16th Jan 2009 17:02
Umeco plc
Date 16 January 2009
Director/PDMR Shareholding
Mr Brian McGowan, non-executive Chairman, and his connected parties own 900,000 ordinary shares of Umeco plc. This figure comprises 898,379 shares held in Mr McGowan's name and 1,621 shares registered under the name Dartington Portfolio Nominees Limited ISA Acct. Since their acquisition, the shares registered in Mr McGowan's name, along with other of his personal assets, have been subject to a security arrangement with Lloyds TSB Bank plc. This security arrangement is in connection with a loan facility which Mr McGowan may utilise from time to time. The security arrangement was entered into on 25 January 1982 and pre-dates all of Mr McGowan's acquisitions of Umeco shares.
Following discussions with the Company, and after taking legal advice, both Mr McGowan and the Company believed that the security arrangement did not itself constitute a transaction for which disclosure was required under the Disclosure and Transparency Rules. However, given the FSA's recent clarification of its view of the obligations to disclose security granted over shares, Mr McGowan has formally notified the Company of this grant of security and the Company hereby gives notice of the grant of the security over the shares described above.
Contact Steve Bowers, Company Secretary 01926 331800
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Ubsetfusmca