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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Straight | LSE:STT | London | Ordinary Share | GB0033695486 | 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% | 77.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSTT RNS Number : 1580S Straight PLC 06 September 2010 Date: 6 September 2010 On behalf of: Straight plc ("Straight" or "the Group") For release at 0800hrs Straight plc Directors/PDMRs' Conditional Share Awards Straight plc the recycling and products and services group announces that on 6 September 2010, in accordance with the rules of the Company's Unapproved Share Scheme (the "Scheme"), the Company made contingent share awards of ordinary shares in the Company ("Ordinary Shares"). The awards comprise a maximum conditional award of Ordinary Shares subject to the rules of the Scheme and the applicable performance target. Awards were made as follows: James Mellor Finance Director and Company Secretary 200,000 Mark Halford Operations Director 200,000 The contingent share awards are only capable of vesting if the performance targets the Remuneration Committee have attached to the awards are satisfied. The awards shall not be aggregated with existing shareholdings of the above-mentioned PDMRs unless and until the awards vest which at the earliest will be 6 September 2013. The Company also announces that application has been made for 400,000 Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). The new Ordinary Shares are being issued in connection with the above contingent share awards made under the Scheme. The new Ordinary Shares rank pari passu with the Company's existing Ordinary Shares and Admission is expected to become effective on 7 September 2010. Following Admission, the Company will have 11,899,294 Ordinary Shares in issue with each share carrying the right to one vote. The total number of voting rights in the Company will therefore be 11,899,294. There are no shares held in Treasury. -ends- For further information, please contact +----------------------------------------+----------------------+ | Straight plc | | +----------------------------------------+----------------------+ | Jonathan Straight, Chief Executive | 0113 245 2244 | +----------------------------------------+----------------------+ | | | +----------------------------------------+----------------------+ | Cenkos Securities plc | | +----------------------------------------+----------------------+ | Ivonne Cantu/Christian Hobart | 0207 397 8980 | | | | +----------------------------------------+----------------------+ | Redleaf Communications | | +----------------------------------------+----------------------+ | Rebecca Sanders-Hewett/Lucy Salaman | 0207 566 6720 | +----------------------------------------+----------------------+ Notes to Editors * Straight plc is the UK's leading supplier of specialist kerbside recycling containers as well as being a key supplier of a broad range of waste and recycling container solutions. Founded in 1993 by the current Chief Executive, Jonathan Straight, the business has since supplied more than 20 million kerbside boxes, baskets and caddies to local authorities across the UK, securing its position as the industry leader. * The business operates through two divisions. The core Trade Business supplying products in bulk to local authorities, utilities, the waste industry, retailers and other businesses and the Retail Business supplying a range of proprietary environmentally friendly consumer products directly to the public, often in partnership with a local authority or a utility. * In 2010 two acquisitions changed the business model, which previously relied on outsourced manufacture. In March 2010 Straight acquired the business and assets of the UK business of Helesi plc giving it a proprietary position in the wheeled bin market. This was followed in August 2010 by the acquisition of Powell Plastics, a key supplier of injection moulded products to the group. * In February 2009, Straight added to its portfolio with the acquisition of Harcostar Garden Products, a long established premium brand consisting of water butts, compost bins, watering cans and accessories. This gained new distribution channels for the business in the UK and in Europe. * In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of home composters and water butts. Through the Blackwall brand, Straight has delivered more than 3.5 million compost bins and water butts. * Almost 2/3 of the products supplied are produced in Straight's own factory and there are plans to expand this facility in the near future. * Straight plc has established diverse overseas sales channels for its products, some of which are manufactured locally to their markets in North America and in Australia. Other markets are serviced from UK production. * Further information about the company and its products can be found at: www.straight.co.uk This information is provided by RNS The company news service from the London Stock Exchange END RDSSSFFIDFSSESU
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