Milestone Group PLC Issue Of Options
22 December 2014 - 10:01PM
UK Regulatory
TIDMMSG
22 December 2014
MILESTONE GROUP PLC
("Milestone" or the "Company")
Issue of Options
Milestone announces that on 22 December 2014, it awarded 89,415,000
options to subscribe for new ordinary shares in the Company to directors
and others under its approved and unapproved share option schemes.
The options have an exercise price of 1 pence each. 50% of the options
issued will be exercisable when the Company's share price exceeds 2
pence for 15 consecutive days, with the remainder exercisable when the
Company's share price exceeds 3 pence for 15 consecutive days at any
time before the tenth anniversary of the issue date.
The Company does not currently have the requisite authority to issue the
shares pursuant to the award of options, and therefore the issue of
these options is conditional on shareholder approval of the requisite
authority, which will be proposed at the next Annual General Meeting of
the Company planned for March 2015.
The table below sets out the schedule of options that have been issued
to directors and others.
Number of Number of
new existing Maximum beneficial
options options interest (number
issued held Total number of options held Number of ordinary shares held of shares)
Deborah
White 40,056,000 6,000,000 46,056,000 34,883,774 80,939,774
Tony
Sanders 15,352,000 - 15,352,000 1,500,000 16,852,000
David
Hill 3,676,000 4,000,000 7,676,000 1,000,000 8,676,000
Kevin
Everett 3,582,000 - 3,582,000 - 3,582,000
Others 23,121,000 9,085,000 32,206,000 532,752,258 564,958,258
TOTAL 85,787,000 19,085,000 104,872,000 570,136,032 675,008,032
The total number of 104,872,000 options in issue represents 18.4 per
cent. of the Company's share capital of 570,136,032.
Related Party Transaction
The issue of 62,666,000 options to directors is a related party
transaction under the AIM Rules for Companies. Jim Brown, who is the
Company director independent of the transaction, having consulted with
the Company's nominated adviser, Cairn Financial Advisers LLP, considers
that the terms of the transaction are fair and reasonable insofar as its
shareholders are concerned.
For further information:
Milestone Group PLC
Deborah White, Chief Executive Tel: 020 7929 7826
Cairn Financial Advisers LLP Tel: 020 7148 7900
Nominated Adviser
Liam Murray / Avi Robinson
Hybridan LLP
Broker Tel: 020 3713 4581
Claire Louise Noyce
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Milestone Group PLC via Globenewswire
HUG#1882241
http://www.milestonegroup.co.uk/
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