Exercise of Options

RNS Number : 0579A

Cinpart PLC

01 October 2009

 

1 October 2009

CINPART PLC

('Cinpart' or the 'Company')

Exercise of Options

The Company announces that, following the exercise of various employee options, it has issued, conditional on admission, 1,302,265 ordinary shares of 1p each in the capital of the Company.

Philip Palmer, Chairman of the Company, has exercised options over 27,777 ordinary shares at a price of 7.5 pence per share and over 29,761 ordinary shares at a price of 7 pence per share. The new ordinary shares to be issued in respect of the exercise of Mr Palmer's options will be held via Consortia Trustees Limited on behalf of a discretionary trust, the beneficiaries of which include the family of Mr Palmer. Following the issue, Mr Palmer will be beneficially interested in 3,139,346 ordinary shares, equivalent to 3.99 per cent. of the voting share capital of the Company, including those shares held via Consortia Trustees Limited.

In addition, options over 1,244,727 ordinary shares have been exercised by two former employees of the Company.

Application has been made for these shares to be admitted to trading on AIM and dealings are expected to commence on 8 October 2009. Following the issue of these shares the Company will have 78,594,398 ordinary voting shares in issue.

Enquiries:

Cinpart
Christopher Foster, Executive Director	Tel: [phone]
Kevin Baker, Chief Executive	Tel: [phone]
John East & Partners Limited, a subsidiary of Merchant Securities Plc (Nomad)
John East/Simon Clements	Tel: [phone]
Mirabaud Securities LLP (Joint Broker)
Rory Scott	Tel: [phone]
Rivington Street Corporate Finance Limited (Joint Broker)
Monisha Varadan	Tel: [phone]
Hansard Group (Public Relations)
Vikki Krause	Tel: [phone]

 

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