Pathfinder Properties PLC
03 October 2005
FOR IMMEDIATE RELEASE 3 OCTOBER 2005
PATHFINDER PROPERTIES PLC
('Pathfinder Properties', 'Pathfinder' or 'the Company')
DIRECTORS' DEALINGS
RELATED PARTY TRANSACTION
The Company announces today that Kerrington Limited and Sunnyview Limited have
each purchased 1,821,352 Ordinary Shares from the Company-held treasury shares
at a price of 6p per share.
The transaction is a 'Related Party Transaction' under the Rules of the London
Stock Exchange plc governing AIM ('the AIM Rules'). Following the purchases
detailed above, Kerrington Limited, a company controlled by Mr G. Lee, Director
owns 11,795,780 Ordinary Shares in the Company and Sunnyview Limited a company
owned by Messrs. E. and J. Azouz, Directors owns 11,795,780 Ordinary Shares in
the Company, representing 14.75 per cent and 14.75 per cent respectively of the
Company's issued share capital. In accordance with the AIM Rules, John Davies,
as the independent Director having consulted with the Company's Nominated
Adviser, Beaumont Cornish Limited, considers that the terms of the transaction
are fair and reasonable insofar as the Company's Shareholders are concerned.
The £218,562 raised for Pathfinder by the sale of the Company-held Treasury
Shares will provide the Company with much-needed working capital.
This information is provided by RNS
The company news service from the London Stock Exchange
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