Issue of Equity
- January 21, 2017
- Posted by: Prayush Piya
- Category: Malvern Partner News
Malvern International plc (AIM: MLVN), the provider of educational services in the UK, Europe and Asia, is pleased to announce that it has received the Tranche 2 of share subscription from Sam Malafeh, Deputy Chief Executive Officer, which was agreed on his appointment and outlined in an announcement dated 5 September 2016.
Gopinath Pillai, Chairman, commented: “As Chairman, I am indeed happy to see Dr.Sam Malafeh’s second contribution to the equity of the company. The spirit behind this payment is more important than the money itself. It shows that Sam as the Deputy CEO is confident of the future of the company and feels his investment is safe and is likely to grow. We all share his optimism.”
On joining the Group Dr Malafeh agreed to subscribe for new Ordinary Shares at par value of 5p each on the following basis:
|
Date |
Amount |
Subscription price |
Number of shares |
|
|
Tranche 1 |
On appointment |
£200,000 |
5p |
4,000,000 |
|
Tranche 2 |
On or before 15 January 2017 |
£100,000 |
5p |
2,000,000 |
|
Tranche 3 |
On or before 15 March 2017 |
£150,000 |
5p |
3,000,000 |
Application has been made for the 2,000,000 new Ordinary Shares arising pursuant from Tranche 2 to be admitted to trading on AIM. Dealings are expected to commence on 25 January 2017.
In accordance with the provisions of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following these transactions, its issued share capital will comprise 94,277,983 Ordinary Shares of 5p each. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company is therefore 94,277,983. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules
Following the issue Dr Malafeh is interested in a total of 6,000,000 Ordinary Shares representing approximately 6.36 per cent. of the Company’s issued share capital.
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Dr Sam Malafeh |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Director |
||||
|
b) |
Initial notification/ Amendment |
Initial Notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Malvern International plc |
||||
|
b) |
LEI |
N/A |
||||
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 1p each GB00B04XB679 |
||||
|
b) |
Nature of the transaction |
Receipt of deferred consideration shares |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information – Aggregated volume – Price |
2,000,000 £100,000 |
||||
|
e) |
Date of the transaction |
19 January 2017 |
||||
|
f) |
Place of the transaction |
N/A |
||||
You can refer to LSE article here.