CINP Cinpart

 

TIDMCINP 
 
RNS Number : 3115B 
Cinpart PLC 
23 October 2009 
 

 
 
23 October 2009 
 
 
CINPART PLC 
("Cinpart" or the "Company") 
 
 
Further re: Exercise of Options 
 
 
Further to the announcement made on 1 October 2009 the Company has been advised 
that one of the notices received from a former employee to exercise options over 
380,047 ordinary shares was invalid. 
 
 
The notice was invalid owing to the fact that the Company has now been advised 
that the legal entity to whom these shares were to be issued has been dissolved. 
As the options were not capable of being transferred to another person or entity 
the Company is unable to register the shares on its register. The proceeds 
received in respect of the original option exercise, amounting to approximately 
GBP36,417, have been returned to the former employee. 
 
 
As  the  Company  is  not  in  a  position  to  cancel  these  shares  or  hold 
them  as  treasury  shares it has subsequently placed them at 10 pence per 
share with the largest shareholder of the Company, Mr Timothy Foster. The net 
proceeds from this issue will be used for general working capital. 
 
 
Enquiries: 
 
 
+---------------------------------------------+--------------------------+ 
| Cinpart                                                                | 
+------------------------------------------------------------------------+ 
| Christopher Foster, Executive Director      | Tel: 020 3176 3031       | 
+---------------------------------------------+--------------------------+ 
| Kevin Baker, Chief Executive                | Tel: 020 3176 3033       | 
+---------------------------------------------+--------------------------+ 
|                                             |                          | 
+---------------------------------------------+--------------------------+ 
| Merchant John East Securities Limited (Nomad)                          | 
+------------------------------------------------------------------------+ 
| John East/Simon Clements                    | Tel: 020 7628 2200       | 
+---------------------------------------------+--------------------------+ 
|                                             |                          | 
+---------------------------------------------+--------------------------+ 
| Mirabaud Securities LLP (Joint Broker)                                 | 
+------------------------------------------------------------------------+ 
| Rory Scott                                  | Tel: 020 7878 3360       | 
+---------------------------------------------+--------------------------+ 
|                                                                        | 
+------------------------------------------------------------------------+ 
| Rivington Street Corporate Finance Limited (Joint Broker)              | 
+------------------------------------------------------------------------+ 
| Monisha Varadan                             | Tel: 020 7562 3389       | 
+---------------------------------------------+--------------------------+ 
|                                             |                          | 
+---------------------------------------------+--------------------------+ 
| Hansard Group (Public Relations)                                       | 
+------------------------------------------------------------------------+ 
| Vikki Krause                                | Tel: 020 7245 1100       | 
+---------------------------------------------+--------------------------+ 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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