13th Jun 2008 09:56
STILO INTERNATIONAL PLC ('Stilo' or the 'Company')
Director / PDMR Holding
Issue of Equity
The Company today announced that it has raised £90,000 through a subscription for of 5,000,000 new ordinary shares in the Company at a price of 1.8p per share (the "New Ordinary Shares"). The proceeds of the subscription will be used to help finance new product development and marketing of in particular Stilo Migrate, the world's first on-demand content conversion service.
Les Burnham, Chief Executive, and David Ashman, a Director of the Company, have subscribed for the New Ordinary Shares, following which their shareholdings will be as set out below:
|
Director |
Current holding |
% |
Shares subscribed |
Enlarged holding |
% |
|
Les Burnham |
3,000,000 |
2.86% |
2,000,000 |
5,000,000 |
4.56% |
|
David Ashman |
7,900,000 |
7.54% |
3,000,000 |
10,900,000 |
9.93% |
Mr Ashman's shares will be held in Giltspur Nominees Limited and the New Ordinary Shares subscribed by Les Burnham, will be held in his SIPP registered in the name of Rock Nominees Limited.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM and it is expected that admission will take place on 18 June 2008.
The New Ordinary Shares will rank pari passu with the existing shares of the Company. Following this allotment, the total issued share capital of the Company will increase to 109,728,470 ordinary shares.
13 June 2008
Enquiries:
Stilo International plc 01793 441444
Les Burnham, Chief Executive
Charles Stanley Securities 020 7149 6000
Nominated Adviser
Russell Cook / Carl Holmes
Related Shares:
Stilo