betinternet.com PLC
13 December 2002
betinternet.com plc ('betinternet' or the 'Company')
Additional Listing and Directors' Interests
The Company announces the issue of 8,000,000 ordinary shares of 1p each pursuant
to a subscription agreement described in the circular to shareholders dated 17
November 2001. These shares are the third and final tranche of shares to be
subscribed by Burnbrae Limited (7,500,000 shares) and Mark Child (200,000
shares), a director of the Company. The terms of the subscription agreement
allow Mark Child to procure an alternative subscriber and as such, the balance
of 300,000 shares have been issued to a third party. The ordinary shares
qualify for the bonus issue of 1 warrant in respect of every 4 ordinary shares
held, as such Burnbrae Limited qualifies to receive 1,875,000 warrants and Mark
Child qualifies to receive 50,000 warrants. The third party subscribing for
shares is eligible to receive 75,000 warrants.
As a result of this transaction, Mark Child is now interested in a total of
1,350,000 ordinary shares, which represents 1.15% of betinternet's issued share
capital.
Jim Mellon, whose appointment as non-executive Chairman of the Company on 1
January 2003 was recently announced, is a beneficiary of a trust which holds the
entire issued share capital of Burnbrae Limited. Burnbrae Limited is interested
in 25,000,000 ordinary shares in betinternet which represents 21.4% of the
Company's issued share capital. Separately, Mr Mellon is also interested in
18,000 ordinary shares in the Company.
Application has been made for the new ordinary shares, which rank pari passu
with existing ordinary shares, and the warrants to be admitted to trading on the
Alternative Investment Market of the London Stock Exchange. It is expected that
admission will become effective and dealings will commence on 17 December 2002.
This information is provided by RNS
The company news service from the London Stock Exchange
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