15th Jan 2007 07:00
Enova Systems, Inc.12 January 2007 12 January 2007 Enova Systems, Inc. ("the Company") Enova Systems Inc. announces that since 1 January 2006 it has issued 41,420 newcommon shares pursuant to the Company's Director Compensation Plan ("theDirectors' Plan") for services rendered to the Company during the fourth quarterof 2005 and during 2006. The Directors' Plan provides that each quarter,directors of the Company who are not also officers receive remuneration ofUS$10,000 of which US$4,000 is paid in cash and US$6,000 is paid in commonshares issued at the closing mid market price on the last business day of thatquarter. Details of the Directors' Plan were described in the 2005 Annual Reportand Accounts announcement released on 30 June 2006. Details of the number of shares issued to each director, the date on which theywere issued, the price at which they were issued and the current holding of thedirectors is set out in the table below. 5 Jan 06 5 Apr 06 6 Jul 06 24 Oct 06 11 Jan 07 Current % of Voting Holdings Stock Bjorn Ahlstrom 1,176 1,644 1,145 2,000 13,837 0.1%Malcolm Currie 1,690 1,176 1,644 1,145 2,000 26,505 0.2%Donald Dreyer 1,690 1,176 1,644 1,145 2,000 25,144 0.2%Sten Langenius 1,145 2,000 3,145 0.0%Anthony Rawlinson 1,690 1,176 1,644 1,145 2,000 578,615 3.9%John Wallace 1,690 1,176 1,644 1,145 2,000 14,429 0.1%Price at which shares were issued $ 3.55 $ 5.10 $ 3.65 $ 5.24 $ 3.00 The new common shares rank pari passu with the existing common shares in issue.Application will be made for the new common shares to be admitted to the AIMMarket of the London Stock Exchange ("Admission"). Admission is expected to takeplace on 19 January 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Enova Systems Inc