BAA Update

RNS Number : 7635U

Best of the Best PLC

21 October 2010

 



Best of the Best plc

("Best of the Best" or "the Company")

BAA Update

Further to the Company's trading update on 11 October 2010 relating to the termination of its contracts with Heathrow Airport Limited ("BAA") the Board announces that BAA Enterprises Limited has today surrendered its total shareholding in the Company of 1,750,000 ordinary fully paid up shares for nil consideration, in accordance with section 659 of the Companies Act 2006. These shares will be cancelled. As a result BAA Enterprises Limited no longer holds any shares in the Company. BAA Enterprises Limited have also waived their rights to the dividend payment issued on the 16th October 2010 for its shareholding of 1,750,000 shares. In addition, the Board has agreed a compensation package with BAA in consideration of termination of the contracts and the Company having to vacate the BAA sites.

As previously stated the Directors will continue with their strategic and operational review of the business and will update shareholders in due course.

Directors Shareholding

Following the cancellation of the BAA shareholding the percentage shareholding of each of the Directors has changed as follows:

Director	Shareholding	% pre BAA cancellation	% post BAA cancellation
William Hindmarch	5,950,000	46.78%	54.25%
Michael Hindmarch	1,108,367	8.71%	10.11%
Rupert Garton	455,619	3.58%	4.15%
Colin Hargrave	15,151	0.12%	0.14%

Total Voting Rights

In accordance with the Financial Services Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 5p each in the capital of the Company in issue following the cancellation of the aforementioned shares is 10,968,258 with each share carrying the right to one vote. The above figure of 10,968,258 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

Enquiries:

Best of the Best plc

William Hindmarch, Chief Executive

Rupert Garton, Commercial Director

T: 020 7371 8866

Biddicks

Shane Dolan T: 020 7448 1000

Charles Stanley Securities

Nominated Adviser

Mark Taylor/Luke Webster T: 020 7149 6000

Please visit www.botb.com for further information

 

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