LONDON (Alliance News) - Red24 PLC Wednesday said it has issued 500,000 new shares in the company after Chief Executive Maldwyn Worsley-Tonks exercised share options.
Red24 said the shares were exercised at a price of 8.0 pence each.
Red24 shares were trading down 1.2% to 19.51 pence per share on Wednesday afternoon.
The crisis assistance company said Worsley-Tonks subsequently sold the 500,000 shares to Sidebell Ltd, a company in which Simon Richards, the chairman of the company is a director and shareholder.
That means Worsley-Tonks' stake in the company remains unchanged at 1.95%, whilst the stake held by Richards has increased to 29.34% through his beneficial interest in 14.5 million shares.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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