AssetCo PLC Director Dealing (0639T)
July 15 2015 - 2:00AM
UK Regulatory
TIDMASTO
RNS Number : 0639T
AssetCo PLC
15 July 2015
Issued on behalf of AssetCo plc
Immediate Release
Wednesday, 15 July 2015
AssetCo plc
("AssetCo" or the "Group" or the "Company")
Director dealing
The Company was notified yesterday that on 13 July 2015 the
directors, as detailed below, received a total of 70,313 ordinary
shares of 10p each ("Ordinary Shares") in the Company from Trident
Private Equity Fund II LP ("TPE2").
TPE2 was formed in 2005 and is a 10 year limited life fund.
Following the disposal of its holding in AssetCo TPE2 will be
placed into voluntary liquidation. Harwood Capital LLP ("Harwood")
is the investment adviser to TPE2. In anticipation of the
liquidation, TPE2 investors were offered the option of a cash
payment of GBP2.50 per Ordinary Share by North Atlantic Smaller
Companies Investment Trust plc ("NASCIT"), another fund managed by
Harwood, or via an in specie distribution of Ordinary Shares to
discretionary managed private client accounts of Harwood.
Situation prior to TPE2 distribution
---------------------------------------- -------------- -------
Harwood breakdown Shares % held
---------------------------------------- -------------- -------
NASCIT 2,650,000 21.70%
---------------------------------------- -------------- -------
TPE2 1,250,000 10.24%
---------------------------------------- -------------- -------
Oryx International Growth Fund Limited 1,050,000 8.60%
---------------------------------------- -------------- -------
Discretionary managed private clients
under Harwood Capital LLP 965,779 7.91%
---------------------------------------- -------------- -------
Harwood Capital total holding 5,915,779 48.45%
---------------------------------------- -------------- -------
Situation post the TPE2 distribution
---------------------------------------- -------------- -------
Harwood breakdown Shares % held
---------------------------------------- -------------- -------
NASCIT 3,457,500 28.31%
---------------------------------------- -------------- -------
Oryx International Growth Fund Limited 1,050,000 8.60%
---------------------------------------- -------------- -------
Discretionary managed private clients
under Harwood Capital LLP 1,408,279 11.53%
---------------------------------------- -------------- -------
Harwood Capital total holding 5,915,779 48.45%
---------------------------------------- -------------- -------
Following the distribution by TPE2, Harwood holds and manages
the same amount of shares as previously advised, being 5,915,779
Ordinary Shares, representing 48.45 per cent of the Company's
issued share capital.
Director dealing
Both Tudor Davies, Chairman of the Company and Christopher
Mills, Non-Executive Director of the Company, are limited partners
of TPE2. Both have elected to transfer shares in specie to the
discretionary managed private client accounts of Harwood.
Tudor Davies, Chairman of the Company, transferred 7,813
Ordinary Shares to a discretionary managed private client account
of Harwood. Following this transaction, Mr Davies's interest in the
Company is 32,813 Ordinary Shares, representing 0.27 per cent of
the Company's issued share capital.
Christopher Mills, Non-Executive Director of the Company,
transferred 62,500 Ordinary Shares to a discretionary managed
private client account of Harwood. Following this transaction, Mr
Mill's interest in the Company* remains unchanged at 5,915,779
Ordinary Shares, representing 48.45 per cent of the Company's
issued share capital.
*Christopher Mills as Chief Executive and a member of Harwood
Capital LLP is deemed to have an interest in 5,915,779 shares owned
by various funds associated with Harwood Capital LLP.
Enquiries:
Tudor Davies, John Llewellyn-Lloyd Fiona Tooley
Chairman / Ciaran Walsh
AssetCo plc Arden Partners plc TooleyStreet Communications
Tel: +44 (0) Tel:+44 (0) 20 7614 Mobile: +44 (0)
7785 703523 5900 7785 703 523
or +44 (0) 20 Email: fiona@tooleystreet.com
7614 5900
Ticker AIM:
ASTO.L
AssetCo, is principally involved in the provision of management
and resources to the fire and emergency services in the Middle
East. For further details, visit the website, www.assetco.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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