APC Technology Group PLC
("APC" or the "Company")
Director subscription, exercise of option and issue of new shares
APC Technology Group PLC (AIM: APC), the provider of design-in, specification and distribution services for specialist electronic components and systems, lighting technologies and connectivity products, announces that 2,311,511 new Ordinary Shares of 2p (the "New Ordinary Shares") are to be issued to Directors of the Company, as set out below.
The Company will issue 1,311,511 New Ordinary Shares to Tony Lochery, Chairman, in respect of his services as Chairman and a Director, and related expenses, since his appointment on 24 February 2017.
The conversion price for calculating the number of shares to be issued to Mr Lochery is 6.2375 pence, being the average mid-market value of the Ordinary Shares calculated over the ten business days ending 22 February 2019.
Following the issue of shares as above, Mr Lochery's total holding in the Company's Ordinary Shares will be 4,915,214 Ordinary Shares, representing 2.7% of the enlarged issued share capital.
The Company will issue 1,000,000 New Ordinary Shares to Richard Hodgson, Chief Executive, made up as follows:
· 917,431 Ordinary Shares in respect of the exercise of a nil-cost option granted under the Company's Long Term Incentive Plan (LTIP) on 25 February 2016, and
· 82,569 Ordinary Shares in respect of a share subscription by Mr Hodgson, at a price of 6.5 pence per share.
Following the issue of the Ordinary Shares as above, Mr Hodgson's total holding in the Company's Ordinary Shares will be 3,300,000 Ordinary Shares, representing 1.8% of the enlarged issued share capital.
The above share issues are conditional on the admission of the New Ordinary Shares to trading on AIM ("Admission"). Application has been made to the London Stock Exchange plc for Admission to become effective and dealings in the New Ordinary Shares to commence at 8.00 a.m. on or around 1 March 2019.
Total Voting Rights
Following the issue of the New Ordinary Shares, the total issued ordinary share capital of the Company will comprise 182,195,499 Ordinary Shares of 2p, each carrying the right to one vote. The New Ordinary Shares will be fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
The Company does not hold any Ordinary Shares in treasury and, therefore, the above figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
APC Technology Group PLC +44 (0) 330 313 3220
Richard Hodgson, Chief Executive www.apcplc.com
Michael Thompson, Finance Director
Stockdale Securities Limited (Nominated Adviser and Broker) +44 (0)20 7601 6100
Mark Brown / Antonio Bossi / Rose Ramsden
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
Quick facts: Australian Potash Ltd
Market Cap: $39.33 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE