5th Feb 2010 16:50
Servoca Plc
("Servoca" or "the Company")
Directors Interests in Shares
Under the authority of the Trust Deed of the Servoca Plc Employee Benefit Trust (the "EBT"), on 26 January 2010 the Trustees of the EBT granted to Andrew Church, a Director of the Company, a beneficial interest subject to certain conditions in 4.4million ordinary shares of 1p each of the Company ("Ordinary Shares") which are owned by the EBT.
The beneficial interest arises through an agreement entered into on the same date by the Trustees and Andrew Church and the interest will be valued on the excess of the Servoca share price over a hurdle price of 20p a share. This interest is forfeitable in certain circumstances during the period to November 2011 and cannot be realised before November 2014 unless there is an earlier change of control of the Company.
In addition to the beneficial interest in 4.4million Ordinary Shares (representing approximately 3.6% of the existing issued share capital of the Company) through the EBT as detailed above Andrew Church has an existing direct interest in 1,250,000 Ordinary Shares (representing approximately a further 1.0% of the existing issued share capital of the Company).
Contacts:
Servoca Plc
Andrew Church 020 7747 3030
Glenn Swaby
FinnCap
Geoff Nash/Ed Frisby 020 7600 1658
Tom Jenkins/Simon Starr (broking)
Related Shares:
Servoca