9 Jan 2009 11:49
Issue of Equity
Nasstar Plc ("Nasstar" or "the Company", AIM: NASA) announces that today an application has been made for the admission of 120,000 new Ordinary Shares of 1p each to trading on AIM with admission expected to occur on 15 January 2009.
The shares have been issued to Kevin Bird, a Director of the Company, as the final part of the deferred consideration for the acquisition of Network Support International Limited trading as Virtual Email. Network Support International Limited was acquired by Nasstar on 8 December 2006 for a total consideration (including deferred consideration) of £890,000, payable in cash and Ordinary Shares of Nasstar. Kevin Bird joined the board of Nasstar at completion of the acquisition.
Following admission Kevin Bird will have an interest in 1,403,216 Ordinary Shares representing 8.65% of the Company's issued share capital.
Following the issue of these Ordinary Shares, which will happen conditionally on Admission, the Company will have 16,216,556 Ordinary Shares in issue.
For further information, please contact:
Nasstar Plc 0870 240 1634
Charles Black, Chief Executive
Ambrian Partners Limited 0207 634 4700
Samantha Harrison
NASA.L (NASA)