Business
Further re: Exercise of Optio
Further re: Exercise of Optio.
About this update from Active Energy Group Plc
[{"type":"text","content":"\n RNS Number : 3115B Cinpart PLC 23 October 2009 \n \n\n23 October 2009\n\nCINPART PLC\n(\"Cinpart\" or the \"Company\")\n\nFurther re: Exercise of Options\n\nFurther 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.\n\nThe 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 £36,417, have been returned to the former employee.\n\nAs 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. \n\nEnquiries:\n\n\n\n\n\nCinpart\n\n\n\n\nChristopher Foster, Executive Director\n\n\nTel: 020 3176 3031\n\n\n\n\nKevin Baker, Chief Executive\n\n\nTel: 020 3176 3033\n\n\n\n\n\n\n\n\n\n\n\n\nMerchant John East Securities Limited (Nomad)\n\n\n\n\nJohn East/Simon Clements\n\n\nTel: 020 7628 2200\n\n\n\n\n\n\n\n\n\n\n\n\nMirabaud Securities LLP (Joint Broker)\n\n\n\n\nRory Scott\n\n\nTel: 020 7878 3360\n\n\n\n\n\n\n\n\n\nRivington Street Corporate Finance Limited (Joint Broker)\n\n\n\n\nMonisha Varadan\n\n\nTel: 020 7562 3389\n\n\n\n\n\n\n\n\n\n\n\n\nHansard Group (Public Relations) \n\n\n\n\nVikki Krause\n\n\nTel: 020 7245 1100\n\n\n\n\n\n\n\n \n \n\n \n \n\nThis information is provided by RNSThe company news service from the ...