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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Safestyle Uk Plc | LSE:SFE | London | Ordinary Share | JE00BGP63272 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.32 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Manufacturing Industries,nec | 154.32M | -6.51M | -0.0469 | -0.07 | 444.37k |
TIDMSFE
RNS Number : 9365P
Safestyle UK PLC
01 June 2018
1 June 2018
Safestyle UK PLC
("Safestyle" or the "Group")
Discharge of Loan and Security
Safestyle UK plc, the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market, announces that it has been informed that on 20 January 2014 Steve Birmingham, Executive Director, entered into an agreement (the "Loan Agreement") with Mr Mitu Misra pursuant to which Mr Misra lent Mr Birmingham GBP1,555,556 (the "Loan"). Pursuant to the Loan Agreement, Mr Birmingham agreed, inter alia, to grant to Mr Misra a charge over 1,555,556 shares in the capital of the Company (the "Shares") by way of legal mortgage (the "Security"). In addition, pursuant to the Loan Agreement, Mr Misra had the option for repayment of the Loan to be satisfied in full in cash or by the transfer to him of the 1,555,556 Shares or by some combination of cash and Shares (the "Option").
Mr Misra was the founder and majority shareholder of the Company who exited fully through the Company's IPO in December 2013.
On 18 December 2017, the Company announced that Mr Birmingham had sold 1,400,000 ordinary shares of GBP0.01 each ("Ordinary Shares") in the Company at a price of 160p (the "Sale"). Mr Birmingham has informed the Company that the proceeds of the Sale were paid over in full to or at the direction of Mr Misra and that this was in order to fully repay the Loan and in order to fully discharge Mr Birmingham's other obligations under the Loan Agreement in order to release the Security and Option.
The grant of the Security and Option, and the discharge of these obligations, constituted share dealings and should therefore have been notified to shareholders at the appropriate time of each dealing.
Mr Birmingham has confirmed that following the Sale, as announced on 18 December 2017, Mr Birmingham has an interest in 2,799,846 Ordinary Shares, representing 3.38 per cent. of the Company's issued share capital.
Enquiries:
Safestyle UK plc via FTI Consulting Mike Gallacher, Chief Executive Officer Zeus Capital (Nominated Adviser & Joint Tel: 0203 829 5000 Broker) Nick How / Dominic King / Richard Short Liberum Capital Limited (Joint Broker) Tel: 0203 100 2100 Neil Patel / Jamie Richards FTI Consulting (Financial PR) Tel: 0203 727 1000 Alex Beagley / James Styles / Laura Saraby
About Safestyle UK plc
The Group is the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market. For more information please visit www.safestyleukplc.co.uk or www.safestyle-windows.co.uk.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
June 01, 2018 02:00 ET (06:00 GMT)
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