RNS Number : 2712U
24 December 2012
24 December 2012
("@UK" or the "Company")
Issue of Shares and Options - Exercises of warrants and Directors' Dealings
@UK PLC (AIM:ATUK.L), the cloud ecommerce marketplace, today announces the award of 2,303,784 share options to staff along with the issue of 5,415,753 new ordinary shares of 1p each in the Company ("Ordinary Shares") in relation to:
- 3,712,524 new shares, as a result of the exercise of 3,712,524 warrants at 2p each, including 2,500,000 by David Holloway, the non-executive director of the Company, and 125,000 by family of Ronald and Lyn Duncan, and
- 1,703,229 new Shares being awarded under the Company's Share Incentive Plan ("SIP"), to be held by the SIP Trustees, issued to employees in respect of awards calculated at 11.65 pence per new Share, being the closing mid-price of the Company's Shares on 21 December 2012.
Application has been made for the admission ("Admission") to trading on AIM of the 5,415,753 new Ordinary Shares and dealings are expected to commence on 3 January 2013.
Following Admission, the Company shall have 82,965,023 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 Service Authority's Disclosure and Transparency Rules).
Following Admission, Ronald and Lyn Duncan's family holdings in the Company will be 20,937,109 Ordinary Shares, representing approximately 25.2% of the Company's enlarged issued share capital. Following Admission, David Holloway's shareholding will be 8,660,666 Ordinary Shares, representing approximately 10.4 per cent of the Company's enlarged issued share capital.
The Company has today granted options over 2,303,784 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to staff including 332,867 each for Ronald and Lyn Duncan, Chairman and Executive Director respectively of the Company at an exercise price of 11.65 pence per Ordinary Share compared to the closing mid-market share price immediately prior to the award of the options of 11.65p (being the closing price on 21 December 2012). The options will be exercisable from the third anniversary of the date of grant and will expire unless exercised on or before 10 years from the date of grant.
Ronald Duncan, Chairman
Tel: 0118 963 7000
Westhouse Securities Limited
Tel: 020 7601 6100
Caroline Evans-Jones/Alex White
Tel: 020 7653 9850
@UK is Europe's leading Cloud Platform with over 1 million users, which is used for University and Colleges' procurement along with Local Authority, Schools and other Government and Private sector procurement.
The GeM marketplace for Universities on Colleges is the only card based national marketplace in the world and was successfully delivered for the 800 Universities and Colleges and the 680 National Suppliers, proving that Cloud Ecommerce delivers large complex projects for Government on time and budget.
Richard Benyon MP Minster for the Natural Environment, launched the @UK Green Ecommerce Marketplace back in October 2010, and it is now the largest repository of product carbon footprints in the World.
@UK was used by the National Audit Office to identify over £500 million in savings for 25% of NHS spend. The ground breaking SpendInsight system used to identify the savings resulted in the award of 2 PhD's in artificial intelligence.
@UK delivers key government commitments of Savings Sustainability, and SME Inclusion along with support for start-ups. @UK PLC has now created over 200,000 start up businesses and launched a new Cloud-Start-Up.com service to provide a complete suite of cloud business software to start-ups along with the essentials of Limited Company, Bank Account, Domain Name, Email, Ecommerce, Accounting system and membership of the @UK business club.
This has been followed by the announcement of the 2012StartUp.com campaign, which is supported by the AIM market of the London Stock Exchange, the Forum of Private Business, and Software Industry Association BASDA. The campaign aims for a 27% growth of 100,000 start up companies and growth for existing businesses. It is a practical campaign that will result in companies being formed and growing through @UK's technology.
@UK is included in the Software and Computer Services Sector (9530).
For further information please visit the @UK PLC websites
Investor Site http://www.uk-plc.net/invest
Main Site http://www.uk-plc.net
SpendInsight Site http://www.spendinsight.com
GreenInsight Site http://www.green-insight.com
Hybrid Carbon Footprint Site http://www.hybridcarbonfootprint.com
This information is provided by RNS
The company news service from the London Stock Exchange