31st Jul 2007 10:37
Advanced Smartcard Technologies plc31 July 2007 Advanced Smartcard Technologies plc ("AST" or the "Company")Change in Directorate, Issue of New Shares and Cancellation of Admission to AIM 1 Directorate change The Company announces that pursuant to the recommended cash offer by TrainlineInvestments Holdings Limited ("Trainline") to acquire the entire issued and tobe issued share capital of AST, other than AST shares already owned by Trainlineor contracted to be acquired by Trainline (the "Offer") having today beendeclared unconditional in all respects: i. Alan Tomlin, Chief Executive of Trainline, and Jon Mitchell, Trainline's Finance Director, have been appointed directors of AST with immediate effect; ii. Thomas Doyle will resign as a director of AST with effect from 2 August 2007; and iii. Stephen Naylor has resigned as a director of AST with immediate effect. Alan Chris Tomlin, age 46, was appointed Chief Executive Officer to Trainline inJuly 2006 having been Chief Executive Officer of Trainline Holdings Limitedsince March 2002. Alan was formerly Group Finance Director of Virgin Rail GroupLimited responsible for all financial aspects relating to that group. Alan is currently a director of the following companies: Trainline Investments Holdings LimitedTrainline Junior Mezz LimitedTrainline Group Investments LimitedTrainline Holdings LimitedTrainline.com LimitedQjump LimitedTrainline Rail Enquiry Services LimitedTrainline Short Breaks Limited Jonathan Michael Mitchell, age 36, was appointed Group Finance Director toTrainline and Trainline Holdings Limited in July 2004 having previously workedat Virgin Management Limited as an investment manager from November 2000.Jonathan qualified as a chartered accountant with Grant Thornton CharteredAccountants in December 1996. Jonathan is currently a director of the following companies: Trainline Investments Holdings LimitedTrainline Junior Mezz LimitedTrainline Group Investments LimitedTrainline Holdings LimitedTrainline.com LimitedQjump LimitedTrainline Short Breaks Limited75-79 York Street LimitedTrainline Rail Enquiry Services Limited There are no further disclosures required in accordance with Schedule Two,paragraph (g) of the AIM Rules for Companies. 2 Issue of new AST shares and total voting rights The Company announces that, on 30 July 2007, a total of 17,981,818 ordinaryshares of £0.0003 each in the capital of the Company ("Ordinary Shares") wereissued and allotted to optionholders following the exercise of share optionspursuant to the terms of the relevant AST share incentive schemes. Pursuant to the exercise of options, the following Ordinary Shares were issuedand allotted to directors of the Company, who, at the time of issue of theshares, were each legally and beneficially entitled to the shares: Name Ordinary Shares New Shareholding % holding David Braddock 1,784,717 34,579,265 13.4% Thomas Doyle 1,166,666 3,597,687 1.4% Barry Hochfield 1,166,666 32,443,372 12.6% Stephen Naylor 1,166,666 32,443,372 13.6% Of the total of 1,784,717 Ordinary Shares issued and allotted to David Braddockthe exercise price was 3.7 pence per share in respect of a total of 1,166,666Ordinary Shares, and 0.65 pence per share in respect of a total 618,051 OrdinaryShares. In relation to the 1,166,666 Ordinary Shares issued and allotted to each ofThomas Doyle, Barry Hochfield and Stephen Naylor the exercise price was 3.7pence per share. Application has been made for the Ordinary Shares to be admitted to trading onAIM and dealings are expected to commence on 6 August 2007. Following admission,the Company will have 257,781,870 Ordinary Shares in issue. 3 Cancellation of admission The Company also announces that it has made application for the cancellation ofadmission of the Company's Ordinary Shares to AIM with effect from 7.00 a.m. on8 August 2007. This application for cancellation has been made following Trainline'sannouncement today of the Offer being declared wholly unconditional and of itsintention to commence the compulsory acquisition procedure under sections 974 to991 of the Companies Act 2006 for those shares in the Company in relation towhich it has not received acceptances of the Offer. Enquiries New Boathouse Capital 020 7471 3770Colin La Fontaine Jackson WH Ireland LimitedDavid Youngman 0161 832 2174 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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