27th Jan 2010 11:13
R.E.A. Holdings plc ("the company")
Issue of ordinary shares on exercise of director's share option
The company has been informed by its managing director, John Oakley, that, having regard to the forthcoming increase in the top rate of income tax, he intends to exercise, in full, an outstanding option granted to him in 2002 to subscribe for 840,689 ordinary shares of 25p each of the company (the "option shares") at a price of 43.753p subject to sale of sufficient of the option shares to cover the cost of subscription and Mr Oakley's liability to income tax and national insurance contributions as a result of the exercise of the option. Mr Oakley has informed the company that he intends to retain the balance of the option shares.
Application has been made for the option shares to be admitted to the Official List and to trading on the London Stock Exchange's market in listed securities. It is expected that admission, together with the sale of those of the option shares being sold by Mr Oakley, will become effective on 1 February 2010.
Related Shares:
R.e.a.hldgs.