Brainspark PLC
03 January 2006
For immediate release 3 January 2006
Brainspark plc
('Brainspark' or the 'Company')
Conversion of Loan Stock
Further to the announcements made on 2 and 23 December 2005, Company has issued
and allotted a total of 138,423,912 new ordinary shares of 0.01p each ('new
ordinary shares') pursuant to exercise notices received in respect of the
£850,000 convertible loan stock .
The new ordinary shares will rank, pari passu, with the existing shares in issue
and application will be made for the new ordinary shares to be admitted to
trading on AIM. However, as announced on 2 December 2005, the new ordinary
shares are subject to twelve month 'lock in' arrangements.
The total number of ordinary shares in issue is now 330,697,003.
As a result, the following changes have occurred to the Directors' holdings:
New ordinary Total holding % of enlarged
shares issued following issued share
conversions capital
Francesco Gardin 36,000,000 67,903,278 20.53
Alfredo Villa 51,389,130 51,389,130 15.54
Dennis Bailey 10,869,565 10,869,565 3.29
(Proposed Director)
In addition, the following changes have occurred to the holders of more than 3
per cent. of the Company's issued share capital:
New ordinary Total holding % of enlarged
shares issued following issued share
conversions capital
Luigi Fogliani 29,481,304 29,401,304 8.89
Cross Atlantic - 33,916,050 10.26
Partners Technology
Fund LP*
* Mr Don Caldwell, a Director of Brainspark, is founder and Chairman of Cross
Atlantic.
ENDS
Further information
Francesco Gardin, Brainspark 020 7843 9838
Roland Cornish, Beaumont Cornish Limited 020 7628 3396
This information is provided by RNS
The company news service from the London Stock Exchange