Issue of Deferred Considerati

RNS Number : 5995V

Arcontech Group PLC

14 July 2009

 



ARCONTECH GROUP PLC 

('Arcontech' or the 'Group')

Issue of Deferred Consideration

Arcontech (AIM: ARC), announces the issue of 18,236,927 new ordinary shares of 0.1p each as deferred consideration in relation to the purchase of Arcontech Limited in August 2007.

The deferred consideration payment was calculated as £200,606, and the number of new ordinary shares issued was calculated using a share price of 1.1 pence, as per the share purchase agreement dated 6 August 2007.

6,078,975 of these new shares are being issued to Andrew Miller, Chief Executive of Arcontech Group Plc who was one of the vendors of Arcontech Limited in August 2007.  Including the new shares, Andrew Miller will own 28,855,975 ordinary shares representing 3.82 per cent of the enlarged issued share capital.

The new shares will be admitted to trading on AIM on the 17 July 2009.

Following the issue of the deferred consideration there will be 754,679,870 ordinary shares in issue.

For further information please visit www.arcontech.com or contact:

Arcontech Group PLC Andrew Miller, Chief Executive Richard Last, Chairman	020 7256 2300 01608 683 108
Astaire Securities Plc Shane Gallwey	020 7448 4400

 

END

 

 

IOERJMTTMMIBTLL