Exercise of Warrants and PDMR

RNS Number : 8341H

Breedon Aggregates Ld

03 June 2011

 



3 June 2011

Breedon Aggregates Limited (the "Company")

Exercise of Warrants and PDMR

The Company announces that it has received notice to exercise warrants over 7,002,287 ordinary shares of no par value ("Ordinary Shares") from AIB Venture Capital Limited at an exercise price of 12 pence per Ordinary Share. Accordingly, the Company will issue, in aggregate, 7,002,287 new Ordinary Shares in settlement of this exercise (the "Warrant Exercise").  These warrants were issued in August 2010 as part of the reverse acquisition of Breedon Holdings Limited. 

All the new Ordinary Shares have been acquired by a range of new and existing shareholders, including Directors and management of the Company.  These new Ordinary Shares will rank pari passu with the existing Ordinary Shares and application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence at 8.00 a.m. on 9 June 2011.

The Company also announces that on 2 June 2011 the directors of the Company listed below acquired the number of ordinary shares of no par value each ("Ordinary Shares") set against their name for the consideration detailed below:

Name	Number of Ordinary Shares acquired	Price paid (per share)	Ordinary Shares held following the transaction	Percentage of Total Voting Rights following the transaction
Peter Tom CBE	1,500,000	16.5p	32,183,333	5.74%
David Williams	1,000,000	16.5p	13,012,133	2.32%
David Warr	1,000,000	16.5p	3,500,000	0.62%
Susie Farnon	10,160	16.5p	1,000,000	0.18%

Following the Warrant Exercise, there will be 561,005,454 Ordinary Shares in issue. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the company.

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More about Breedon Aggregates

Breedon Aggregates Limited is the largest independent aggregates group in the UK after the five global majors. It operates 23 quarries, 18 asphalt plants and 27 concrete plants in England and Scotland and employs approximately 700 people.

The group has strong asset backing, with approximately 180 million tonnes of mineral reserves and resources in the UK, providing an estimated life of approximately 50 years at current output levels.

Breedon Aggregates' strategy is to grow through consolidation of the UK heavyside building materials sector.

For further information:

Breedon Aggregates Limited

Simon Vivian, Group Chief Executive

Ian Peters, Group Finance Director

01332 694010

Stephen Jacobs, Head of Communications

07831 764592

Cenkos Securities plc

Nicholas Wells/Max Hartley

020 7397 8900

 

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