30th Jun 2008 09:00
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For Immediate Release |
30 June 2008 |
Plastics Capital plc (the "Company")
Exercise of options
On 26 November 2007, as part of its AIM admission process, the Company entered into a share exchange agreement with the shareholders of Plastics Capital Trading Limited ("Plastics Capital Trading"). Pursuant to this agreement, the Company issued ordinary shares of 1p each ("Ordinary Shares") to the then shareholders of Plastics Capital Trading in exchange for the acquisition of the entire issued share capital of Plastics Capital Trading and its subsidiaries. At this time, a number of EMI options held by Nicholas Ball, Finance Director of the Company, and Aidan Douglas, Managing Director of Trimplex, a subsidiary of the Company, became exercisable. Nicholas Ball and Aidan Douglas undertook not to exercise their EMI options on the sale of Plastics Capital Trading to the Company pursuant to the share exchange agreement but agreed that these EMI options would be exercised at a later date.
Plastics Capital Trading has agreed to a partial exercise of such options resulting in Nicholas Ball receiving 4,000 ordinary shares of 1p each and Aidan Douglas receiving 1,653 ordinary shares of 1p each in Plastics Capital Trading on 30 June 2008. On the same day, the Company entered into a share exchange agreement with Nicholas Ball and Aidan Douglas pursuant to which in consideration for the Company acquiring 4,000 shares from Nicholas Ball and 1,653 shares from Aidan Douglas in Plastics Capital Trading, it issued 35,424 Ordinary Shares to Nicholas Ball and 14,639 Ordinary Shares to Aidan Douglas. This transaction was completed at the admission price of 100p per Ordinary Share. Application has been made for the 50,063 new Ordinary Shares to be admitted to trading on AIM which is expected to take place on Friday 4 July 2008.
Following the issue of Ordinary Shares, Nicholas Ball will have a beneficial holding of 148,401 Ordinary Shares representing 0.19 per cent. of the Company's total issued share capital.
For further information, please contact:
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Plastics Capital |
020 7326 8423 |
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Faisal Rahmatallah / Nick Ball |
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Cenkos Securities plc |
020 7397 8900 |
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Stephen Keys / Beth McKiernan |
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Buchanan Communications |
020 7466 5000 |
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Richard Darby / Susanna Gale / Christian Goodbody |
Related Shares:
Synergia Energy