Avesco Group PLC Issue of Equity and Directors' Holdings (2590V)

TIDMAVS

RNS Number : 2590V

Avesco Group PLC

10 January 2013

AVESCO GROUP plc ("Avesco" or the "Company")

Issue of Equity and Directors' Holdings

Avesco (AIM: AVS) announces that it is issuing 508,000 ordinary shares of 10p each in the Company ("Ordinary Shares") to the Avesco Employee Benefit Trust (the "Trust") following the vesting of awards over Ordinary Shares under the Company's Long Term Incentive Plan.

Following the issue of these Ordinary Shares at nil cost to directors and employees, the interests of the directors concerned in the Ordinary Share capital of the Company (including, where applicable, their interests in shares held on their behalf by the Trust) are as set out below:

 
 Director          Ordinary Shares   Total holding   % of the Company's 
                    vested under      following       voting rights 
                    LTIP              issue           following 
                                                      issue 
 Richard Murray           0            5,293,206           20.4% 
 John Christmas        60,000           93,461              0.4% 
 Graham Andrews        60,000           196,864             0.8% 
 David Crump           50,000           158,760             0.6% 
 Ami Giniger*             0            7,607,878           29.3% 
 Carmit Hoomash           0                0                 0%

* These shares are held by Taya Investment Company Limited and a 100% controlled subsidiary of that company. Taya Investment Company Limited is controlled by Ami Giniger and of which he is a director.

Application has been made for 508,000 Ordinary Shares to be admitted to trading on AIM. The Ordinary Shares will rank pari passu with existing ordinary shares and admission is expected to occur on 11 January 2013 ("Admission"). The total number of shares in issue following Admission will be 26,493,899. There are 542,349 Ordinary Shares held in treasury so the number of Ordinary Shares with voting rights is 25,951,550. 25,951,550 is the figure which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Avesco under the FSA's Disclosure and Transparency Rules.

 
 For further information please 
  contact: 
    Avesco Group plc 
   Richard Murray, Chairman       01293 583400 
   John Christmas, Group 
    Finance Director 
 
 
   finnCap 
    Ed Frisby/Rose Herbert, 
    Corporate Finance 
    Brian Patient/Victoria 
    Bates, Corporate Broking     020 7220 0500

This information is provided by RNS

The company news service from the London Stock Exchange

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