LNG Leisure&Gaming

 

TIDMLNG 
 
RNS Number : 9431I 
Leisure & Gaming plc 
22 March 2010 
 

                              Leisure & Gaming plc 
                                ("the Company") 
 
              Holdings in Company/ Employee Benefit Trust ("EBT") 
 
Leisure & Gaming plc, the AIM listed European betting and gaming group, was 
informed on 18 March 2010 that HSBC Global Custody Nominee (UK) Limited (Acct 
968747), acting as custodian for SG Hambros Trust Company (Channel Islands) 
Limited who act as trustee for the Company's EBT (the "Trustee"), sold ordinary 
shares in the Company as follows: 
 
 
+-------------+-------------+----------+-------------+--------------+ 
| Date of     |   Number of |   Number |   Number of |    Resulting | 
| Transaction |      Shares |       of |      Shares |         % of | 
|             |    previous |   Shares |       after |       voting | 
|             |          to |     sold | transaction |   rights (as | 
|             | transaction |          |             |   at time of | 
|             |             |          |             | transaction) | 
+-------------+-------------+----------+-------------+--------------+ 
| 8 October   |   7,000,000 |  150,000 |   6,850,000 |        7.27% | 
| 2008        |             |          |             |              | 
+-------------+-------------+----------+-------------+--------------+ 
| 9 October   |   6,850,000 |  100,000 |   6,750,000 |        7.17% | 
| 2008        |             |          |             |              | 
+-------------+-------------+----------+-------------+--------------+ 
| 8 May 2009  |   6,750,000 |   36,547 |   6,713,453 |        7.13% | 
+-------------+-------------+----------+-------------+--------------+ 
| 12 May 2009 |   6,713,453 |  150,000 |   6,563,453 |        6.97% | 
+-------------+-------------+----------+-------------+--------------+ 
| 13 May 2009 |   6,563,453 |  150,000 |   6,413,453 |        6.81% | 
+-------------+-------------+----------+-------------+--------------+ 
 
As at 19 March 2010, the ordinary issued share capital of the Company is 
94,429,687 shares. The Trustee's holding of 6,413,453 shares therefore currently 
represents 6.79% of the total voting rights in the Company. 
 
Further to the announcement made at the time of our interim results last summer, 
the Company has now largely concluded its review of the allotment of 7,000,000 
ordinary shares to the Trustee, and the subsequent allocation of those shares by 
the Trustee. 
 
Based on the facts uncovered in the course of the investigation to date, the 
Company has obtained legal advice that the allotment and issue of the 7,000,000 
shares to the Trustee was defective. Five of the seven beneficiaries of the EBT 
have left the Company.  Accordingly, the Company proposes in due course to seek 
court approval for the rectification of its share register through the 
cancellation of the 6.4 million ordinary shares currently held by the Trustee. A 
further announcement will be made in due course as soon as is feasible. 
 
 
For further information, please contact: 
 
Leisure & Gaming plc 
Richard Creed 
                  Tel 020 8545 2190 
FinnCap - nominated adviser and broker 
 
Geoff Nash/Charlotte Stranner (Corporate Finance) 
Tel 020 7600 1658 
Simon Starr (Corporate Broking) 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCSEEFFEFSSEID 
 

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