Milestone Group PLC Milestone Group Plc : Issue Of Options And Warrants

 
TIDMMSG 
 
   24 August 2016 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Issue of Options and Warrants 
 
   Milestone announces that on 23 August 2016 the directors waived their 
entitlement to historic contingent liabilities (accrued in the balance 
sheet) of GBP704,347 and as a consequence the Company has issued them 
options over 78,260,782 Ordinary Shares. 
 
   The terms of the options 
 
 
 
 
Date of issue    23 August 2016 
Exercise price   0.1p 
Exercise period  To 23 August 2026 
 
 
   Furthermore, the Company announces that it has awarded an option to Tony 
Sanders, a director of the Company, over 3,333,334 Ordinary Shares and 
warrants to other directors, as set out in the table below, to subscribe 
for 35,797,060 new ordinary shares in the company. 
 
   The terms of the options and warrants are set out below 
 
 
 
 
Date of issue     23 August 2016 
Exercise price    50% at 1.25p; 50% at 1.75p 
Exercise period   To 23 August 2026 
Other conditions  options and warrants can only be exercised once the 
                   share price of the Company has exceeded 2.5p for 5-day 
                   consecutive period. 
 
 
   The Company does not have sufficient shareholder authority to grant all 
of the options and warrants set out above, consequently of the total 
16,000,000 options will be granted immediately, the balance of the 
options and warrants will be granted subject to shareholder approval 
that will be sought at a forthcoming General Meeting of the Company that 
will be convened shortly. 
 
   This arrangement significantly improves the balance sheet of the Company 
allowing it to use its cash resources to finalise existing contracts as 
well as securing new ones. 
 
   The table below sets out the schedule of options and warrants that have 
been issued to directors and others. 
 
 
 
 
                                               No. of                                               No. 
                                              Existing    Total No.      New      Total No. of   Ordinary 
                                              Options    of Options    Warrants     Warrants      Shares 
                  No. of New Options Issued     Held        Held        Issued        Held         held 
 
  Deborah White                  49,149,668  46,056,000   95,205,668  24,574,834    24,574,834   35,439,330 
 
  Tony Sanders                    10,000002  15,352,000   25,352,002           -             -    1,500,000 
 
  David Hill                      9,333,334   7,676,000   17,009,334   4,666,668     4,666,668    1,000,000 
 
  Kevin Everett                   7,777,778   3,582,000   11,359,778   3,888,890     3,888,890            - 
 
  James Brown                     5,333,334           -    5,333,334   2,666,668     2,666,668            - 
 
  Others                                  -  27,252,000   27,252,000           -    75,134,400  720,908,652 
Total                            81,594,116  99,918,000  181,512,116  35,797,060  110,931,4600  758,847,982 
 
 
   The total number of 181,512,116 options in issue represents circa 23.9 
per cent of the Company's issued ordinary share capital.  In addition, 
the 110,931,460 warrants represent circa 14.6 per cent. of the Company's 
issued ordinary share capital. 
 
   For further information: 
 
 
 
 
 
  Milestone Group PLC                                  Tel: 020 7929 7826 
  Deborah White, Chief Executive 
 
Cairn Financial Advisers LLP, Nominated Adviser 
 Liam Murray                                           Tel: 020 7148 7900 
 
Hybridan LLP, Broker 
 Claire Louise Noyce                                   Tel: 020 3764 2341 
 Walbrook PR Limited, PR                               Tel: 020 7933 8780 
 Gary Middleton / Paul Cornelius / Paul Whittington 
 
 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
   HUG#2036819 
 
 
  http://www.milestonegroup.co.uk/
(END) Dow Jones Newswires
August 24, 2016 02:00 ET (06:00 GMT)
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