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.
