Result of General Meeting & D

RNS Number : 0931N

Sagentia Group PLC

04 June 2010

 



Sagentia Group plc ("Sagentia" or the "Company")

Result of General Meeting

&

Directors' Shareholdings

Result of General Meeting

On 18 May 2010 the Company announced that it proposed to raise, subject to certain conditions, £8.0 million (before expenses) through a placing  (the "Placing") of 20,000,000 new ordinary shares of 1 pence each (the "Placing Shares") at a price of 40p per ordinary share.

The Placing was conditional, inter alia, upon the passing of certain resolutions (the "Resolutions") by shareholders to authorise the Directors to allot additional ordinary shares for cash on a non pre-emptive basis.  Accordingly, a General Meeting was convened for the purpose of considering the Resolutions to approve these authorities. 

The General Meeting of the Company was held earlier today and Sagentia is pleased to announce that all the Resolutions put to shareholders were duly passed.

Accordingly, application has been made to the London Stock Exchange plc for admission of the Placing Shares. Trading in the Placing Shares will be effective from 8.00 a.m. on 7 June 2010. With effect from that date, the Company's total number of ordinary shares in issue will be 41,723,595 ordinary shares, each ordinary share having equal voting rights.

Directors' shareholdings

As announced on 18 May 2010, certain of the Directors of Sagentia agreed to participate in the Placing.

Martyn Ratcliffe, the Company's Chairman, and David Courtley, a non-executive Director, have respectively subscribed for 2,000,826 and 375,000 Placing Shares at the placing price of 40p.

In addition, and again as announced on 18 May 2010, certain directors have been awarded share options pursuant to the rules of the Company's unapproved share option scheme.  The share options will be allocated on the basis of 2.5 million to Martyn Ratcliffe and 1.0 million to Brent Hudson, the Company's Chief Executive Officer. These options have been issued at a price of 40 pence per ordinary share and are subject to a performance condition such that the vesting will be the later of three years from the date of grant and the share price reaching 80 pence per ordinary share for 20 consecutive trading days.

Following the above transactions, the interests of directors in the ordinary shares is as follows:

Name	Shares held	Options
Martyn Ratcliffe	12,512,906	2,500,000
Brent Hudson	65,000	1,500,000
Guy McCarthy	70,621	307,078
David Courtley	375,000	0

For further information, please contact:

Sagentia Group plc
Martyn Ratcliffe, Chairman	Tel: [phone]
Brent Hudson, CEO
Guy McCarthy, CFO
Arbuthnot Securities Limited
Nick Tulloch/Paul Gillam	Tel: [phone]

Notes for Editors:

About Sagentia

Sagentia is a technology and product development company that creates, develops and delivers business opportunities, products and services for its clients.

Established in 1986, Sagentia operates in the medical, industrial products and consumer products sectors worldwide. It develops new technologies, products and services that change the basis of competition. The company also assists business leaders to create strategies for technology, innovation and growth. 

Sagentia's resources are situated in state-of-the-art facilities in Europe, the USA, and China. The Group is listed on AIM (ti: SAG.L).

www.sagentia.com/investors

[e-mail] 

 

END

 

 

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