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DIRECTOR DEALINGS: Johnston Press Executives Buy Rights Shares

Mon, 16th Jun 2014 16:11

LONDON (Alliance News) - Johnston Press PLC Monday said a group of executives including Chairman Ian Russell and Chief Executive Ashley Highfield bought shares at a price of 3 pence per share as part of the publisher's recent rights issue.

Details are as follows.

Name

Number of nil paid rights disposed of (for tail swallowing)1

Ordinary shares acquired pursuant to rights issue

Total holding following rights issue

Total percentage of the issued share capital

Ian Russell

19,294,579

7,835,401

11,996,441

0.002%

Ashley Highfield

-

6,626,080

7,642,350

0.001%

Mark Pain

3,730,000

803,473

1,498,791

0.000%

Ralph Marshall

3,759,528

1,052,668

1,790,735

0.000%

Camilla Rhodes

2,555,895

511,178

981,588

0.000%

Kjell Aamot

2,236,709

2,114,008

2,781,296

0.001%

Stephen van Rooyen

-

307,444

354,598

0.000%

Peter McCall

649,163

129,833

387,362

0.000%

 1 Certain directors/PDMRs or their connected persons sold a proportion of their nil paid rights in order to finance the purchase of the remainder of their rights (tail swallowing).

Johnston Press had said Friday that it received 100% acceptances of its rights issue, which was announced on May 9 as part of a restructuring plan to pay down its debt and stabilise its finances.

It received acceptances for 92.25% of the 1-for-6.52 rights issue at 3 pence per share. Following this, the remaining 7.75% of acceptances were secured by underwriters Panmure Gordon and JP Morgan Cazenove for 3.5 pence each.

The publisher of regional newspapers raised GBP126.9 million before expense for the initial 92.5%. The remaining 7.75% raised GBP12.45 million, giving a total of GBP139.35 million.

Shares closed down 0.2% at 3.74p Monday.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

Copyright 2014 Alliance News Limited. All Rights Reserved.

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