25th Jul 2006 17:14
Radstone Technology PLC25 July 2006 FOR IMMEDIATE RELEASE 25 July 2006 Radstone Technology PLC (the 'Company') Holding in Company ------------------------------------------------------------------------- The Company has been informed that Water Lane Trustees Limited, the Trustee ofthe Radstone Technology Employee Trust, distributed 10,555 ordinary shares of12.5p each in the Company to certain employees including Peter Cavill (Director)on 25 July 2006. These represented shares held by the Trust as part of thebonuses earned by senior executives of the Company in prior years, the ownershipof which became unconditional on 1 July 2006, hence triggering the distribution. In addition to, and at the same time as this distribution, the Trust disposed of7,623 ordinary shares at £2.57 per share in order to meet the tax and nationalinsurance liabilities of the beneficiaries of the Trust. Furthermore, the Trust acquired 17,878 ordinary shares of 12.5p each in theCompany at £2.62 per share. These shares represent part of the bonuses earnedby senior employees which are converted into shares. The shares are held intrust in trust on the employee's behalf for a period of three years during whichtime their right to ownership is lost should they leave the Company. Following the distribution and purchase, the shareholdings of the Trust and therelevant Director of the Company, who received shares from the Trust, are asfollows: Name Number of shares (disposed of)/ Current Holding % of issued share received capitalRadstone TechnologyEmployee Trust:- disposals (18,178)- purchases 17,878 178,616 0.59PJ Cavill 4,825 106,182 0.35 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Restore