PGI Pgi Grp

RNS Number:6060L
PGI Group PLC
06 November 2006


PGI Group plc ("PGI" or the "Company")

12 per cent . Convertible Unsecured Loan Stock 2006 (the "Loan Stock")

PGI Group plc announces that the final conversion rights for the outstanding 
Loan Stock, as detailed in the circular published by the Company on 15 September 
2006, closed on 31 October 2006. 
 
Valid conversion notices have been received in respect of #7,508,030 nominal 
Loan Stock from Loan Stock holders, which represents an aggregate take-up of 
99.63 per cent. of the outstanding Loan Stock. 

The Law Debenture Trust Corporation p.l.c has exercised its rights under the 
terms of the Loan Stock trust deed to exercise all conversion rights for those 
Loan Stock holders who have not converted, with the net proceeds being for the 
benefit of those Loan Stock holders. 

Accordingly, #27,779 nominal of Loan Stock has been converted into 111,116 shares 
and sold in the market at 45 pence per ordinary share. All of these ordinary 
shares have been acquired by Nicholas Roditi, one of PGI's Non-Executive 
Directors. 

Following this share purchase, and conversion of Loan Stock, the Directors' 
shareholdings can be summarised as follows:

Director           Shareholding        New Ordinary   Purchase of Current    % of              
                   prior to conversion Shares         Ordinary    holding  issued
                   of Loan Stock      (from conversion Shares              share
                                       of Loan Stock)                      capital

Rupert Pennant-Rea      172,020           26,152            -    198,172    0.15

Geoff Moores             69,000            8,000            -     77,000    0.06

Sebastian Hobhouse      123,067           44,688            -    167,755    0.13

Steven Wayne          9,200,000                -            -  9,200,000    7.11

Barry Hill              140,000                -            -    140,000    0.11

Dr Julius Makoni              -                -            -          -    0.00

Nicholas Roditi      61,162,235       23,918,972      111,116 85,192,323   65.89

Application has been made to the UK Listing Authority and to the London Stock 
Exchange for 30,143,236 ordinary shares of 25p each to be admitted to the 
Official List. 
 
These shares, ranking pari passu in all respects with the existing shares in 
issue, have been allotted pursuant to the conversion of #7,535,809 nominal of 
12 per cent. Convertible Unsecured Loan Stock and to the rules of the Trust 
Deed. The New Ordinary Shares will begin trading at 8.00 a.m. on 7 November 2006. 

The issued share capital following conversion of the Loan Stock is now 
129,304,705 shares.

Enquiries 
 
Douglas Saveker (Secretary)  
020 7246 0205

                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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