Additional Listing

RNS Number : 6133D

Driver Group plc

08 July 2016

 

Driver Group plc

("Driver Group" or the "the Company")

Additional listing

Driver Group plc (AIM: DRV.L), the global management and advisory consultancy to construction and engineering industries, announced on 2^nd March 2016 that Dave Webster had agreed to stand down from the position of Group Chief Executive and become a Non-Executive Director.  As part of Mr Webster's employee settlement arrangements, Mr Webster is entitled to be paid 2,436,500 UAE Dirham and has agreed to apply GBP360,000 of this sum in subscribing 600,000 new ordinary shares in the Company ("New Ordinary Shares") at an issue price of 60 pence per share (being a premium of 22.5 pence per share over the closing price of the Driver shares on the AIM market of London Stock Exchange plc as at 06 July 2016).

Following this transaction, Mr Webster's beneficial holding in the Company is 2,852,088 ordinary shares, representing approximately 9.00 per cent of the Company's enlarged issued share capital.

Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will take place at 8.00 a.m. on 14 July 2016.  The New Ordinary Shares will rank pari passu with the existing ordinary shares.

Enquiries:

Driver Group plc

Gordon Wilkinson, Group Chief Executive                   

Damien McDonald, Group Finance Director            Tel [phone]

Panmure Gordon (UK) Ltd

Nominated Adviser & Broker

Dominic Morley                                                Tel [phone]

James Greenwood              

 

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