20th Jun 2014 12:14
LONDON (Alliance News) - Utilitywise PLC Friday said it conducted a oversubscribed placing, after some of its directors and employees sold a total of 10.4 million shares in the company following the maturing of the company's 2012 long-term incentive plan.
The utility cost-management company said the shares, which represent 13.9% of the enlarged issued share capital of the company, were placed with new and existing institutional invests at a price of 290 pence per share.
It said the placing shares were sold on behalf of Chief Executive Geoffrey Thompson, Chief Financial Officer Andrew Richardson, Chief Operating Officer Adam Thompson and Non-Executive Chairman Richard Feigen, as well as Simon Butterfield, a former director of the company.
Utilitywise said that those directors also exercised options.
Director | Shareholding prior to the Exercise of Options and the Placing | Options exercised | Placing Shares Sold | Resultant shareholding | ||||
| Number of Ordinary Shares | % of issued share capital | Number of Ordinary Shares | % of enlarged issued share capital | Number of Ordinary Shares | % of enlarged issued share capital | Number of Ordinary Shares | % of enlarged issued share capital |
Geoff Thompson | 13,568,101 | 18.7% | - | - | 5,380,000 | 7.2% | 8,188,101 | 11.0% |
Adam Thompson | 3,764,544 | 5.2% | 625,000 | 0.8% | 1,970,476 | 2.6% | 2,419,068 | 3.2% |
Andrew Richardson | 1,590,075 | 2.2% | 625,000 | 0.8% | 1,201,904 | 1.6% | 1,013,171 | 1.4% |
Richard Feigen | 66,667 | 0.1% | 62,500* | 0.1% | 62,500 | 0.1% | 66,667 | 0.1% |
Utilitywise shares were down 6.1% at 295.00 pence Friday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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