Orchid Developments (OCH)
ORCHID DEVELOPMENTS | Issue Of Equity And Directors Dealings | RNS
16 February 2012
Orchid Developments Group Ltd (the "Company")
Issue of Equity and Directors Dealings
Bellport Corporation, a company in which the Company's joint Chief Executives, Ofer Miretzky and Guy Meyohas are interested, has been allotted (conditional only on admission of such shares to trading on the AIM Market of the London Stock Exchange ("AIM")) 5,500,000 ordinary shares of €0.01 each in the capital of the Company ("Ordinary Shares") in relation to the amendments to the Management Services Agreement with Bellport Corporation approved by the Company's shareholders at the EGM held on 15 February 2012 (the "Capitalisation Shares"). As a result, Ofer Miretzky and Guy Meyohas, are now each directly or beneficially interested in 28,162,688 Ordinary Shares, representing approximately 29.97 per cent of the total shares in issue upon the issue of the Capitalisation Shares.
The Capitalisation Shares will rank pari passu in all respects with the Company's existing Ordinary Shares, including the right to receive all dividends and other distributions hereafter declared, made or paid.
Application has been made for the Capitalisation Shares to be admitted to trading on AIM. It is expected that dealings in the Capitalisation Shares will commence on AIM on 21 February 2012. Following the admission of the Capitalisation Shares, the issued share capital of the Company will increase by 6.22 per cent. to 93,966,260 Ordinary Shares. 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.
+35 92 981 9955
Shore Capital and Corporate Limited
+44 20 7408 4090
Reg Hoare / Tim McCall / Vicky Watkins
+44 20 3128 8100
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