provider of accounts payable automation solutions, in September 2014.
Contact: Juliana Wheeler, Head of Global Communications, +44 20 7280 7973.
juliana.wheeler@tungsten-network.com
* Tungsten Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Tungsten Bank is registered on the financial services register with firm reference number 139209.