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Result of General Meeting and Directors’ Shareholdings
04 Jun 2010
On 18 May 2010 the Company announced that it proposed to raise, subject to certain conditions, £8.0 million (before expenses) through a placing (the “Placing”) of 20,000,000 new ordinary shares of 1 pence each (the “Placing Shares”) at a price of 40p per ordinary share.
The Placing was conditional, inter alia, upon the passing of certain resolutions (the “Resolutions”) by shareholders to authorise the Directors to allot additional ordinary shares for cash on a non pre-emptive basis. Accordingly, a General Meeting was convened for the purpose of considering the Resolutions to approve these authorities.
The General Meeting of the Company was held earlier today and Sagentia is pleased to announce that all the Resolutions put to shareholders were duly passed.
Accordingly, application has been made to the London Stock Exchange plc for admission of the Placing Shares. Trading in the Placing Shares will be effective from 8.00 a.m. on 7 June 2010. With effect from that date, the Company’s total number of ordinary shares in issue will be 41,723,595 ordinary shares, each ordinary share having equal voting rights.
Directors’ shareholdings
As announced on 18 May 2010, certain of the Directors of Sagentia agreed to participate in the Placing.
Martyn Ratcliffe, the Company’s Chairman, and David Courtley, a non-executive Director, have respectively subscribed for 2,000,826 and 375,000 Placing Shares at the placing price of 40p.
In addition, and again as announced on 18 May 2010, certain directors have been awarded share options pursuant to the rules of the Company’s unapproved share option scheme. The share options will be allocated on the basis of 2.5 million to Martyn Ratcliffe and 1.0 million to Brent Hudson, the Company’s Chief Executive Officer. These options have been issued at a price of 40 pence per ordinary share and are subject to a performance condition such that the vesting will be the later of three years from the date of grant and the share price reaching 80 pence per ordinary share for 20 consecutive trading days.
Following the above transactions, the interests of directors in the ordinary shares is as follows:
Name |
Shares held |
Options |
Martyn Ratcliffe |
12,512,906 |
2,500,000 |
Brent Hudson |
65,000 |
1,500,000 |
Guy McCarthy |
70,621 |
307,078 |
David Courtley |
375,000 |
0 |
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