RNS Number : 5386Z
ACP Capital Limited
21 July 2008
ACP Capital Limited
(the "Company")
21 July 2008
Exercise of Options and Issue of Shares
On 16 July 2008, the former board of directors of the Company (the "Former Board"):
1 granted Mr Derek Vago an option to subscribe for a further 1,000,000 ordinary shares
of 0.1p each in the Company ("Ordinary
Shares"); and
2 conditional on the passing of all resolutions at the Company's extraordinary general
meeting held on 17 July 2007 (the "EGM"), (i)
issued and allotted 12,245,000 Ordinary Shares pursuant to the exercise of options granted by
the Former Board and (ii) made arrangements
for 2,073,823 Ordinary Shares to vest under the employee share award scheme.
These arrangements were put in place without the involvement or approval of the new directors
of the Company appointed at the EGM (the "New
Directors"). The New Directors are investigating the circumstances surrounding the grant and
exercise of these options.
Application to the London Stock Exchange has been made for the 12,245,000 new Ordinary
Shares of 0.1p each to be admitted to trading on
AIM ("Admission"). It is expected that Admission will become effective on 25 July 2008.
The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the
Company.
Following the issue of the new Ordinary Shares, the Company has 208,341,941 fully paid
ordinary shares in issue.
Enquiries:
Rob Bailhache / Nick Henderson, Financial Dynamics +44 (0) 207 269 7200
Sacha Macintosh, ACP Capital UK LLP +44 (0) 844 800 4530
Clayton Bush / Simon Stilwell, Liberum Capital Ltd +44 (0) 203 100 2000
Philip Secrett, Grant Thornton UK LLP +44 (0) 207 383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
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