APC Technology Group PLC Directors' subscription and issue of new shares (0792Z)
March 10 2017 - 2:00AM
UK Regulatory
TIDMAPC
RNS Number : 0792Z
APC Technology Group PLC
10 March 2017
APC Technology Group PLC
("APC" or the "Company")
10 March 2017
Directors' subscription and issue of new shares
APC Technology Group PLC (AIM: APC), the provider of design,
specification and distribution services for specialist electronic
components and systems, lighting technologies and connectivity
products, announces that two Directors of the Company have
subscribed for new ordinary shares of 2 pence each in the capital
of the Company (the "Ordinary Shares") at a price of 6.75 pence per
share, as follows:
Tony Lochery, Chairman, has subscribed for 1,481,481 Ordinary
Shares, for a subscription value of GBP100,000 Following this
subscription, Mr Lochery's total holding in the Company's shares
will be 1,481,481 shares, representing 1.13% of the enlarged issued
share capital.
Richard Hodgson, Chief Executive, has subscribed for 375,000
Ordinary Shares, for a subscription value of GBP25,312. Following
this subscription, Mr Hodgson's total holding in the Company's
shares will be 2,000,000 shares, representing 1.53% of the enlarged
issued share capital.
The Company will also issue 807,288 Ordinary Shares to John
McLaren ("Ian") Davidson, a former Non-executive Director of the
Company, in settlement of fees as a Director and consulting
services provided by Idea Business Solutions Limited, a company
controlled by Mr Davidson.
The Company will also issue 370,370 Ordinary Shares in
settlement of professional fees.
The conversion price for calculating the number of shares to be
issued to Mr Davidson and in settlement of professional fees is
also 6.75 pence, being the mid-market price prevailing at the close
of business on 8 March 2017.
A total of 3,034,139 new Ordinary Shares (the "New Ordinary
Shares") will therefore be issued. The proceeds of the cash
subscription will be used to augment the Group's working capital
resources.
The above share issues are conditional on the admission of the
New Ordinary Shares to trading on AIM ("Admission"). Application
has been made to the London Stock Exchange plc for Admission to
become effective and dealings in the New Ordinary Shares to
commence at 8.00 a.m. on or around 15 March 2017.
Total Voting Rights
Following the issue of the New Ordinary Shares, the total issued
ordinary share capital of the Company will comprise 130,838,916
Ordinary Shares, each carrying the right to one vote. The New
Ordinary Shares will be fully paid and will rank pari passu in all
respects with the Group's existing Ordinary Shares.
The Company does not hold any Ordinary Shares in treasury and,
therefore, the above figure may be used by shareholders as the
denominator for the calculation 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 Guidance and
Transparency Rules.
Enquiries:
APC Technology Group PLC +44 (0) 330 313 3220
Richard Hodgson, Chief Executive www.apcplc.com
Art Russell, Chief Financial Officer
Stockdale Securities Limited (Nominated Adviser and Broker) +44 (0)20 7601 6100
Mark Brown / Antonio Bossi / Edward Thomas
This information is provided by RNS
The company news service from the London Stock Exchange
END
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