1st Apr 2008 07:00
Northern Bear Plc01 April 2008 Northern Bear Plc ("Northern Bear" or the "Company") Director's Dealing Northern Bear announces that on 31 March 2008 David Jay, Finance Director,transferred his entire shareholding of 543,000 ordinary shares of 1p each in theCompany ("Ordinary Shares"), representing 3.19 per cent. of the issued sharecapital, into a short term life interest trust, with his partner as nominatedsole beneficiary. Specifically, the transfer is to allow Mr Jay to takeadvantage of capital gains tax taper relief which is due to expire on 5 April2008. For clarification, the Company confirms that the transfer does not involve asale of the Ordinary Shares which have instead been gifted to the trust andhence it does not result in any change in the underlying beneficial ownership ofthe Ordinary Shares which are expected to resort to Mr Jay's direct ownershipfollowing a period of approximately three months having elapsed. The terms ofthe trust specify that any income would benefit the nominated beneficiary duringthis period, namely his partner. As a result, the beneficial interest of David Jay in the issued share capital ofthe Company remains unchanged as follows: Total number of % of issued share capitalDirector Ordinary Shares of the CompanyDavid Jay 543,000 3.19 Enquiries please contact: Northern Bear PlcGraham Forrest, Chief Executive0191 371 2934 Strand Partners LimitedJames Harris / Braden Saunders020 7409 3494 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Northern Bear