22nd Apr 2016 12:04
FOR IMMEDIATE RELEASE
Safestyle UK plc
("Safestyle" or the "Company")
Exercise of Options, Total Voting Rights and Director Dealing
Safestyle UK plc (AIM: SFE), the leading UK-focused retailer and manufacturer of PVCu windows and doors for the homeowner replacement market,announces that on Thursday 21 April 2016 Steve Birmingham, Chief Executive Officer of the Company, and Mike Robinson, Chief Financial Officer, together with certain other employees of the Company (the "Optionholders"), exercised options over an aggregate of 3,986,110 new ordinary shares of £0.01 each in the Company (the "Shares"), under the Safestyle Executive Share Option Plan (the "ESOP"). These options were granted at IPO on 11 December 2013 with an exercise price of 100p pence per ordinary share and became exercisable on the second anniversary of the date of grant and were exercised on a cashless basis, within the terms of the ESOP, meaning Optionholders, net of the exercise price and based on the middle market closing price of 280.38 pence per Ordinary Share as at 21 April 2016, have been allotted an aggregate of 2,564,427 Shares (the "New Shares").
Steve Birmingham and Mike Robinson have been allotted 375,282 and 625,470 New Shares respectively.
Application has been made for the New Shares, which rank paripassu in all respects with the Company's existing ordinary shares, to be admitted to trading on AIM which is expected to occur at 8.00am on 27 April 2016.
Following the issue of the New Shares, the Company's total issued share capital will consist of 82,806,570 Shares with one voting right per share. The Company does not hold any Shares in Treasury. Therefore, following the issue of the New Shares, the total number of voting rights in the Company will be 82,806,570. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
On 22 April 2016, the Company was notified that, on that date, Steve Birmingham and Mike Robinson sold 176,825 and 333,971 Shares respectively at a price of 260.00p per Share in order, principally, to meet tax liabilities arising from the exercise of options. Following the exercise and the sale, the holdings of Steve Birmingham and Mike Robinson are as follows:
| Holding of Shares before exercise | New Shares from exercise of options | Sale of New Shares | Holding of Shares after exercise and sale | ||
| Shares | % of ISC |
|
| Shares | % of ISC |
S. Birmingham
| 3,933,889 | 4.90 | 375,282 | 176,825 | 4,132,346 | 4.99 |
M. Robinson
| 25,000 | 0.03 | 625,470 | 333,971 | 316,499 | 0.38 |
Enquiries
Safestyle UK plc | Tel: 01274 842443 |
Steve Birmingham (Chief Executive Officer) |
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Mike Robinson (Chief Financial Officer) |
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Zeus Capital (Nominated Adviser & Broker) | Tel: 0203 829 5000 |
Nicholas How / Dominic King |
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Liberum Capital Limited (Joint Broker) | Tel: 0203 100 2100 |
Neil Patel / Tom Fyson |
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FTI Consulting (Financial PR) | Tel: 0203 727 1000 |
Oliver Winters / Alex Beagley / James Styles |
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Related Shares:
SFE.L