Exercise of Options and Directors' Shareholdings

RNS Number : 7394Q

Eckoh PLC

02 March 2016

 

For Immediate Release

2 March 2016

Eckoh plc

("Eckoh", the "Group" or the "Company")

Exercise of Options and Directors' Shareholdings

Eckoh announces that it has issued 11,918,574 new ordinary shares in the capital of the Company (the "New Shares") following an exercise of share options by Nik Philpot; Chief Executive Officer of the Company, Adam Moloney; Group Finance Director, (together, the "Directors") and certain other employees of the Company. Application will be made to the London Stock Exchange for the New Shares to be admitted to trading on AIM, with dealings expected to commence on 15 March 2016 ("Admission").

As a result of these transactions, the holdings of both Directors have increased considerably, as follows:

·   Nik Philpot was issued 6,620,975 New Shares. Having notified the Company that 5,620,975 of these New Shares were sold on 1 March at a price of 41 pence per share to fund the costs of the exercise, Nik has increased his holding in the Company by 21.3% to 5,704,873 ordinary shares, which will represent 2.4% of the Company's total voting rights, as enlarged following Admission.

·    Adam Moloney was issued 3,764,352 New Shares. He also notified the Company that 3,237,057 New Shares were sold on 1 March at a price of 41 pence per share to fund the costs of the exercise. Therefore, as a result of the exercise, Adam's holding in the Company has increased by 73.0% to 1,250,000 ordinary shares, which will represent 0.5% of the Company's total voting rights, as enlarged following Admission.

Following Admission, the Company's will have a total of 238,307,166 Ordinary Shares in issue each carrying one voting right. The Company does not hold any Ordinary Shares in Treasury. Shareholders may use this figure of 238,307,166 Ordinary Shares 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further enquiries, please contact:

Eckoh plc                                                         Tel: [phone]

Nik Philpot, Chief Executive Officer

Adam Moloney, Group Finance Director

www.eckoh.com                                               

Buchanan                                                        Tel: [phone]

Sophie McNulty, Gabriella Clinkard, Steph Watson

www.buchanan.uk.com              

N+1 Singer                                                       Tel: [phone]

Shaun Dobson, Lauren Kettle

www.n1singer.com 

 

END

 

 

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