The Company today announces that on 20 September 2012 Nik Philpot, Chief Executive Officer of Eckoh, and Adam Moloney, Finance Director of Eckoh have exercised a number of option schemes. Following these transactions, both Nik Philpot and Adam Moloney have increased their holding in the Company.
In accordance with the rules of the Eckoh plc share option scheme (1999), the Eckoh plc Enterprise Management Initiative Share Option Plan (2007) and the 2010 Eckoh plc Bonus Plan, 4,537,075 ordinary shares of 0.25p each in the Company ('Ordinary Shares') have been exercised, the detail of which is listed in the supporting materials to the right.
In addition, other employees of Eckoh have exercised options over a further 766,909 ordinary shares of 0.25p each in the Company.
Pursuant to the exercise of the options, the Company has allotted 5,303,984 new Ordinary Shares and now has 208,863,560 Ordinary Shares in issue, each carrying the right to one vote. There are no shares held in Treasury. Shareholders may use the figure of 208,863,560 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, Eckoh under the FSA's Disclosure and Transparency Rules.
Following the exercise of the options above, the Company was informed on 20 September 2012 that Nik Philpot has sold 1,991,182 ordinary shares and that Adam Moloney has sold 1,900,315 ordinary shares in Eckoh at a price of 13.67 pence per share predominantly in order to cover the cost of exercise and the tax charge that crystallises on completion.
As a result of these transactions, Nik Philpot has increased his beneficial shareholding from 4,072,000 to 4,379,873 ordinary shares, which now represents 2.1% of the Company's total voting rights. Adam Moloney has increased his beneficial shareholding from 135,000 to 472,000 ordinary shares which now represents 0.2% of the Company's voting rights.
Nik Philpot, Chief Executive Officer
Adam Moloney, Group Finance Director
www.eckoh.com Tel: 01442 458 300