Chairman's Exercise of Options
August 06 2010 - 11:51AM
UK Regulatory
TIDMSVE
Friday 6 August 2010
Chairman's exercise of options - 6 August 2010
Starvest plc ('Starvest' or the 'Company'), the provider of finance to fledgling
businesses with a focus on mineral exploration and development, announces that
it received notification on 5 August 2010, of the exercise of 1,600,000 options
to subscribe for Ordinary Shares of 1 pence each in the Company at a price of 5
pence per share and of the exercise of 200,000 options to subscribe for Ordinary
Shares in the Company at a price of 6 pence per share by directors of the
Company as stated below:
+--------------------+-----------------------------+----------------+
| | Number of options exercised | Exercise price |
+--------------------+-----------------------------+----------------+
| Ronald Bruce Rowan | 1,400,000 | 5 pence |
+--------------------+-----------------------------+----------------+
| Ronald Bruce Rowan | 200,000 | 6 pence |
+--------------------+-----------------------------+----------------+
| John Watkins | 200,000 | 5 pence |
+--------------------+-----------------------------+----------------+
| Total | 1,800,000 | |
+--------------------+-----------------------------+----------------+
As a result of this exercise of these options, the directors' interests in the
Ordinary Shares of the Company are as follows:
+------------------+---------------+-------------------------------------------+
| |Shares now held|Percentage of issued ordinary share capital|
+------------------+---------------+-------------------------------------------+
|Ronald Bruce Rowan| 10,170,000| 27.85%|
+------------------+---------------+-------------------------------------------+
|John Watkins | 1,035,000| 2.83%|
+------------------+---------------+-------------------------------------------+
In addition to their interests in the Ordinary Share Capital of the Company
stated above, Mr Rowan and Mr Watkins remain interested in the following options
to subscribe for the Company's Ordinary Shares.
+--------------------+---------------------+----------------+
| | Options outstanding | Exercise price |
+--------------------+---------------------+----------------+
| Ronald Bruce Rowan | 1,750,000 | 15 pence |
+--------------------+---------------------+----------------+
| John Watkins | 500,000 | 5 pence |
+--------------------+---------------------+----------------+
| John Watkins | 100,000 | 6 pence |
+--------------------+---------------------+----------------+
| John Watkins | 875,000 | 15 pence |
+--------------------+---------------------+----------------+
Application will been made for the New Ordinary Shares, which rank pari passu
with the Company's existing issued Ordinary Share capital, to be admitted to
trading on AIM. It is expected that the admission of the New Ordinary Shares to
trading on AIM will occur on 13 August 2010.
Following the issue and allotment of the new Ordinary Shares, the Company will
have 39,017,259 Ordinary Shares of 1 pence each in issue of which 2,300,000 are
held in treasury, therefore the number of Ordinary Shares in issue with voting
rights is 36,717,259.
Enquiries to:
Bruce Rowan, Chairman 020 7486 3997 or John Watkins, Finance Director
07768 512404; john@starvest.co.uk
Gerry Beaney or Colin Aaronson Grant Thornton Corporate Finance 020 7383 5100
END
[HUG#1436545]
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Source: Starvest plc via Thomson Reuters ONE
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