Share transaction
May 02 2003 - 1:59PM
UK Regulatory
RNS Number:7120K
Envesta PLC
02 May 2003
For immediate release: 2 May 2003
Envesta plc
Share Transaction
Envesta plc ("Envesta" or the "Company") today announces that Argo Trust
Limited, a Company in which DreamFarm SA ("DreamFarm") has an interest, has
agreed to acquire from Stephen Dean, Chairman of Envesta, and from other parties
connected with him, including Cater Barnard plc, 45,562,951 of the Company's
Ordinary shares. Prior to completion of the sale, 1,828,750 Preference shares in
Envesta held by Cater Barnard plc will be converted into 24,383,333 Ordinary
shares, and the resulting Ordinary shares will form part of the sale.
DreamFarm, through Argo Trust Limited, has agreed to acquire the stake at a
price of 6.25p per share, representing a 150% premium to Envesta's share price
on 1 May, the last day of trading prior to this announcement. Following
completion of this transaction, which is expected to take place on 19 May 2003,
DreamFarm will hold 23.3% of Envesta's issued Ordinary share capital and Stephen
Dean will no longer have a notifiable interest in the Company's shares.
Mr Vito Carlo Stampanoni-Bassi, President of Europa Telecomunicazioni SpA, a
wholly owned subsidiary of DreamFarm will join the board of Envesta plc with
immediate effect. Two other board appointments will follow completion of the
share acquisition.
Vito Carlo Stampanoni-Bassi (age 61) has no disclosures under paragraph (f) (ii)
- (viii) of Schedule two of the AIM Rules for Companies.
For further information please visit www.envestaplc.com or contact:
Kevin McGovern Rosie Brown/
Finance Director Melissa Hubbard
Envesta plc Tavistock Communications
Tel: 0870 767 7778 Tel: 020 7600 2288
Kevin.mcgovern@envestaplc.com rbrown@tavistock.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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