Starvest PLC Issue of Equity, TVR and Directors' Holdings (7418M)

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RNS Number : 7418M

Starvest PLC

17 October 2016

Monday 17 October 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 725,000 new ordinary shares of GBP0.01 in the Company ("Ordinary Shares") at a price of 2.00p per Ordinary Share to its directors in lieu of a proportion of fees for the three months ended 30 September 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                500,000       2,015,872            5.00% 
 John Watkins 
  Note 1                225,000       2,142,142            5.31% 
 

Note 1: 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 21 October 2016.

Following admission, the Company's enlarged share capital will comprise 40,343,446 Ordinary Shares. Therefore the total number of Ordinary Shares with voting rights is 40,343,446. 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 Guidance and Transparency Rules.

 
 Callum N Baxter 
  Chairman & Chief Executive 
  17 October 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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October 17, 2016 10:21 ET (14:21 GMT)