Director/PDMR Shareholding

RNS Number : 6292Y

Spice PLC

07 September 2009

 



7 September 2009

Share dealings by a Director of Spice plc ("Spice" or "the Company")

Spice, the provider of Total Utility Support Services, was notified on 4 September 2009 of the following share dealings by a Director, all of which took place on 4 September 2009.

Oliver Lightowlers, Group Finance Director of Spice, has exercised 3,125,000 share options, and then sold 2,400,000 of those shares at £0.71 per share, under the Company's non-approved and EMI share option plans. After then transferring 725,000 shares to his spouse at £nil per share on 4 September 2009, Oliver Lightowlers' revised shareholding in Spice, including connected parties, has increased to 1,018,865 ordinary shares of 2 pence each (representing approximately 0.3 per cent. of the ordinary issued share capital of the Company). The average option exercise price per share was £0.3024 and the total option cost was £945,000, before taking account of payroll taxes. After taking account of the exercise of share options, the total number of options held by Oliver Lightowlers under all option schemes is 678,644. 

This option exercise has been timed to best manage the tax affairs of Oliver Lightowlers. This disclosure has been made for the purposes DTR 3.1.4(1) (a). The transactions took place in Leeds and London. The above option exercises above were satisfied from the issue of new shares. Application for admission to the Official List of the UK Listing Authority and to trading on the London Stock Exchange plc's main market for listed securities will take place shortly.

Ends

Spice plc                                Tel: [phone]

Simon Rigby, Chief Executive Officer

Oliver Lightowlers, Group Finance Director

Financial Dynamics               Tel: [phone]

Billy Clegg

Caroline Stewart  

KBC Peel Hunt (Broker)     Tel: [phone]

Julian Blunt (Corporate finance)

Matthew Tyler (Corporate broking)  

NOTES TO EDITORS

Spice plc

Spice is a total utility infrastructure support services business.  The Group's operations were founded in 1996 and have their origins in the electricity industry, although the range of activities has since been expanded into other niche areas. The Group is organised into two divisions to match its utility customer base; a Supply Division; and a Distribution Division.  Spice's businesses have a common theme of delivering and co-ordinating infrastructure services to customers, and the technological element within the product mix has been built up significantly over the course of the last three years.

 

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