Business
Warrants
Warrants.
About this update from Mindflair Plc
[{"type":"text","content":"\n Oak Holdings PLC\n19 December 2005\n\n Oak Holdings plc / Epic: OAH / Index: AIM / Sector: Property Development\n\n19 December 2005\n\n Oak Holdings plc ('Oak' or 'the Company)\n\n\n Grant of warrant to subscribe for new shares to strategic consultant\n\n\nOak Holdings plc, the AIM listed property development and consultancy group, has\ntoday granted to David Taylor Partnerships Limited ('DTP') a warrant to\nsubscribe for 4,500,000 new ordinary shares of 1 pence each in the Company.\nThese are exercisable at a price of 2 pence per share at any time between\nreceiving a planning consent that can be implemented in respect of the Group's\nYes! Project and 31 December 2007.\n\nDTP, headed by David Taylor, one of the UK's leading development management\nconsultants engaged in regeneration projects, has been acting for the Company in\nconnection with the Yes! Project, its major leisure and entertainment scheme in\nSouth Yorkshire. DTP has agreed to invoice only a small proportion of its\nnormal level of fees and as such the Company has agreed that DTP will invoice a\nsuccess fee when Oak receives the planning consent which can be implemented for\nthe Yes! Project. Such success fee will be wholly satisfied by the issue of the\nwarrants which will become exercisable upon the grant of such planning consent.\n\nOak Chief Executive Steve Lewis said: 'In recognition of DTP's significant\ncontribution to the project and its belief in both the commercial and\nregeneration merits of project, the Board considered it appropriate to entitle\nDTP to participate in the increase in value which planning consent should create\nfor all shareholders.'\n\nThe planning process is continuing to move forward satisfactorily and the\nCompany is optimistic about being able to report the outcome of the planning\napplication in the near future.\n\n\n * * ENDS* *\n\n\nContacts:\n\nStephen Lewis Oak Holdings plc\nTel: 020 7493 5522\n\nIsabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477\n\n\n\nNotes for editors:\n\n• AIM-listed Oak Holdings plc is a development company and property\n consultancy.\n\n• Its strategic focus has been on developing mixed-use, leisure-oriented\n projects in addition to creating an income-producing property consultancy\n business.\n\n• Oak's flagship scheme is the YES! Project located on a 327 acre\n ex-coalfield...