Released: 21/07/2006
RNS Number:5607G
Spiritel PLC
21 July 2006
21 July 2006
SPIRITEL PLC
("Spiritel" or "the Company")
Issue of equity and grant of share options
Spiritel plc (AIM: STP), the telecommunications services business, is pleased to
announce the following issues of equity and grants of options over ordinary
shares of 1p each in the Company ("Shares"):
Lord St John of Bletso, non-executive Chairman, has chosen to receive settlement
in respect of Director's fees amounting to £20,000 through the issue to him of
533,333 new Shares, each with a deemed value of 3.75 pence, being the mid-market
closing price per share on 19 July 2006. Following this transaction Lord St John
of Bletso will hold an aggregate of 683,333 Shares in the Company, being 0.4
percent of the enlarged issued ordinary share capital. He also holds options
over 285,714 Shares.
Mark Willard, non-executive Director, has opted to accept settlement in respect
of compensation for loss of office amounting to £65,600 through the issue to him
of 1,749,333 new Shares, each with a deemed value of 3.75 pence. Mark Willard's
move from executive to non-executive status was previously announced on 6 April
2006. Following this transaction, Mark Willard will hold an aggregate of
16,927,457 Shares in the Company, being 10.1 percent of the enlarged issued
ordinary share capital. He also holds options over 773,633 Shares.
Application has been made for the 533,333 new Shares issued to Lord St John of
Bletso and the 1,749,333 Shares issued to Mark Willard to be admitted to trading
on AIM . These Shares will rank pari passu with the existing Shares and dealings
are expected to commence on 29 July 2006. The enlarged issued ordinary share
capital of the Company following this application is 167,688,676 Shares.
In addition, Alastair Mills, Chief Executive Officer, has been awarded a grant
of options over 2,000,000 Shares at an exercise price of 5 pence per Share under
the Company's EMI Scheme. As a result, existing grants of options over 342,858
Shares will be cancelled. Following these transactions, Alastair Mills will
hold, in addition to this new grant, options over 3,571,428 Shares at an
exercise price of 7 pence per share. He is not currently the holder of any
equity of the Company.
Awards of options have also been granted to employees of Spiritel group
companies in an aggregate over 7,250,000 Shares under the Company's EMI Scheme,
each with an exercise price of 5 pence per Share. As a result, existing grants
of options over 171,430 Shares will be cancelled.
Following these transactions, the Company will have outstanding options over
14,841,550 Shares, representing 8.9 percent of the enlarged issued ordinary
share capital.
Alastair Mills, Spiritel's Chief Executive, commented: " I am delighted that
both our Chairman and Mark Willard have elected to receive shares in lieu of
cash as it underlines their confidence in the Company's prospects. I am also
pleased that the Company has been able to reward and incentivise the employee
group through granting options under the Company's EMI Scheme"
For further information:
Spiritel plc 020 7160 0100
Alastair Mills, Chief Executive
Teather & Greenwood 020 7426 9000
Jeff Keating
Buchanan Communications 020 7466 5000
Mark Court
Mary-Jane Johnson
Notes for Editors:
About Spiritel plc
Spiritel plc (AIM: STP) is a telecommunications services and products company
that joined the AIM market of the London Stock Exchange in July 2004. Its
services include call termination and in addition it has developed a suite of
leading-edge VoIP products, positioning the Company to benefit from the
migration from traditional telephony to VoIP services.
For further information please visit www.spiritelplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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