TXO PLC
("TXO" or the "Company")
ISSUE OF EQUITY
TXO, the AIM-quoted energy resource and clean technology investment company, announces that the Company has issued 36,191,705 new Ordinary Shares of 0.1p each at a price of 0.2p per share to certain directors and staff ("New Ordinary Shares"). Of these, 15,691,570 shares are being issued by way of reinvestment of remuneration totalling £31,383.14 and 20,500,135 shares are being issued to Tim Baldwin in settlement of invoices submitted pursuant to his service contract totalling £41,000.
Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 21 July 2014. The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.
Following Admission, the Company's enlarged issued share capital will comprise 700,426,104 Ordinary Shares with voting rights. The Company does not hold any shares in treasury. This figure of 700,426,104 Ordinary Shares may therefore 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
The Directors' shareholdings in the Company following Admission are as follows:
Director | Position | Existing Holding | No. of New Ordinary Shares | Enlarged Holdings | Enlarged Holding (%) |
Tim Baldwin | Executive Chairman | 8,750,000 | 20,500,135 | 29,250,135 | 4.18% |
Christopher Foster | Non-Executive Director | 0 | 4,750,000 | 4,750,000 | 0.68% |
Richard Harvey | Non-Executive Director | 250,000 | 4,249,935 | 4,499,935 | 0.64% |
Andrew Glendinning | Non-Executive Director | 50,000 | 4,416,635 | 4,466,635 | 0.64% |
Spencer Wilson | Non-Executive Director | 0 | 0 | 0 | |
TOTAL | 9,050,000 | 33,916,705 | 42,966,705 | 6.13% |
For further information:
TXO PLC
Tim Baldwin, Chairman +44 (0) 20 7518 4300
Northland Capital Partners Limited +44 (0) 20 7382 1100
John Howes/Alice Lane
Sales and Broking
Edward Hutton / William Vandyk
Nominated Adviser
Lothbury Financial Services Limited
Michael Padley / Chris Roberts +44 (0) 203 440 7620
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