Fusion IP PLC Issue of Equity (5537C)

TIDMFIP

RNS Number : 5537C

Fusion IP PLC

18 March 2014

FUSION IP PLC

("Fusion IP" or "the Company")

Exercise of Options

The Company announces that following the court sanction of the Scheme on 17 March 2014, Doug Liversidge exercised options over a total of 50,000 ordinary shares of 1p each in the Company ("Ordinary Shares") at an exercise price of 33.5 pence per Ordinary Share and an ex-employee exercised options over a total of 270,000 Ordinary Shares. The 320,000 new Ordinary Shares have been issued and allotted. The total number of Ordinary Shares in the Company with voting rights is 109,777,096. Following the court sanction of the Scheme announced on 17 March 2014 and the anticipated Effective Date for cancellation of the Company's admission to AIM on 20 March 2014, application will not be made for the 320,000 new Ordinary Shares to be admitted to trading on AIM.

On 17 March 2014, Mr Liversidge also exercised his options, granted on 27 January 2005, to acquire 97,756 Ordinary Shares from each of David Baynes (CEO), Stuart Gall (Commercial Director) and Peter Grant (Operations Director). Mr Baynes, Mr Gall and Mr Grant have each waived the exercise price payable by Mr Liversidge. The aforementioned Directors now have the following interests in the Company's shares:

 
 Name                          New holding of Ordinary Shares   % of enlarged issued share capital 
----------------------------  -------------------------------  ----------------------------------- 
 Doug Liversidge (Chairman)    353,268                          0.32% 
----------------------------  -------------------------------  ----------------------------------- 
 David Baynes                  1,235,576                        1.13% 
----------------------------  -------------------------------  ----------------------------------- 
 Stuart Gall                   1,235,576                        1.13% 
----------------------------  -------------------------------  ----------------------------------- 
 Peter Grant                   1,235,576                        1.13% 
----------------------------  -------------------------------  ----------------------------------- 
 

Defined capitalised terms used but not otherwise defined in this announcement have the meaning given to them in the Scheme Document dated 4 February 2014 and sent to shareholders of the Company.

18th March 2014

For further information please contact:

 
 For further information please 
  contact:                          Fusion IP +44 114 
  David Baynes, CEO                 275 5555 
 
 Bobbie Hilliam                   Cenkos [phone] 
                                   8900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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