Business
Mountfield Land
Mountfield Land.
About this update from Hellenic Dynamics Plc
[{"type":"text","content":"\n RNS Number : 4282D Mountfield Group plc 01 December 2009 \n \n\n\n\n\nPress Release \n\n\n 1 December 2009\n\n\n\n\n\n\nMountfield Group plc\n\n(\"Mountfield\" or the \"Company\")\n\nMountfield Land \n\nMountfield Group plc (AIM:MOGP), a provider of integrated specialist construction support services, announces that following the closure of Mountfield Land's (¨ML¨) East Grinstead office that company's operations have been moved to the Group's head office in Wickford. Chris Baron who managed the East Grinstead office has left its employment. \n\nIn addition, Chris Baron, a significant shareholder in the Company, has transferred 7,500,000 fully paid ordinary shares of 0.1p each in the Company (\"Ordinary Shares\"), representing 4.37 per cent. of the Company's issued share capital to the Company otherwise than for valuable consideration that is, without any cash or other form of consideration having been paid for them. The Ordinary Shares will be held by the Company as though they were in treasury until disposed of or cancelled. As a result of this, Chris Baron now no longer holds any Ordinary Shares in the Company.\n\nGraham Read, the Chief Executive of Mountfield, commented that: ¨The closure of the East Grinstead office follows a Board decision to change the strategy for ML. This now concentrates on substantial social housing schemes, particularly those for which Mountfield Building Group Limited would be able to undertake the design and construction. ML is currently in negotiations for a number of such schemes and the Board is optimistic that this area will become one which will produce significant income for the Group.¨\n\nFollowing the transfer, the Company's issued share capital will comprise 163,811,787 ordinary shares of 0.1p each with voting rights. \n\nThe above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.\n\n\n- Ends -\n\nFor further information:\n\n\n\n\nMountfield Group pl...