Eckoh announces that it has issued 1,229,488 new ordinary shares in the capital of the Company .
Eckoh announces that it has issued 1,229,488 new ordinary shares in the capital of the Company (the "New Ordinary Shares") following an exercise of share options by employees, including 1,099,488 New Ordinary Shares by Ed Johnson, Chief Operating Officer of Eckoh UK (a PDMR of the Company).
The options being exercised were granted under the 2012 Eckoh Long Term Incentive Plan and the number of New Ordinary Shares that ultimately vested was subject to the satisfaction of share price targets which were comfortably exceeded well ahead of the earliest date of exercise, being 1 January 2016.
Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM, with dealings expected to commence on 19 June 2019 ("Admission").
Total Voting Rights
Following Admission, the Company will have a total of 255,351,256 Ordinary Shares in issue. Pursuant to the 2019 Annual Report published on 12 June 2019, 1,290,037 of these Ordinary Shares are held in treasury and, as a result, the Ordinary Shares in issue carrying voting rights will be 254,061,219. Shareholders may use this figure of 254,061,219 Ordinary Shares 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 FCA's Disclosure Guidance and Transparency Rules.
Of the New Ordinary Shares issued to Ed Johnson, 795,000 were sold on 12 June 2019 at a price of 44.5p per share, principally to cover the tax charge incurred immediately following the exercise of share options, with the balance of 304,488 New Ordinary Shares retained. As a result, Ed has an interest in 304,488 Ordinary Shares in the Company, representing approximately 0.1 per cent of the Company's total voting rights, as enlarged following Admission.
For more information contact:
Nik Philpot, Chief Executive Officer
Chrissie Herbert, Chief Financial Officer