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Issue of Equity, Grant of Options and TVR

Oct 15, 2013

RNS Number : 4865Q
@UK PLC
15 October 2013

 

@UK PLC

("@UK" or the "Company")

ISSUE OF EQUITY and OPTIONS,

TOTAL VOTING RIGHTS

@UK plc (AIM: ATUK) the cloud eCommerce marketplace, announces the following issues of new ordinary shares of 1p each in the Company ("Shares") and options over Shares:

(1)  745,462 Shares under the Company's Share Incentive Plan ("SIP"), including 18,182 shares to each of Ronald Duncan, Chairman of the Company, and Lyn Duncan, Executive Director of the Company, to be held by the SIP Trustees, issued to UK employees of the Company in respect of subscriptions calculated at 33p per Share;

(2)  400,000 Shares to Dale Stephens, the Company's recently appointed CEO of Asia Pacific, as part of his remuneration package and calculated at 33p per Share;

(3)  90,909 Shares to Patrick Broughton, a proposed Non-Executive Director of the Company and the Company's President of Asia Pacific, in lieu of remuneration and calculated at 33p per Share. These Shares are to be released to Mr Broughton in equal quarterly portions over the next 3 years;

(4)  153,636 Shares in lieu of payments for services to various organisations, calculated at 33p per Share;

(5)  500,000 Shares pursuant to an exercise of warrants to subscribe for Shares at 2p per Share; and

(6)  3,324,269 Shares pursuant to the exercise by certain @UK employees of options to subscribe for Shares at 1.75p and 3.5p per Share.

Application will be made for the admission to trading on AIM ("Admission") of the 5,214,276 new Shares detailed above, and Admission is expected to occur on 21 October 2013.

Following Admission, the Company shall have 106,181,787 Ordinary Shares in issue, each with voting rights (which figure may be used by shareholders in the Company 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 Financial Conduct Authority's Disclosure and Transparency Rules).

In addition, options over Shares were granted yesterday as follows:

(1)  2,480,000 options to employees under the Company's EMI Option Scheme, including 450,000 options to each of Ronald Duncan and Lyn Duncan. These options which are exercisable at 33p per Share vest monthly between the 3rd and 5th anniversary of the date of grant (14 October 2013) and expire after 10 years.  Following this grant, each of Ronald Duncan and Lyn Duncan holds 782,867 options over Shares;

(2)  600,000 options to members of the Company's Australian team under the Company's Australian Option Scheme, including 300,000 options to Patrick Broughton, proposed Non-Executive Director of the Company. These options are exercisable at 65p per Share equivalent to a 49.5% premium to the closing price of 43.5p on 14 October 2013. These options vest monthly between the 2nd and 3rd anniversary of the date of grant (14 October 2013) and expire after 4 years; and

(3)  150,000 options to members of the Company's Indian team under the Company's Indian Option Scheme.  These options are exercisable at 33p per Share and vest monthly between the 3rd and 5th anniversary of the date of grant (14 October 2013) and expire after 10 years.

 

For further information:

@UK PLC                                                              Tel: 0118 963 7000

Ronald Duncan, Chairman         

 

Westhouse Securities Limited                           Tel: 020 7601 6100

Tom Griffiths/Richard Johnson   

 

Newgate Threadneedle                                      Tel 020 7653 9850

Caroline Evans-Jones/Alex White 

 

About @UK PLC

@UK is Europe's leading transactional Cloud Platform with over 1 million users. The platform supports B2B eCommerce and eProcurement across a range of public and private sector organisations providing a secure, controlled transactional environment for B2B trading.  The technology is unique in the B2B market, in that it delivers the B2C internet shopping experience in a business environment.  The platform has been rebranded to cloudBuy.com for global expansion with Visa and partner banks.  The platform is PCI DSS accredited, providing secure, integrated financial transactional capability, delivering savings to both the buyer and the supplier through greater accounts payables accuracy, reduction of manual processes and elimination of paper.

@UK provides an immediate business case using SpendInsight. SpendInsight was developed to recognize, match and classify products and services, providing buyers with greater visibility to spend data, and supports the identification of cashable savings, through unique product level matching artificial intelligence.  The output from this is then passed to the Visa member bank, for analysis by Visa to identify which suppliers accept card payments currently and compute the potential card rebate to fund the B2B ecommerce platform.

For more information, visit www.cloudbuy.com


This information is provided by RNS

The company news service from the London Stock Exchange

 

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