The Company has been notified that Trevor Brown, Non-Executive Director of the Company, has exercised share options representing 10,000,000 ordinary shares in the Company, at 1.4 pence per option (“Option Shares”).
Following this exercise, Trevor Brown’s shareholding in the Company will be 10,000,000 shares representing 0.50 % per cent. of the enlarged issued share capital and total voting rights of the Company.
Further to the Company’s announcement of 30 December 2020, the Company confirms that it has been progressing the appointment of new directors to the board and expects to make further announcements in due course. Trevor Brown has confirmed that he will be stepping down from his non-executive Director role with the Company following a period of transition and will not be putting himself forward for re-election at the Company’s next Annual General Meeting.
Application has been made for the Option Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective and dealings will commence at 8:00a.m. on or around 13 January 2021.
Following Admission, the Company will have 1,993,270,231 ordinary shares of 0.01p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 1,993,270,231.
The above figure of 1,993,270,231 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.
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