NewMedia SPARK PLC
6 April 2001
6 April 2001
NewMedia SPARK plc (the 'Company')
Notification of Acquisition of Shares by NewMedia SPARK plc 2001 Employee
Benefit Trust (the 'Trust')
The Company has been notified by Allied Trust Corporation, the trustees of the
NewMedia SPARK plc 2001 Employee Benefit Trust that they have completed the
purchase of 12,500,000 ordinary shares of 2.5p in the capital of the Company
for an average purchase price of 19.75p. Following this notification the
trustees of the Trust own 12,500,000 ordinary shares of 2.5p in the capital of
the Company which is which is 2.51% of the total issued equity share capital
of the Company.
The funds for the purchase were advanced by the Company to the Allied Trust
Corporation for the establishment of the NewMedia SPARK plc 2001 Employee
Benefit Trust for the benefit of the employees of the Company.
The trust deed associated with the Trust will empower the Trust to hold
certain assets, including ordinary shares of 2.5p in the capital of the
Company. The Trust has been established primarily in order to institute a
non-dilutive employee share option scheme for the benefit of the employees
(including the Executive Directors) of the Company.
The trustees of the Trust will distribute share options to the beneficiaries
in such number and at such time as they, in their absolute discretion, think
fit.
Contact: Joel Plasco/Alastair King - 020 7851 7777
ENDS
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