Joint Share Ownership Plan

RNS Number : 8290D

Anglo Pacific Group PLC

29 March 2011

 

News Release

March 29, 2011

Anglo Pacific Group PLC

Joint Share Ownership Plan

Anglo Pacific Group PLC ('the Company', 'Anglo Pacific') (LSE: APF) (TSX: APY) announces that, on March 28, 2011 it issued 356,208 new shares at a price of 326p per share to the Anglo Pacific Group Employee Benefit Trust ('EBT') in accordance with the Anglo Pacific Group Joint Share Ownership Plan ('JSOP'). 

At the Annual General Meeting of Anglo Pacific on April 21, 2010 shareholders approved resolution No. 12, establishing the JSOP including the formation and operation of the EBT, the main features of which were summarised in Appendix 2 and Appendix 3 respectively of the Notice to the Meeting.

Under the JSOP rules, the directors Chris Orchard, Matthew Tack and John Theobald each acquired 77,837 shares at a price of 326p, in co-ownership with the EBT.  The balance of the shares issued were acquired by other employees.  Under the JSOP rules the minimum vesting period for the shares is 3 years.

The 356,208 new shares rank pari passu in every respect with the existing issued ordinary shares in the Company.  Application has been made to the UK Listing Authority, the London Stock Exchange and the Toronto Stock Exchange for these shares to be admitted to the Official List. 

The Company also wishes to announce that, subject to receipt of the approvals aforementioned, the Directors' shareholdings have changed as set out below:-

	At March 27, 2011	JSOP Allocation March 28, 2011	March 28, 2011	% Issued Ordinary Share Capital
M.H.Atkinson	3,922	-	3,922	0.01
P.M.Boycott	2,706,947	-	2,706,947	2.48
A.C.Orchard	269,202	77,837	347,039	0.32
M.J.Tack	285,931	77,837	363,768	0.33
J.Theobald	206,344	77,837	284,181	0.26
J.G.Whellock	13,084	-	13,084	0.01
B.M.Wides	2,926,153	-	2,926,153	2.68
A.H.Yadgaroff	164,098	-	164,098	0.15

Subject to receipt of the approvals aforementioned, for the purposes of the FSA's Disclosure and Transparency Rules, the Company advises that its issued share capital will comprise of 109,127,540 ordinary shares of 2p each.  The voting rights of all of these shares are identical with each share carrying the right to one vote.  The Company holds no shares in Treasury.  Therefore, the Company's total number of voting rights will be 109,127,540. 

The above figure (109,127,540) 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, Anglo Pacific Group PLC under the Disclosure and Transparency Rules. 

For further information:

Anglo Pacific Group PLC                                                                                [phone]

Peter Boycott, Chairman

Matthew Tack, Finance Director

Liberum Capital                                                                                              [phone]

Chris Bowman

Christopher Kololian

Scott Harris                                                                                                    [phone]

Stephen Scott

James O'Shaughnessy

Website:                                                                                                  www.anglopacificgroup.com

Important notice

This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific's expectations, estimates and projections of future events as of the date of this release. Forward-looking statements include, without limitation, statements regarding the performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of Anglo Pacific. Often, but not always, forward-looking statements can be identified by the use of words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements involve known and unknown risks, uncertainties and other factors that are beyond the Company's control and which may cause the actual results, performance or achievement to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such material factors and assumptions and risks and uncertainties include, among others, those described in the Company's annual information form dated as at June 29, 2010 (available on Anglo Pacific's website and at www.sedar.com), which are incorporated by reference into this release and qualify any and all forward-looking statements made in this release.

Although Anglo Pacific has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein relate only to events or information as of the date on which the statements are made and, except as specifically required by law, Anglo Pacific undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise.

 

END

 

 

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