Quadrant Group Plc - Director Shareholding etc.
31 May 2000 - 3:27AM
UK Regulatory
RNS Number:4124L
Quadrant Group PLC
30 May 2000
Quadrant Group PLC
Director's Shareholding
At the Extraordinary General Meeting ("EGM") of the
Company held on 27 September 1997 the Company's
shareholders approved the issue of warrants to Scawton
Limited to subscribe for 550,000 of the Company's
ordinary 20p shares ("Ordinary Shares") at a subscription
price of 100p per Ordinary Share ("Warrants"). Scawton
Limited is a company associated with David Coghlan, a
Director of the Company. The Warrants were exercisable at
any time following the Company's Annual General Meeting
on 21 October 1997 and prior to 29 May 2000. Full details
surrounding the issue of the Warrants were set out in the
circular to shareholders dated 10 September 1997 and the
accompanying notice of EGM.
On 24 May 2000 Scawton Limited transferred 270,000
Warrants to Arazan Limited, also a company associated
with David Coghlan. On 29 May 2000 Arazan Limited
exercised Warrants to subscribe for 170,000 Ordinary
Shares at a subscription price of 100p per Ordinary
Share. The Company has also been notified that, on the
same date, Arazan acquired a beneficial interest in an
additional 70,000 Ordinary Shares at a price of 100p per
share.
Following the exercise of Warrants and acquisition of
interest in shares by Arazan Limited, David Coghlan's
interest in the ordinary share capital of the Company has
risen by 240,000 Ordinary Shares to 1,930,875 Ordinary
Shares representing 29.98 per cent of the Company's
enlarged issued share capital.
Application will be made for 170,000 Ordinary Shares to
be admitted to the Official List. Admission is expected
to become effective on Monday 5 June 2000.
END
RDSILFIDEVIIVII
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