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Freshwater UK PLC (FWUK)

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Friday 21 November, 2008

Freshwater UK PLC

Issue of Equity

RNS Number : 6298I
Freshwater UK PLC
21 November 2008
 



21 November 2008


Freshwater UK plc (the 'Company' or 'Freshwater')

Issue of Equity


The Company has issued 489,796 ordinary shares, pursuant to the acquisition agreement between Martin Howell and Suzanne Howell, together 'the vendors' of Lynx Public Relations, and the Company dated 1 November 2007, as the deferred earn-out has been achieved. The earn-out payment of £650,000 is to be satisfied as to the issue of 489,796 new ordinary shares at 49p pence per share and the payment of £410,000 in cash.  The vendors are no relation to Steve Howell, Chief Executive of Freshwater.


Of this equity issue, 465,306 new ordinary shares were issued to Mr. Martin Howell, at a price of 49p pence per share and 24,490 to his wife, Mrs. Suzanne Howell, at a price of 49p pence per share. Accordingly, Mr. Howell will have a beneficial interest in 599,686 ordinary shares, representing 4.59 per cent. of the current issued ordinary share capital of the Company.


These new ordinary shares will rank pari passu with the existing ordinary shares of the Company, and admission to trading in the new shares is expected to commence on 26 November 2008. Following the exercise of these shares, the Company will have 13,058,810 ordinary shares in issue each share holding one voting right.

 


Freshwater UK


Steve Howell, Chief Executive


Tel: 029 2054 5383


Charles Stanley Securities (Nominated Adviser)

Mark Taylor/ Freddy Crossley



Tel: 020 7149 6000



This information is provided by RNS
The company news service from the London Stock Exchange
 
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