9th Oct 2009 07:00
9 October 2009
Norcon plc ("Norcon" or the "Company")
Directors' shareholdings and issue of shares
Norcon (LSE/AIM: NCON) announces that it has issued 758,333 Ordinary shares of 1p each in the Company ("Ordinary Shares") to management following the vesting of shares under the Norcon plc Long Term Incentive Plan. The consideration paid for these shares was 1p per share, equal to the nominal value of the shares.
Following the issue of these Ordinary Shares, the interests of the directors concerned in the Ordinary Share capital of the Company are as set out below:
|
Director |
Ordinary Shares awarded under LTIP |
Total holding following issue |
% of the Company's issued share capital |
|
Trond Tostrup |
36,111 |
36,111 |
0.09% |
|
Arnold Rørholt |
216,667 |
2,416,667 |
5.77% |
|
Marne Martin |
144,445 |
144,445 |
0.34% |
|
Gaute Vik |
216,667 |
6,388,314 |
15.25% |
|
Jørn Longem |
36,110 |
22,560,774* |
53.87% |
|
Kenneth West |
36,111 |
36,111 |
0.09% |
* These shares are held by Norconsult Telematics Holdings Limited, which is controlled by Jørn Longem and of which he is a director.
Application has been made for 758,333 Ordinary Shares to be admitted to trading on AIM. The Ordinary Shares will rank pari passu with existing ordinary shares and admission is expected to occur on 15 October 2009. The total number of shares in issue following the admission of these new Ordinary Shares will be 41,881,521.
41,881,521 is the figure which may be used by shareholders as the denominator for the calculations by which they will determined if they are required to notify their interest in, or a change to their interest in, Norcon plc under the FSA's Disclosure and Transparency Rules.
CONTACTS:
|
Norcon plc |
|
|
Arnold Rørholt, Chief Executive Officer |
+47 90 11 66 90 |
|
Marne Martin, Chief Financial Officer |
+44 (0) 78 13 92 09 74 |
|
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|
ICIS |
|
|
Tom Moriarty or Caroline Evans-Jones |
+44 (0) 20 7651 8688 |
|
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|
FinnCap |
|
|
Clive Carver or Rose Herbert |
+44 (0) 20 7600 1658 |
ABOUT NORCON:
Norcon is an international project management and outsourcing services business, operating in the telecommunications, IT and defence sectors. Registered in Isle of Man, headquartered in Cyprus, the Company has provided project management services since 1957 in more than 20 countries around the world. www.norconplc.com
Related Shares:
NCON.L