MSW Technology PLC
1 February 2000
MSW TECHNOLOGY PLC
DIRECTORS' SHAREHOLDINGS
Following completion of the Rights Issue, MSW Technology plc announces that
the interests of the Directors of the Company, which have been notified to the
Company pursuant to Sections 324 or 328 of the Companies Act 1985 ('the Act'),
and of all persons connected with the Directors (within the meaning of Section
346 of the Act), in ordinary shares of 5p each ('Ordinary Shares') and
warrants to subscribe for Ordinary Shares at a price of 78p per Ordinary Share
('Warrants'), which would if the connected person were a Director be required
to be disclosed under the Act, are as follows:
Name No of Ordinary Percentage of No of Percentage of
Shares Share Capital Warrants Warrants
J I Lang 110,000 (*) 0.89% 50,000 2.44%
R M Drummond 957,400 (**) 7.70% 140,400 6.85%
R Wakefield 1,301,650 10.47% 25,000 1.22%
S C Thorne 158,400 1.27% 26,400 1.29%
J Debnam 260,800 2.10% 126,800 6.18%
Notes:
(*) Mr Lang holds 5,000 Ordinary Shares and 2,500 Warrants less than
anticipated in the Company's Prospectus dated 29 November 1999 relating to the
Rights Issue ('the Prospectus'). A senior employee of the Company subscribed
for these Ordinary Shares and Warrants.
(**) Mr Drummond is interested in 57,500 Ordinary Shares and 28,750 Warrants
less than anticipated in the Prospectus because, in accordance with his
undertaking to the Company, he procured subscribers for some of his
entitlement to Ordinary Shares and Warrants under the Rights Issue. Those
subscribers were not connected with him within the meaning of Section 346 of
the Act. The interests of Mr Drummond include 335,550 Ordinary Shares and
65,925 Warrants held by Darien Management Limited, a company which is owned by
trustees of a trust of which Mr Drummond is a member of a class of
discretionary beneficiaries, but which is not connected with Mr Drummond
within the meaning of Section 346 of the Act.
For Further Information:
MSW TECHNOLOGY PLC GCI FOCUS GROUP LIMITED
Robert Drummond, Chief Executive Susy Streeter, Associate Director
0207 462 3300 0207 398 0800
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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