19 August 2008

Paycorp plc ('Paycorp' or 'the Company')

Exercise of Options - Directors' Dealings

The board announces that on 12 August 2008, it received notification that on 27 July 2008 and 4 August 2008, the first tranche of the Oppenberg Option (as defined in the admission document dated 27 March 2008 ('Admission Document')) over 115,875,000 ordinary shares of 0.1p each had been exercised in full for nil consideration. 

In addition, the board announces that on 12 August 2008, it received notification that on 27 July 2008 and 4 August 2008, the Hamilton Option (as defined in the Admission Document) over 25,000,000 ordinary shares of 0.1p each had been exercised in full for nil consideration.

The shareholdings of the Concert Party following the exercise of the above options are as follows:

	Before the exercise of the options		After the exercise of the options
The Concert Party	Number	%	Number	%
ACR Nominees Pty Limited*	459,000,000	41.13	382,927,500	34.31
Calcom Holdings Pty Limited**	391,000,000	35.04	326,197,500	29.23

Oppenberg Group Limited***                      Nil                       Nil              92,875,000             8.32

Hamilton Enterprise (Holdings) Pty Limited Nil                       Nil               25,000,000             2.24 

* as trustee for both the Roche Family Trust No.1 and Roche Family Trust No.2. The primary beneficiary of these trusts is Adrian Roche, a director of the Company, Cynthia Hartz and/or family members including general beneficiaries as defined in the trust deed.

 

** as trustee for the JPC Family Trust. The primary beneficiary of the trust is John Caliguri, a director of the Company, and/or his family members including general beneficiaries as defined in the trust deed. 

*** Included in the shareholding of Oppenberg Group Limited are 33,000,000 ordinary shares held by Dean McClelland a director and shareholder in Oppenberg Group Limited and an associate of the Concert Party.  

The percentages shown above are based on the current issued share capital of 1,116,000,000.

Terms defined in the Admission Document have the same meanings in this announcement.

For further information, please contact:

Paycorp plc    

Tel +44 (0) 161 975 0403
Michael Edelson

Ian Aspinall

Website: http://www.paycorpplc.com

Zeus Capital    

Tel: +44 (0) 161 831 1512

Alex Clarkson/Ross Andrews

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