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Company Earthport PLC
TIDM EPO
Headline

Issue of Equity

Released 09:10 28-Jan-2013
Number 4754W09

RNS Number : 4754W
Earthport PLC
28 January 2013
 

28 January 2013

 

Earthport plc ("Earthport" or the "Company)

 

Issue of Equity

 

 

 

The Board of Earthport plc, the global cross-border payments provider (AIM:EPO) announces that pursuant to its adoption  of a new Long Term Incentive Plan ("LTIP") under which participants may be granted nil cost options or restricted stock units ("RSU") sourced using new issue shares, the Board has made awards over a total of 7,809,000 ordinary shares of 10 pence each on January 25th, 2013.

 

Included in the above total, awards were made to the following executive directors:

 

Name                            No of shares                              Type of Award                           

Paul Thomas                 1,250,000                                  nil cost

Chris Cowlard                1,250,000                                  nil cost

 

The above awards to the directors have vesting and exercise conditions based on the Company achieving certain targets including positive operating cash flow, a specified level of operating profitability and a minimum share price of 30p.

 

In addition, an application will be made to the London Stock Exchange for 5 million new ordinary shares of 10 pence each to be admitted to trading on AIM. These shares were issued to the trustees of Earthport's employee share ownership plan in connection with the previously announced Joint Share Ownership Plan awards on 12 January 2012. It is expected that Admission will become effective on 31 January 2013. The new ordinary shares will rank pari passu in all respects with the existing ordinary shares of the Company.

 

Following the above admission, the Company's enlarged issued share capital will comprise 347,792,433 ordinary shares with one voting right per share. There are no shares held in treasury and the total number of voting rights in the Company is therefore 347,792,433.

 

The figure of 347,792,433 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

 

 

 

 

For further information, please contact:

 

Earthport plc

Hank Uberoi / Phil Hickman

 

020 7220 9700

Panmure Gordon

Katherine Roe / Victoria Boxall

 

020 7886 2500

Charles Stanley Securities

Mark Taylor / Paul Brotherhood

 

020 7149 6000

Newgate Threadneedle

Caroline Evans-Jones/ Josh Royston/ Fiona Conroy

020 7653 9850

 

 

 

 

 

About Earthport

 Earthport plc, a regulated global financial services organisation, specialises in the provision of a white label cross-border payments service.

 

Through its innovative payments framework, specifically designed for high volumes of low value cross-border payments, Earthport provides a cost-effective and transparent service for secure international payments. Earthport's customers include banks, foreign exchange businesses, money transfer organisations, payment aggregators and e-commerce businesses.  Through Earthport's well established payments infrastructure, customers can clear and settle payments directly to banked beneficiaries in over 50 countries.

 

The company is headquartered in London and is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. It operates globally with additional regional offices in Dubai and New York. Earthport plc is authorised and regulated by the Financial Services Authority under the Payment Service Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us on Twitter @Earthport


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Issue of Equity - RNS