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Brightside Group PLC
("Brightside" or the "Company")
Change in Substantial Shareholdings and Director Dealings
The Company today announces that a substantial new shareholder Markerstudy/Zenith has acquired 42,646,125 ordinary shares of 1 pence each ("Ordinary Shares") representing 9.3 per cent. of the total issued share capital of the Company. This investment follows the announcement by Brightside of a new underwriting facility provided by Markerstudy to support the eCar product in October 2012.
Martyn Holman, CEO of Brightside, commented, "This investment strengthens the strong relationship between our companies and represents further industry support and recognition of our business model.
Of the Ordinary Shares acquired by Markerstudy 27,482,397 Ordinary Shares were acquired from Mr Arron Banks, a substantial shareholder in the Company, and 15,163,728 Ordinary Shares from Mr John Gannon, a director in the Company.
Following the above sale Mr Banks no longer has a notifiable interest in the Ordinary Shares of the Company.
Mr John Gannon has informed the Company he sold 15,163,728 Ordinary Shares to Markerstudy on 11 February 2012 (as set out above). Mr Gannon has also informed the Company he has sold a further 20,000,000 Ordinary Shares to institutional shareholders. The Ordinary Shares sold by Mr Gannon were sold at an average price of 22.4 pence per share. Following the sales, Mr Gannon is now interested in 2,000,000 Ordinary Shares, which represents 0.44 per cent. of the Company's issued Ordinary Share capital.
Finally, the Company has been informed that Mr Paul Chase-Gardener has been transferred 6,865,919 Ordinary Shares in the Company, by way of consideration for his shareholding in Rock Holdings Limited ("RHL"). The transfer price to Mr Chase-Gardener per Ordinary Share was 22 pence. Following the transfer Mr Chase-Gardener is now interested in 40,566,205 Ordinary Shares, which represents 8.89per cent. of the Company's issued Ordinary Share capital. Today Mr Chase-Gardener also resigned from all directorships of Rock Holdings group companies and is no longer interested in the share capital of any Rock Holdings group companies.
12 February 2013
Brightside Group plc
Martyn Holman / Paul Chase-Gardener +44 (0)1454 634194
Cenkos Securities plc (Nominated Advisor and Joint Corporate Broker)
Bobbie Hilliam / Callum Davidson +44 (0)20 7397 8900
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