Directors Share Dealings

RNS Number : 6096W

Spice PLC

30 July 2009

 



30 July 2009

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

Spice, the provider of Total Utility Support Services, has today been notified of the following share dealings by Directors.

Andy Catchpole, Distribution Director of Spice, has exercised 1,000,000 share options, and then sold 800,000 of those shares at £0.704 per share, under the Company's non-approved and approved share option plans. Andy Catchpole's revised shareholding in Spice, including connected parties, has increased to 1,045,715 ordinary shares of 2 pence each (representing approximately 0.3 per cent. of the ordinary issued share capital of the Company). The option exercise price per share was £0.436 and the total option cost was £436,000, before taking account of payroll taxes. After taking account of the exercise of share options, the total number of options held by Andy Catchpole under all option schemes is 19,315. 

Oliver Lightowlers, Group Finance Director of Spice, has exercised 625,000 share options, and then sold 507,500 of those shares at £0.706 per share, under the Company's non-approved and approved share option plans. After then transferring 117,500 shares to his spouse at £nil per share on 30 July 2009, Oliver Lightowlers' revised shareholding in Spice, including connected parties, has increased to 293,865 ordinary shares of 2 pence each (representing approximately 0.1 per cent. of the ordinary issued share capital of the Company). The average option exercise price per share was £0.2352 and the total option cost was £147,000, 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 3,519,140. 

In each case, these option exercises have been timed to best manage the tax affairs of Oliver Lightowlers and Andy Catchpole.

This disclosure has been made for the purposes DTR 3.1.4(1) (a) and in respect of Mr Rigby only, for the purposes of DTR 5.8.12. The transactions took place in Leeds and London.  All of the above option exercises were satisfied from existing shares held within the Company's Employee Benefit Trust.

                    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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