5th Nov 2008 07:00
5 November 2008
Red24 plc
(the "Company")
Directors Dealings and Issue of Equity
Red24 plc ('Red24'), the AIM-quoted security and risk management consultancy today announces that the Company was informed on 4 November 2008 that on the same day, Simon Richards, Chairman of the Company, and John Mocatta, non-executive director, each purchased 135,000 Ordinary Shares in the Company at a price of 2.4p. At the same time the Company was informed that on 4 November Sidebell Limited a company in which Simon Richards, Chairman of the Company, is a director and shareholder purchased 230,000 Ordinary Shares in the Company at the price of 2.4p.
Following this purchase, Simon Richards, is now interested in 12,489,250 Ordinary Shares, representing 28.1% of the Company's total issued share capital following the new issue detailed below of which 580,000 shares are held in his name, 11,409,250 shares are held by Sidebell Limited and 500,000 shares are held by Financial & General Securities Limited. John Mocatta in now interested in 500,000 Ordinary Shares, representing 1.12% of the Company's total issued share capital following the new issue detailed below.
In addition the Company announces that it has issued 1,000,000 Ordinary Shares of 1p at a price of 2p per share, being the mid-market price at the time of the transaction.
Maldwyn Worsley-Tonks, CEO of the Company, has subscribed for 400,000 of the new Ordinary Shares, with the remaining 600,000 being allotted to two senior members of staff under the Company's Employee Share Loan Scheme.
Following the issue of equity Mr Worsley-Tonks will have an interest in 913,500 shares representing 2% of the issued share capital in the Company.
Application has been made for the Placing Shares to be admitted to trading on AIM and dealings are expected to commence on 10 November 2008. Following the Placing the issued share capital of red24 plc has increased to 44,371,083 ordinary shares of 1p.
- Ends -
For further information please contact:
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Red24 plc |
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Simon Richards, Chairman |
Tel: 0208 080 0217 |
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Threadneedle Communications |
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Josh Royston / Graham Herring |
Tel: 0207 653 9850 |
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HB Corporate |
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Luke Cairns |
Tel: 0207 510 8600 |
Related Shares:
REDT.L