Issue of Equity, TVR and Directors' Holdings

RNS Number : 4092F

Starvest PLC

17 May 2017

 

17 May 2017

Starvest Plc ("Starvest" or "the Company")

Issue of Equity, Total Voting Rights and Directors' Holdings

The Company is pleased to announce that it has resolved to issue a total of 754,717 new Ordinary shares of £0.01 in the Company ("Ordinary Shares") at a price of 2.12p per Ordinary Share as follows to its directors in lieu of a proportion of fees for the three months ended 31 March 2017.  The issue of new Ordinary Shares to directors is in accordance with the Company's enhanced focus on limiting the outflow of cash from the business, thereby preserving cash for investment opportunities as they present themselves.

The following table shows the number of new Ordinary Shares issued and their resultant total holdings:

Shareholder/Director name	Number of ordinary shares issued	Interest in enlarged issued share capital	% of enlarged share capital
Callum N Baxter	471,698	3,707,570	7.01%
Gemma Cryan	70,755	645,755	1.22%
John Watkins *	212,264	2,575,143	4.87%

*  Includes 1,200,000 ordinary shares held by his wife, Mrs Diane Mary Watkins.

Application will be made for the new shares to be admitted to trading on AIM with admission expected to take place on, or around, 24 May 2017.

Following admission, the Company's enlarged share capital will comprise 52,898,163 Ordinary Shares.  Therefore the total number of Ordinary Shares with voting rights is 52,898,163.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Callum N Baxter

Chairman & Chief Executive

17 May 2017

Enquiries to:

Starvest PLC

Callum Baxter  Chairman/CEO  07922 255 933  [e-mail]

John Watkins  Finance Director  07768 512 404  [e-mail]

Grant Thornton UK LLP (Nomad)

Colin Aaronson or Harrison Clarke  02073 835 100

SI Capital Ltd (Appointed Broker)

Nick Emerson or Andy Thacker  01483 413 500

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Callum Baxter
2	Reason for the notification
a)	Position/status	Chairman and CEO
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Starvest Plc
b)	LEI	2138002RU77NWA794295
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1.0p each
	Identification code	ISIN: GB0009619817
b)	Nature of the transaction	Participation in Fundraise
c)	Price(s) and volume(s)		Name Price(s) Volume(s) Callum Baxter 2.12p 471,698
d)	Aggregated information
	- Aggregated volume	471,698
	- Price	2.12 pence
e)	Date of the transaction	17 May 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Watkins
2	Reason for the notification
a)	Position/status	Finance Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Starvest Plc
b)	LEI	2138002RU77NWA794295
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1.0p each
	Identification code	ISIN: GB0009619817
b)	Nature of the transaction	Participation in Fundraise
c)	Price(s) and volume(s)		Name Price(s) Volume(s) John Watkins 2.12p 212,264
d)	Aggregated information
	- Aggregated volume	212,264
	- Price	2.12 pence
e)	Date of the transaction	17 May 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gemma Cryan
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Starvest Plc
b)	LEI	2138002RU77NWA794295
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary Shares of 1.0p each
	Identification code	ISIN: GB0009619817
b)	Nature of the transaction	Participation in Fundraise
c)	Price(s) and volume(s)		Name Price(s) Volume(s) Gemma Cryan 2.12p 70,755
d)	Aggregated information
	- Aggregated volume	70,755
	- Price	2.12 pence
e)	Date of the transaction	17 May 2017
f)	Place of the transaction	Outside a trading venue

 

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