Business
Proposed secondary block placing
Proposed secondary block placing.
About this update from Accesso Technology Group Plc
[{"type":"text","content":"\n \nRNS Number : 2616U Accesso Technology Group PLC 05 April 2016 \n\nNot for publication, distribution or release directly or indirectly, in whole or in part, in or into the United States, Australia, Canada, Japan or Republic of South Africa or any other jurisdiction in which offers or sales would be prohibited by law.\n \n5 April 2016\n \n \naccesso® Technology Group plc\n(\"accesso\" or the \"Company\")\n \nProposed secondary block placing of up to 1,979,751 Ordinary Shares in accesso\naccesso Technology Group plc (AIM: ACSO), today announces that it has been advised by certain shareholders of the Company (the \"Selling Shareholders\"), including certain Board Directors of the Company, of their intention to sell up to 1,979,751 ordinary shares in the Company (\"Placing Shares\") to institutional investors (the \"Placing\"). The Placing Shares in aggregate represent approximately 8.9% of the Company's issued share capital.\nThe Company has been notified today that John Alder, Chief Financial Officer, intends to exercise a total of 100,000 options over ordinary shares in the Company (\"Options\"), 40,000 at a price of 57.5 pence per share and 60,000 at a price of 156 pence per share, and one of the other Selling Shareholders also intends to exercise 30,400 Options (together, the \"Exercises\"). All the new ordinary shares from the Exercises are included within the Placing Shares. Following the Exercises, the Company's issued share capital will consist of 22,160,723 ordinary shares of 1 penny each. The Company holds no Ordinary Shares in Treasury.\nDetails of the maximum numbers of Placing Shares to be disposed of by the Selling Shareholders are as follows:\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nResultant holding assuming all Placing Shares sold1\n\n\n\n\n\nDirector / employee\n\n\nCurrent shareholding\n\n\nOptions exercised\n\n\nMaximum number of Placing Shares\n\n\nOrdinary Shares\n\n\n%\n\n\n\n\nTom Burnet2\n\n\n853,818\n\n\nNil\n\n\n426,909\n\n\n426,909\n\n\n1.93%\n\n\n\n\nJohn Alder\n\n\n6,612\n\n\n100,000\n\n\n100,000\n\n\n6,612\n\n\n0.03%\n\n\n\n\nSteve Brown\n\n\n1,133,916\n\n\nNil\n\n\n500,000\n\n\n633,916\n\n\n2.86%\n\n\n\n\nLeonard Sim\n\n\n2,043,575\n\n\nNil\n\n\n800,000\n\n\n1,243,575\n\n\n5.61%\n\n\n\n\nOther shareholders\n\n\nNA\n\n\n30,400\n\n\n152,842\n\n\nNA\n\n\nNA\...