Business
Sale of Shares
Sale of Shares.
About this update from Steppe Cement Ltd
[{"type":"text","content":"\n Steppe Cement Limited\n12 May 2006\n\n\nSteppe Cement Limited\nSales of Shares by Director and Significant Shareholders\n\n\nSteppe Cement Limited ('the Company') has been advised by significant\nshareholder, David Crichton-Watt that his family's interests in Steppe Cement\nLimited shares has been reduced to 23,219,300 shares (20.4%) through on market\nsales of 1,000,000 shares at £1.97 each on 2 May 2006, 70,000 shares at £2.15\neach over 9 and 10 May 2006 and 5,500,000 shares at £2.05 each on 11 May 2006.\n\nThe Company also advised that interests controlled by significant shareholder,\nAzmi Wan Hamzah, have reduced their shareholding to 23,934,310 (21.0%) through\non market sales of 5,500,000 shares at £2.05 each on 11 May 2006.\n\nDirector, Javier del Ser Perez, has advised the Company that he has reduced his\nshareholding in the Company to 11,010,800 (9.7%) through on market sales of\n1,000,000 shares at £2.05 each on 11 May 2006.\n\nAs a consequence of these sales the combined interests of the above three\nshareholders has reduced to 51%. Under the terms of the loan arrangements the\nCompany has with the European Bank for Reconstruction and Development (EBRD) for\nthe refurbishment of the dry line cement manufacturing facilities the above\nmentioned significant shareholders agreed not to reduce their combined interest\nin the Company to below 51% without the prior consent of EBRD. As such none of\nthese shareholders are entitled to sell further shares in the Company without\nthe prior agreement of EBRD.\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]