Starvest PLC Issue of Equity, TVR and Directors' Holdings (7154D)

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RNS Number : 7154D

Starvest PLC

08 July 2016

Friday 8 July 2016

Starvest Plc ("Starvest" or "the Company")

Issue of Equity, Total Voting Rights and Directors' Holdings

The Company is pleased to announce that it has today resolved to issue a total of 942,855 new ordinary shares of GBP0.01 in the Company ("Ordinary Shares") at a price of 1.75p per Ordinary Share to its directors in lieu of a proportion of fees for the three months ended 30 June 2016. The issue of new Ordinary Shares to directors is in accordance with the Company's enhanced focus on limiting the outflow of cash from the business at this time, thereby preserving cash for investment opportunities as they present themselves.

The following table shows the number of new Ordinary Shares issued to each director and their resultant total holdings:

 
 Director              Number of        Interest    % of enlarged 
  name                  ordinary     in enlarged    share capital 
                   shares issued    issued share 
                                         capital 
 Callum N 
  Baxter                 571,428       1,515,872            3.83% 
 Anthony C 
  R Scutt Note 
  1                      114,285         538,173            1.36% 
 John Watkins 
  Note 2                 257,142       1,917,142            4.84% 
 

Note 1: Includes 124,000 ordinary shares held as joint trustee of investor groups.

Note 2: Includes 1,200,000 ordinary shares held by his wife, Mrs Diane Mary Watkins.

Application will be made for the new shares to be admitted to trading on AIM with admission expected to take place on or around 15 July 2016.

Following admission, the Company's enlarged share capital will comprise 39,618,446 Ordinary Shares. Therefore the total number of Ordinary Shares with voting rights is 39,618,446. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 
 Callum N Baxter 
  Chairman & Chief Executive 
  8 July 2016 
 

Enquiries to:

Callum Baxter, Chairman [e-mail] or John Watkins, Finance Director 07768 512 404; [e-mail]

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 02073 835 100

Nick Emerson or Andy Thacker - SI Capital Limited 01483 413 500

This information is provided by RNS

The company news service from the London Stock Exchange

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July 08, 2016 10:06 ET (14:06 GMT)