15th Oct 2010 16:23
15 October 2010
Hydrogen Group plc
Secondary Placing of Director and Founder Shares
Hydrogen Group plc ("Hydrogen" or the "Company") today announces the secondary placing ("Secondary Placing") of ordinary shares of 1 pence each in the Company ("Shares") by certain directors and founder shareholders ("Selling Shareholders").
A total of 4,208,333 Shares have today been placed at a price of 120 pence per Share with institutional clients of Oriel Securities Limited, who managed the Secondary Placing. The number of Shares sold by each Selling Shareholder, their resultant holding and the related percentage of issued share capital ("ISC") is detailed in the table below.
|
Selling Shareholder |
No. of Share sold |
New holding |
% of ISC |
|
Ian Temple (Executive Chairman) |
1,000,000 |
4,090,259 |
17.5% |
|
Tim Smeaton (Chief Executive) |
1,000,000 |
2,760,134 |
11.8% |
|
Dan Church (Head of Client Services) |
125,000 |
1,329,014 |
5.7% |
|
Chris Cole |
1,083,333 |
2,724,496 |
11.6% |
|
Charles Marshall |
1,000,000 |
1,682,245 |
7.2% |
Following the sale of the above Shares the Selling Shareholders have entered into an agreement not to sell further Shares for a period of 12 months following the date of the Secondary Placing, other than via Oriel Securities Limited, under an orderly market agreement.
Commenting on the Secondary Placing, Ian Temple, Executive Chairman, said:
"We are very pleased with the level of demand from new and existing institutional investors and the number of new shareholders this brings to our share register. We expect the increase in free float following the Secondary Placing will provide additional liquidity to shareholders, which should help the Company achieve its goals ".
Enquiries:
|
Hydrogen Group plc |
020 7240 2500 |
|
Ian Temple, Executive Chairman
|
|
|
Oriel Securities Limited (NOMAD) |
020 7710 7600 |
|
Emma Griffin / Natalie Fortescue |
|
|
|
|
|
Hudson Sandler |
020 7796 4133 |
|
Kate Hough / Alex Brennan |
|
Related Shares:
HYDG.L