Business
Share Buyback, Director Dealing & Resignation
Share Buyback, Director Dealing & Resignation.
About this update from Frenkel Topping Group Plc
[{"type":"text","content":"\n \nRNS Number : 4333Z Frenkel Topping Group PLC 15 December 2017 \n\n \n \nFrenkel Topping Group plc\n(\"Frenkel Topping\" or \"the Company\")\n \nShare Buyback, EBT Purchase, Director Dealing and Resignation of Director\n \nFrenkel Topping Group plc (AIM: FEN) announces that on 14 December 2017 it acquired 3,000,000 ordinary shares of 5 pence each in the capital of the Company (\"Ordinary Shares\") at 58.5p each (the \"Repurchase\") and that it has been informed that the Frenkel Topping Employee Benefit Trust (\"EBT\") also acquired 3,000,000 Ordinary Shares at 58.5p each (the \"EBT Purchase\"). These acquisitions have been made from Jason Granite, a director of the Company, and FCFM Group Limited (\"FCFM\"), a firm of which Jason Granite is a director and substantial shareholder. Jason Granite sold 744,772 Ordinary Shares each and FCFM sold 5,255,228 Ordinary Shares all at 58.5p each. The Company also announces that Jason Granite has resigned both from the Company and as a Director with immediate effect to pursue other interests.\nTotal Voting Rights\nThe Ordinary Shares which have been purchased by the Company will be held in treasury. Following the Repurchase, the Company holds 3,000,000 Ordinary Shares in treasury and has 75,657,349 Ordinary Shares in issue, excluding those held in treasury.\nTherefore the total number of voting rights in the Company is 75,657,349 which may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.\nHolding(s) in Company\nFollowing the EBT Purchase, the EBT is interested in 6,178,016 Ordinary Shares, representing 8.17 per cent of the Company's total voting rights.\nThe EBT is a discretionary trust for the benefit of employees of the Company and its subsidiaries, who have been granted share options. The Executive Directors of the Company are included in the class of potential beneficiaries of the EBT and are deemed to be interested in those shares and the dealings thereof.\nFollowing the Repurchase and the EBT Purchase, FCFM holds 4,457,613 Ordinary Shares, representing 5.89 per cent. of the Company's total voting rights. Jason Granite no longer has a direct...