Issue of Equity
03 Août 2007 - 5:52PM
UK Regulatory
RNS Number:5340B
Diamond Lifestyle Holdings PLC
03 August 2007
Diamond Lifestyle Holdings Plc (the "Company")
Issue of Equity / Directors Dealing
Deferred Consideration Shares
Pursuant to the Acquisition Agreement date 12 October 2006 (the "Agreement")
between Alan Kempson, Mark Maxwell, Sandra Kempson and Ravi Manchanda (the
"Vendors") and the Company details of which were set out in the Company's
Admission Document dated 15 November 2006 the Vendors are entitled to receive up
to 62,500,000 Deferred Consideration Shares in relation to the Company's
acquisition of Diamond.
The board announces that it has issued and allotted 48,750,000 new ordinary
shares of 0.5 pence in the Company in relation to the Deferred Consideration
Shares, details of which are set our below:-
Existing number Number of new Total holding in % holding in
of shares shares issued Company Company
Alan Kempson* 75,000,000 36,562,500 111,562,500 62.6%
Mark Maxwell 18,700,000 9,116,250 27,816,250 15.6%
Ravi Manchanda 6,300,000 3,071,250 9371,250 5.3%
48,750,000
*Alan Kempson is a director of the Company. Alan Kempson's shares are held by
Pershing Keen Nominees
Conversion of #55,000 unsecured convertible loan note
Furthermore, the board announces that it has received notification from the
holders of the #55,000 unsecured convertible loan note to convert the loan note
into ordinary shares of the Company. Details of the convertible loan note were
set out in the announcement made by the Company 4 August 2006. The #55,000
unsecured loan note has been converted into 2,749,700 new ordinary shares in the
Company.
Each of Paul Hughes and Marcus Yeoman, directors of the Company held #5,000 of
the loan note. The table below sets out their interest in the Company
subsequent to the conversion:-
Existing number Number of new Total holding in % holding in
of shares shares issued Company Company
Paul Hughes nil 250,000 250,000 0.1%
Marcus Yeoman 388,500 250,000 638,500 0.4%
Subsequent to the issue of new shares in the Company pursuant to the Deferred
Consideration Shares and Conversion share detailed above the enlarged issued
share capital of the Company is 178,150,514 ordinary shares of 0.5 pence.
Application has today been made for a total of 51,499,700 new ordinary shares in
the Company to be admitted to trading on AIM of the London Stock Exchange.
Trading in these shares is expected to commence 8 August 2007. The new ordinary
shares will rank pari passu with existing ordinary shares.
End
Contact
Liam Murray, Nominated Adviser
City Financial Associates Limited
Tel 020 7090 7800
This information is provided by RNS
The company news service from the London Stock Exchange
END
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