Conversion of Loan Stock

3 Jan 2006 07:01

Brainspark PLC03 January 2006 For immediate release 3 January 2006 Brainspark plc ("Brainspark" or the "Company") Conversion of Loan Stock Further to the announcements made on 2 and 23 December 2005, Company has issuedand allotted a total of 138,423,912 new ordinary shares of 0.01p each ("newordinary shares") pursuant to exercise notices received in respect of the£850,000 convertible loan stock . The new ordinary shares will rank, pari passu, with the existing shares in issueand application will be made for the new ordinary shares to be admitted totrading on AIM. However, as announced on 2 December 2005, the new ordinaryshares are subject to twelve month "lock in" arrangements. The total number of ordinary shares in issue is now 330,697,003. As a result, the following changes have occurred to the Directors' holdings: New ordinary Total holding % of enlarged shares issued following issued share conversions capital Francesco Gardin 36,000,000 67,903,278 20.53Alfredo Villa 51,389,130 51,389,130 15.54Dennis Bailey 10,869,565 10,869,565 3.29(Proposed Director) In addition, the following changes have occurred to the holders of more than 3per cent. of the Company's issued share capital: New ordinary Total holding % of enlarged shares issued following issued share conversions capital Luigi Fogliani 29,481,304 29,401,304 8.89 Cross Atlantic - 33,916,050 10.26Partners Technology Fund LP* * Mr Don Caldwell, a Director of Brainspark, is founder and Chairman of CrossAtlantic. ENDS Further information Francesco Gardin, Brainspark 020 7843 9838Roland Cornish, Beaumont Cornish Limited 020 7628 3396 This information is provided by RNS The company news service from the London Stock Exchange