Director/PDMR Shareholding

RNS Number : 9199F

Judges Scientific PLC

22 June 2012

 

22 June 2012

Judges Scientific plc (the "Company")

Director/PDMR Shareholding

Judges Scientific plc announces that David Cicurel, the Company's CEO has given the required 30-day notice to (i) convert 2,907,870 convertible redeemable shares of 1p each (fully paid) in the Company into 377,229 ordinary shares of 5p each ("Ordinary Shares") and (ii) obtain redemption of 531,771 convertible redeemable shares. The amount payable to him on redemption is £329,289, which is equal to the amount receivable from him in respect of the conversion; as a consequence the combination of the two transactions is cash neutral for the Company.

After completion of the two transactions, David Cicurel will no longer own any convertible redeemable shares and his interest in the Ordinary Shares (including 82,885 held in his SIPP) will be 916,070 Ordinary Shares, amounting to 17.52% of the resulting issued ordinary share capital of 5,228,196 shares.

The remaining convertible redeemable shares are convertible into 2% of the ordinary share capital of the company.

Alex Hambro, Chairman of Judges Scientific commented: "The accounting treatment of the convertible redeemable shares under IFRS has been a cause of confusion and irritation among our shareholders; we are delighted that 83% of these shares have now been redeemed or converted well in advance of their final conversion date at the end of 2014."

Enquiries:

Judges Scientific plc

David Cicurel, CEO

01342 323 600

Shore Capital

Pascal Keane

Edward Mansfield

020 7408 4090

Cardew Group

Melvyn Marckus

07775 896491

 

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