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16 Mar 2010 07:00
XCHANGING PLC NOTIFICATION OF INTERESTS OF PDMR AND CONNECTED PERSONS
This notification is made in accordance with DTRs 3.1, 5.1.2 and 5.6.
Exercise of Share options and issue of shares
On 15th March 2010, 2,265,959 ordinary shares of 5 pence each ("Shares") in Xchanging plc ("Xchanging") were issued following the exercise of options by employee option holders. Consequently, the issued share capital of Xchanging has increased from 237,116,600 (the "Pre Options Share Capital") to 239,382,559 (the "Post Options Share Capital").
Richard Houghton
As part of this option exercise event, Richard Houghton, CFO of Xchanging and a Person Discharging Managerial Responsibility, exercised the following options over Shares:
|
Option Scheme |
Date of option exercise |
Option exercise price |
Number of Shares acquired following exercise
|
|
Xchanging Group Unapproved Share Option Plan |
15th March 2010 |
£0.332 |
414,820 |
|
Xchanging Group Unapproved Share Option Plan |
15th March 2010 |
£0.9351 |
500,000 |
In connection with this option exercise and solely for the purpose of funding the exercise cost and tax liability which arose on exercise, Richard Houghton also sold the following Shares:
|
Date of Share sale |
Number of Shares sold |
Sale price |
|
15th March 2010 |
596,160 |
£2.08 |
Richard Houghton's option exercise and related Share sale, has increased his total shareholding in Xchanging from 1,420,200 Shares (0.599% of the Pre Options Share Capital) prior to the options exercise event, to 1,738,860 Shares (0.726% of the Post Options Share Capital).
Stephen Brenninkmeijer
As a separate transaction notified to Xchanging on 15th March 2010, Stephen Brenninkmeijer, a non-executive director and a Person Discharging Managerial Responsibility, sold on 10th March 2010, 170,000 Shares in Xchanging (0.072% of the Pre Options Share Capital) at a sale price per share of £2.08. Stephen Brenninkmeijer's total Share holding following this transaction is 205,000 Shares (0.086% of the Post Options Share Capital).
David Andrews
David Andrews, CEO of Xchanging and a Person Discharging Managerial Responsibility, did not participate in the option exercise. However, as a result of the issue of Shares, David Andrews' percentage shareholding has been diluted from 8.040% (of the Pre Options Share Capital) to 7.964% (of the Post Options Share Capital). This is calculated based on David Andrews' current shareholding of 19,063,448 Shares[1].
Gary Whitaker
Company Secretary
Name of contact and telephone number for queries:
Cardew Group
Tel: +44 (0)20 7930 0777
xchanging@cardewgroup.com
Date of Notification: 16th March 2010
[1] This figure includes 400,000 Shares held by the Trustees of the David William Andrews Discretionary Trust. Please note that the announcement released on 9th March 2010, relating to a transfer of 700,000 Shares by David Andrews, incorrectly stated that his shareholding following that transfer was 19,238,448. This number did not take into account the transfer of 175,000 Shares by David Andrews to Mrs Sylvia Andrews on 23rd December 2009 (and notified to the market on that date).
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