TIDMMLVN
RNS Number : 7512V
Malvern International PLC
01 February 2017
1 February 2017
MALVERN INTERNATIONAL PLC
("Malvern" or the "Company")
Issue of Equity
Director / PDMR Shareholding
Malvern International plc (AIM: MLVN), the provider of
educational services in the UK, Europe and Asia, is pleased to
announce that it has agreed with KSP Investments Pte Limited
("KSP") that a further GBP38,000 of its loan to the Company will be
converted into 760,000 new ordinary shares at a conversion price of
5 pence per share. (the "Loan Conversion"). The balance of the loan
outstanding is now GBP997,522.
The Company is also pleased to announce that CG Corp, (a
Cinnovation group company) has subscribed for 1,600,000 new
ordinary shares at a price of 5 pence per share raising GBP80,000
(the "Share Subscription"). The proceeds of the Share Subscription
will provide additional funds and facilitate the continued
development of certain new initiatives as outlined in the strategic
plan announced on 19 December 2016.
Furthermore, the Company has agreed to issue an aggregate of
2,520,000 new ordinary shares at a value of 5p per share to certain
directors in lieu of salary/fees (the Directors' Conversion") as
set out below:
Name Amount of salary/fees New Ordinary Shares
arising from Directors'
Conversions
------------------- ----------------------- -------------------------
Haider Sithawalla GBP45,000 900,000
------------------- ----------------------- -------------------------
Gopinath Pillai GBP20,000 400,000
------------------- ----------------------- -------------------------
Sabin Joshi GBP20,000 400,000
------------------- ----------------------- -------------------------
Ramasamy Jayapal GBP41,000 820,000
------------------- ----------------------- -------------------------
Application has been made for the 4,880,000 new Ordinary Shares
arising pursuant to the Loan Conversion, Share Subscription and
Directors' Conversion (the "New Ordinary Shares") to be admitted to
trading on AIM ("Admission"). Dealings are expected to commence on
7 February 2017.
Following Admission of the New Ordinary Shares the shareholdings
of KSP and CG Corp and their respective connected parties will be
as follows:
Name Shareholding Percentage Shareholding Percentage
immediately of share capital immediately of share
before Admission before Admission following Admission capital immediately
following
Admission
KSP Investments
Pte Limited
and connected
parties(1) 27,591,117 29.24 29,651,117 29.90
CG Corp and
connected
parties(2) 27,591,122 29.27 29,591,122 29.84
(1) includes shares held by directors, Haider Sithawalla and
Gopinath Pillai
(2) includes shares held by Sabin Joshi
In accordance with the provisions of the Disclosure and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following these transactions, its issued share
capital will comprise 99,157,983 Ordinary Shares of 5p each. All of
the Ordinary Shares have equal voting rights and none of the
Ordinary Shares are held in Treasury. The total number of voting
rights in the Company is therefore 99,157,983. 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 share capital of
the Company under the Disclosure and Transparency Rules
Following the issue of the New Ordinary Shares, Haider
Sithawalla is interested (directly or indirectly) in a total of
919,000 Ordinary Shares representing approximately 0.93 per cent.
of the Company's issued share capital.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -------------------------------------------------------------------------------------------------------
a) Name Haider Sithawalla
--- ------------------------------------------------------------ -----------------------------------------
2 Reason for the notification
--- -------------------------------------------------------------------------------------------------------
a) Position/status Director
--- ------------------------------------------------------------ -----------------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------------ -----------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------------------------------------------
a) Name Malvern International plc
--- ------------------------------------------------------------ -----------------------------------------
b) LEI N/A
--- ------------------------------------------------------------ -----------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of 5p each
Identification code
GB00B04XB679
--- ------------------------------------------------------------ -----------------------------------------
b) Nature of the transaction Receipt of shares in lieu of salary/fees
--- ------------------------------------------------------------ -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
5p 900,000
--------- ----------
--- ------------------------------------------------------------ -----------------------------------------
d) Aggregated information
* Aggregated volume 900,000
GBP45,000
* Price
--- ------------------------------------------------------------ -----------------------------------------
e) Date of the transaction 31 January 2017
--- ------------------------------------------------------------ -----------------------------------------
f) Place of the transaction N/A
--- ------------------------------------------------------------ -----------------------------------------
Following the issue of the New Ordinary Shares, Gopinath Pillai
is interested (directly or indirectly) in in a total of 425,000
Ordinary Shares representing approximately 0.43 per cent. of the
Company's issued share capital.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -------------------------------------------------------------------------------------------------------
a) Name Gopinath Pillai
--- ------------------------------------------------------------ -----------------------------------------
2 Reason for the notification
--- -------------------------------------------------------------------------------------------------------
a) Position/status Director
--- ------------------------------------------------------------ -----------------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------------ -----------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------------------------------------------
a) Name Malvern International plc
--- ------------------------------------------------------------ -----------------------------------------
b) LEI N/A
--- ------------------------------------------------------------ -----------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of 5p each
Identification code
GB00B04XB679
--- ------------------------------------------------------------ -----------------------------------------
b) Nature of the transaction Receipt of shares in lieu of salary/fees
--- ------------------------------------------------------------ -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
5p 400,000
--------- ----------
--- ------------------------------------------------------------ -----------------------------------------
d) Aggregated information
* Aggregated volume 400,000
GBP20,000
* Price
--- ------------------------------------------------------------ -----------------------------------------
e) Date of the transaction 316 January 2017
--- ------------------------------------------------------------ -----------------------------------------
f) Place of the transaction N/A
--- ------------------------------------------------------------ -----------------------------------------
Following the issue of the New Ordinary Shares, Sabin Joshi is
interested in a total of 400,000 Ordinary Shares representing
approximately 0.40 per cent. of the Company's issued share
capital.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -------------------------------------------------------------------------------------------------------
a) Name Sabin Joshi
--- ------------------------------------------------------------ -----------------------------------------
2 Reason for the notification
--- -------------------------------------------------------------------------------------------------------
a) Position/status Director
--- ------------------------------------------------------------ -----------------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------------ -----------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------------------------------------------
a) Name Malvern International plc
--- ------------------------------------------------------------ -----------------------------------------
b) LEI N/A
--- ------------------------------------------------------------ -----------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of 5p each
Identification code
GB00B04XB679
--- ------------------------------------------------------------ -----------------------------------------
b) Nature of the transaction Receipt of shares in lieu of salary/fees
--- ------------------------------------------------------------ -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
5p 400,000
--------- ----------
--- ------------------------------------------------------------ -----------------------------------------
d) Aggregated information
* Aggregated volume 400,000
GBP20,000
* Price
--- ------------------------------------------------------------ -----------------------------------------
e) Date of the transaction 31 January 2017
--- ------------------------------------------------------------ -----------------------------------------
f) Place of the transaction N/A
--- ------------------------------------------------------------ -----------------------------------------
Following the issue of the New Ordinary Shares, Ramasamy Jayapal
is interested in a total of 1,453,131 Ordinary Shares representing
approximately 1.47 per cent. of the Company's issued share
capital.
1 Details of the person discharging managerial responsibilities/person closely associated
--- -------------------------------------------------------------------------------------------------------
a) Name Ramasamy Jayapal
--- ------------------------------------------------------------ -----------------------------------------
2 Reason for the notification
--- -------------------------------------------------------------------------------------------------------
a) Position/status Director
--- ------------------------------------------------------------ -----------------------------------------
b) Initial notification/ Amendment Initial Notification
--- ------------------------------------------------------------ -----------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------------------------------------------
a) Name Malvern International plc
--- ------------------------------------------------------------ -----------------------------------------
b) LEI N/A
--- ------------------------------------------------------------ -----------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--- -------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary shares of 5p each
Identification code
GB00B04XB679
--- ------------------------------------------------------------ -----------------------------------------
b) Nature of the transaction Receipt of shares in lieu of salary/fees
--- ------------------------------------------------------------ -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
5p 820,000
--------- ----------
--- ------------------------------------------------------------ -----------------------------------------
d) Aggregated information
* Aggregated volume 820,000
GBP41,000
* Price
--- ------------------------------------------------------------ -----------------------------------------
e) Date of the transaction 31 January 2017
--- ------------------------------------------------------------ -----------------------------------------
f) Place of the transaction N/A
--- ------------------------------------------------------------ -----------------------------------------
ENDS
Contacts:
Malvern International plc www.malverninternational.com
Haider Sithawalla +65 64120733
Dr Sam Malafeh +65 83860155
WH Ireland Limited Nominated Adviser & Broker
Mike Coe, Ed Allsopp +44 (0) 117 945 3470
.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 01, 2017 06:06 ET (11:06 GMT)