CRK Clerkenwell

RNS Number:5635D
Clerkenwell Ventures PLC
10 September 2007


                            Clerkenwell Ventures PLC
                                (the "Company")

                   Completion of Placing and Grant of Options

Pursuant to the announcement on 6 August 2007, the Company has raised
approximately #25.6 million (before expenses) through the placing of 341,325,000
ordinary shares of 1p each ("Ordinary Shares") at a price of 7.5p per Ordinary
Share. In addition, David Page and Paul Campbell, both directors of the Company,
exercised share options for 1,000,000 Ordinary Shares each at a price of 3p per
Ordinary Share. David Page and Paul Campbell also acquired 1,600,000 Ordinary
Shares each as part of the placing at 7.5 per Ordinary Share.

The total number of Ordinary Shares and therefore the total voting rights is
currently 412,236,145. As mentioned in the announcement on 6 August 2007, the
Company will be consolidating its share capital at a ratio of 5 to 1 on 11
September 2007. Following the consolidation, the entire issued share capital
will be re-admitted to trading on 12 September 2007. Following the consolidation
and re-admission the total number of ordinary shares of 5p each in issue and
therefore the total voting rights will be 82,447,229.

Following the approval of the Clerkenwell Ventures plc 2007 Option Plan at the
EGM held on 3 September 2007, David Page, Paul Campbell and certain employees of
the Company were granted options over Ordinary Shares ("Options") at an exercise
price of 7.5p per Ordinary Share. Upon consolidation of the share capital as
described above, the Options will consolidate in number at a ratio of 5 to 1 and
the exercise price will increase by 5 times to 37.5p.

The tables below show the shareholdings of David Page and Paul Campbell prior to
and after consolidation.

Pre-consolidation:
                            Shareholding          Shareholding           Options
                      Number of ordinary  % of existing issued           granted
                       shares of 1p each         share capital
David Page                     5,683,433                 1.38%        15,453,191
Paul Campbell                  4,700,100                 1.14%        15,453,191
Employees                                                              4,000,000

Post consolidation:
                            Shareholding          Shareholding           Options
                      Number of ordinary           % of issued           Granted
                       shares of 5p each         share capital
David Page                     1,136,687                 1.38%         3,090,638
Paul Campbell                    940,020                 1.14%         3,090,638
Employees                                                                800,000

Following the approval of the Clerkenwell Ventures plc 2007 Long-Term Incentive
Plan ("LTIP") at the EGM held on 3 September 2007, David Page, Paul Campbell and
an employee of the Company have been granted units in the LTIP which subject to
the satisfaction of the terms and conditions will give entitlements to receive
ordinary shares of the Company. The maximum number of units that can be
allocated under the LTIP has been increased from 90 to 9,000 for administrative
reasons. The value attributable to each unit has been reduced by a ratio of 10
to 1. Therefore, the maximum value attributable to the participants under the
LTIP remains unchanged. The units granted are shown below:

                                                                           Units
                                                                         Granted
David Page                                                                 3,000
Paul Campbell                                                              3,000
Employee                                                                     450

Contacts:

Clerkenwell Ventures
David Page, Non-executive Chairman 07836 346934

Seymour Pierce Limited 020 7107 8000
David Newton/Nicola Marrin



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
ROIURURRBWRKAAR

Clerkenwell Ventures (LSE:CRK)
Historical Stock Chart
From Jul 2024 to Jul 2024

Clerkenwell Ventures (LSE:CRK)
Historical Stock Chart
From Jul 2023 to Jul 2024