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Directors' Dealings and Exercise of Share Options

24 Jun 2015 13:29

RNS Number : 1155R
WYG Plc
24 June 2015
 

24 June 2015

 

WYG plc

("WYG" or "the Group")

 

Directors' Dealings, Exercise of Share Options & Total Voting Rights

 

 

WYG announces that it has issued and allotted 1,372,874 new ordinary shares of 0.1 pence each ("Ordinary Shares") following the exercise of share options previously vested under the Group's Transformation Incentive Plan.

 

As a result of the exercise, 647,058 Ordinary Shares were issued to Sean Cummins, Group Finance Director and 647,058 Ordinary Shares were issued to Graham Olver, Chief Operating Officer.

 

The Group also announces that, following the option exercise, Mr Cummins sold 304,117 Ordinary Shares at a price of 111p per Ordinary Share in order to settle the tax liability arising from his option exercise. He has transferred the balance of 342,941 Ordinary Shares to his wife, Debra Cummins. Mr Cummins also transferred for nil consideration the 15,144 Ordinary Shares previously registered in his name to his wife, Debra Cummins. Mr Cummins' beneficial interest in the Company is 358,085 Ordinary Shares, representing 0.52% of the issued ordinary share capital.

 

Mr Olver sold all of the 647,058 Ordinary Shares issued to him at a price of 111p per Ordinary Share. Mr Olver has no beneficial interest in the Company.

 

Mike McTighe, chairman, and Paul Hamer, CEO, continue to hold all of their vested share options, totalling 787,581 and 1,437,906 respectively, at this time.

 

Application has been made to the London Stock Exchange for the new Ordinary Shares issued to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. on 30 June 2015. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Company.

 

Following Admission, the Company's enlarged issued share capital and total number of voting rights will be 68,384,528 Ordinary Shares. There are no shares held in treasury.

 

This figure of 68,384,528 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they may determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Contacts:

WYG plc

Paul Hamer, Chief Executive Officer

Sean Cummins, Group Finance Director

 

Tel: 0113 278 7111

MHP Communications

John Olsen / Katie Hunt / Ollie Hoare

 

Tel: 020 3128 8100

N+1 Singer

Sandy Fraser / Nick Owen

 

Tel: 020 7496 3000

WH Ireland Limited

Andrew Kitchingman / Liam Gribben

 

Tel: 0113 394 6600

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
RDSBDGDLSDDBGUS
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