Tungsten Corporation PLC Director Shareholding and Issue of Equity (1966L)
January 07 2016 - 9:21AM
UK Regulatory
TIDMTUNG
RNS Number : 1966L
Tungsten Corporation PLC
07 January 2016
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
For Immediate Release
7 January 2016
Director's Shareholding and Issue of Equity
Tungsten has today issued and allotted 664,000 ordinary shares
of 0.438 pence each in the capital of the Company ("Ordinary
Shares") to Richard Hurwitz, the Company's Chief Executive Officer.
Mr Hurwitz was awarded the new Ordinary Shares pursuant to the
terms of his service agreement put in place following his
appointment as the Company's Chief Executive Officer in July 2015.
Mr Hurwitz's beneficial interest following this transaction is now
in 664,000 Ordinary Shares, representing 0.5% of the Company's
issued share capital.
The Company has also been informed that Nicholas Parker,
Chairman, has today purchased 100,000 Ordinary Shares into his SIPP
at a price of 39.75 pence per share. Mr Parker's resultant
beneficial interest is now in 221,250 Ordinary Shares, representing
0.2% of the Company's issued share capital.
Application will be made for the admission of 664,000 new
Ordinary Shares to trading on AIM. It is expected that admission
will become effective and dealings will commence in the new
Ordinary Shares on 13 January 2016.
On admission to trading of the 664,000 new Ordinary Shares, the
Company will have 126,068,397 Ordinary Shares in issue with voting
rights. This figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company under the FCA's Disclosure and Transparency
Rules.
For further information, please contact:
Enquiries:
Tungsten Corporation plc
Chaz Sarathchandra, Communications +44 20 7280
Manager 6983
Panmure Gordon (Nominated
Adviser) +44 20 7886
Fred Walsh / Dugald J. Carlean 2500
Canaccord Genuity Limited
(Broker)
Simon Bridges/Emma Gabriel/Cameron +44 20 7523
Duncan 8000
Neustria Partners (Investors
and Analysts)
Robert Bailhache/Nick Henderson/Charles +44 20 3021
Gorman 2580
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by
enabling customers to streamline invoice processing, improve
cash-flow management and make better buying decisions from their
detailed spend data.
Buyer organisations that join Tungsten Network, the world's
largest compliant electronic invoicing network, can reduce their
invoice-processing costs by 60%. Suppliers benefit from
efficiencies, greater visibility of their invoice status and peace
of mind. Tungsten offers options for supply chain financing and
helps buying organisations profit by applying real-time spend
analytics to its vast repository of line-level invoice data.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100
by connecting the world's largest companies and government agencies
to their thousands of suppliers around the globe. It enables
suppliers to submit tax compliant e-Invoices in 47 countries, and
last year processed transactions worth over $187bn for
organisations such as Alliance Data, Aviva, Cargill, Deutsche
Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's,
and the US Federal Government.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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