Directors Interests & Board Appointment

RNS Number : 1049G

TEG Group (The) PLC

25 June 2012

 



25 June 2012

The TEG GROUP PLC (TEG/L)

("TEG" or "the Company")

Directors Interests & Board Appointment

The TEG Group Plc, the AIM-listed cutting edge green technology company, which develops and operates organic composting and energy plants, announces that 66,940,435 New Ordinary Shares have today been admitted to trading on AIM pursuant to the Open Offer.

The Company now has 184,379,795 Ordinary Shares of 1p each in issue.

Director's Interests

Michael Fishwick, Chief Executive, participated in the Open Offer and his interest in the Ordinary Shares of the Company is now as follows:

	Shareholding prior to the Open Offer	% of issued share capital held prior to the Open Offer	Uptake under the Open Offer	Shareholding following Admission	% of issued share capital held following Admission
Michael Fishwick	128,857	0.11%	166,666	295,523	0.16%

Open Offer fees

Pursuant to the arrangements entered into for the Open Offer and as set out in the Circular, the Major Shareholders have agreed to subscribe for further shares in the Company at the Offer Price in respect of certain of their fees which they are due.  The Company has therefore issued a further 3,215,519 new Ordinary Shares to the Major Shareholders.

Pursuant to the engagement letter with N+1 Brewin and as set out in the Circular, the Company has issued 833,333 new Ordinary Shares at the Offer Price to N+1 Brewin.

Application will therefore be made to the London Stock Exchange for admission of 4,048,853 new Ordinary Shares. It is expected that admission will become effective and that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 29 June 2012. Following admission the Company will have 188,428,648 Ordinary Shares in issue.

Board Appointment

Following the passing of the Resolutions and as announced on 22 June 2012, John Rory Hamilton Maw (aged 47), has been appointed to the Board as a non-executive Director as a nominee of Bridges Ventures LLP.  Mr. Maw is a Partner and the current Chief Financial Officer of Bridges Ventures LLP.

Mr. Maw has 15 years' corporate finance experience with Schroders and Morgan Stanley, focusing mainly on the consumer products and private equity sectors. In addition to his responsibilities for compliance and financial control and reporting as CFO of Bridges Ventures, Mr. Maw is actively involved in certain of the portfolio companies.  Mr. Maw has a MA in Economics from Trinity College, Cambridge. He is Vice-Chairman of Guy's & St Thomas' NHS Foundation Trust and is also a Trustee of the Guy's & St Thomas' Charity.

The following further details are given in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies in relation to Mr. Maw's appointment:

Current directorships/partnerships

Bridges Ventures LLP

Bagnall Court Limited

Cheriton Park Hotel Limited

GSTC Health Investments Limited

GSTC Health Innovations Limited

St Thomas' Hospital Nominees

Guy's Hospital Nominees

Guy's & St Thomas' Enterprises Limited

Previous directorships/partnerships for the past five years

Bridges Capital Limited

Bridges Community Ventures Nominees Limited

Bridges Community Ventures (General Partner) Limited

Bridges Community Development Fund II (General Partner) Limited

Bridges Community Ventures (Scotland) Limited

Bridges Community Development Fund II (Scotland) Limited

Bridges Social Entrepreneurs Fund (General Partner) Limited

Bridges Social Entrepreneurs Fund (Scotland) Limited

Bridges Sustainable Property Fund (General Partner) Limited

The Careplaces (General Partner) Limited

UK Healthcare Property Fund (Scotland) Limited

School Stickers Holdings Limited

School Stickers Limited

GBF 2003 First Limited Liability Partnership

Well Heeled Shoes Limited

Box Media Limited

There is no other information that requires to be included in accordance with Rule 17 and Schedule 2 (g) of the AIM Rules for Companies in relation to Mr. Maw's appointment.

This announcement should be read in conjunction with the full text of the Circular posted to Shareholders on 6 June 2012, copies of which are available on the Company's website at www.theteggroup.plc.uk . Capitalised terms in this announcement have the same meaning as given in the Circular.

Contact:

The TEG Group Plc	Tel: [phone]
Michael Fishwick, Chief Executive	www.theteggroup.plc.uk
Peckwater PR	Tel: [phone]
Tarquin Edwards	[e-mail]
N+1 Brewin (NOMAD and Broker)	Tel : [phone]
Andrew Craig / Ben Wright

 

END

 

 

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