Avesco Group PLC Transfer of Treasury Shares and Directors' Holding (1715Z)

TIDMAVS

RNS Number : 1715Z

Avesco Group PLC

03 February 2014

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

Transfer of Treasury Shares and Directors' Holdings

Avesco (AIM: AVS) announces that on 31 January 2014 the Company transferred out of treasury 492,449 ordinary shares of 10p each in the Company ("Ordinary Shares") to the Avesco Group Employee Benefit Trust (the "Trust") following the vesting of awards over Ordinary Shares under the Company's Long Term Incentive Plan.

Following the transfer 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 LTIP    following issue        voting rights 
                                                               following issue 
 Richard Murray                      0          5,508,211                20.8% 
 John Christmas                 53,000            110,371                 0.4% 
 Graham Andrews                 61,331            229,183                 0.9% 
 David Crump                    47,700            176,384                 0.6% 
 Amiran Giniger*                     0          7,784,878                29.4% 
 Carmit Hoomash                      0                  0                   0%

* These shares are held by Taya Communications Limited, a 100% controlled subsidiary of Taya Investment Company Limited, which is a company controlled by Amiran Giniger and of which he is a director. The share buy-back by Avesco, as announced on 23 December 2013, of 7,584,724 of these Ordinary Shares is expected to complete on 5 February 2014.

The total number of Ordinary Shares in issue is 26,493,899. 49,900 Ordinary Shares continue to be held in treasury so the number of Ordinary Shares with voting rights is 26,443,999. 26,443,999 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 FCA's Disclosure and Transparency Rules.

 
 For further information please contact: 
    Avesco Group plc 
   Richard Murray, Chairman                01293 583400 
   John Christmas, Group Finance 
    Director 
 
 
   finnCap 
    Julian Blunt/Ed Frisby, Corporate 
    Finance 
    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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