Founders Placing
May 22 2002 - 12:34PM
UK Regulatory
RNS Number:2906W
Charteris PLC
22 May 2002
CHARTERIS PLC
22 MAY 2002
Charteris plc
("Charteris" or "the Company")
Charteris, the business and IT management consultancy, announces that following
the exercise of options by certain of its directors, Teather & Greenwood Limited
has today placed 2,690,000 ordinary 1p shares at 85p per share. These shares
were placed with both new and existing institutional shareholders on behalf of,
inter alia, a certain number of director and employee shareholders.
Three directors today exercised the following options at an exercise price of
1.07p per share:
David Pickering 2,250,000
John Millar 2,250,000
Alan Woodward 150,000
Pursuant to the exercise of options under the 1998 Unapproved Share Option
Scheme, David Pickering and John Millar have each sold 1,150,000 shares and Alan
Woodward has sold 150,000 shares. As a result, both David Pickering and John
Millar have increased their shareholdings from 2,250,000 shares to 3,350,000
shares and each is now interested in 8.1% of the enlarged issued share capital.
A further 120,000 ordinary shares were placed on behalf of staff.
Application has been made to the London Stock Exchange to have 4,650,000 new
ordinary shares admitted to AIM. Dealings are expected to commence on 29 May
2002. These new shares will rank pari passu with the existing ordinary shares of
the Company.
Subsequent to this placing, the interests of the following directors in the
ordinary share capital of the Company, including family interests, are:
No. of shares % of issued share capital
David Pickering 3,350,000 8.1%
John Millar 3,350,000 8.1%
Alan Woodward 450,000 1.1%
Chris Rees (Note 1) 4,403,000 10.7%
The placing was undertaken on 22 May 2002 and represented 6.5% of the Company's
enlarged issued share capital.
Commenting on the placing, David Mann Chairman of Charteris said:
"I am delighted that we have been able to attract new institutional shareholders
as well as continued support from our existing shareholders, thereby increasing
our institutional investor base and liquidity.
The company continues to make good progress towards meeting market expectations
and remains well on course in pursuing the strategic objectives declared when it
came onto AIM in November 2000"
Note 1
Chris Rees has today gifted 123,000 Ordinary Shares in the Company representing
0.3% per cent. of the enlarged issued share capital of the Company. 120,000 of
the shares have been gifted to the Westminster Synagogue and these shares have
been sold on their behalf as part of the total shares placed.
Enquiries:
David Pickering/Marsali Harwood, 020 7600 9199
Charteris PLC
Richard Thompson, 020 7426 9073
Teather & Greenwood Limited
END
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