RNS Number:2128V
E Wood Holdings PLC
20 April 2007
E Wood Holdings Plc
("E Wood" or the "Company")
Exercise of Options and Directors Dealings
E Wood announces that it has applied for the admission of 498,000 new ordinary
shares of 5 pence each in the capital of the Company to trading on the
Alternative Investment Market of the London Stock Exchange plc.
The admission is being made pursuant to the exercise of options on 19 April
2007, at 84 pence per share, under the Company's 2004 Enterprise Management
Incentive Scheme.
Of this exercise, 100,000 new shares, representing 0.80 per cent. of the
enlarged issued share capital, are to be issued to Chris McDonnell, the Managing
Director of E Wood Limited, for which he has committed to accept the Offer for
the Company by 3M UK Holdings Limited (the "Offer"). Following the exercise,
Chris McDonnell's total shareholding will be 1,583,153 ordinary shares
representing 12.73 per cent. of E Wood's enlarged issued share capital. The
previous holding of 1,483,153 ordinary shares equates to the holding over which
Chris previously irrevocably undertook to accept the Offer.
Of this exercise, 90,000 new shares, representing 0.72 per cent. of the enlarged
issued share capital, are to be issued to Tony Morley, the Finance Director of E
Wood Limited, for which he has also committed to accept the Offer. Following the
exercise, Tony Morley's total shareholding will be 125,000 ordinary shares
representing 1.01 per cent.of E Wood's enlarged issued share capital. The
previous holding of 35,000 ordinary shares equates to the holding over which
Tony previously irrevocably undertook to accept the Offer. Further details are
set out in the Offer document posted to shareholders on 23 March 2007.
The holders of the remaining 308,000 new ordinary shares exercised under the
2004 Enterprise Management Incentive Scheme have also committed to accept the
Offer.
It is expected that dealings in the new ordinary shares will commence at 08.00
on 26 April 2007. Following the admission of these shares the issued share
capital of the Company will be 12,435,915 ordinary shares.
Contact details:
E Wood Holdings Plc 01609 788 716
Richard Mackness
Altium Capital Limited 0161 831 9133
Joe Smith/Adrian Reed
This information is provided by RNS
The company news service from the London Stock Exchange
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