Director Shareholding
23 Giugno 2010 - 8:00AM
UK Regulatory
TIDMIGR
RNS Number : 0705O
International Greetings PLC
23 June 2010
23rd June 2010
INTERNATIONAL GREETINGS PLC
Director/PDMR shareholding
International Greetings PLC ("International Greetings" or the "Company")
announces that it was informed on 21 June 2010 by Mr Paul Fineman, the Company's
chief executive, that on 21 June 2010 he exchanged an agreement (the "Sale
Agreement") to sell his beneficial holding of 2,188,534 ordinary shares (the
"Sale Shares") in the Company to a family trust of which he is a trustee and
beneficiary.
Completion of the Agreement will take place on the serving of written notice
requiring completion on the other party by either Mr Fineman or the Trustees.
The Agreement specifies that the latest date by which completion may take place
is 21 June 2020. The consideration payable by the Trust to Mr Fineman in
respect of the Sale Shares will be calculated by reference to the market value
of International Greetings ordinary shares at the date of completion.
Pending completion of the Sale Agreement, Mr Fineman will not receive any
consideration in respect of the Sale Shares, will remain entitled to exercise
voting rights in respect of the Sale Shares and will be entitled to retain any
dividends which International Greetings may declare in respect of the Sale
Shares. There has therefore been no change as result of the exchange of the
Sale Agreement in Mr Fineman's beneficial holding of 2,188,534 ordinary shares
in the Company.
Mr Fineman's non-beneficial holding of 1,025,708 ordinary shares in the Company
and his options over 2,265,000 ordinary shares in the Company do not form part
of the Sale Agreement and are unchanged.
+------------------------------------------+---------------------------+---------------------------+
| For further information, please contact: | | |
| | | |
+------------------------------------------+---------------------------+---------------------------+
| International Greetings PLC | | Tel: 01707 630630 |
| Paul Fineman, Chief Executive | | |
| Sheryl Tye, Finance Director | | |
| | | |
+------------------------------------------+---------------------------+---------------------------+
| Arden Partners plc | | Tel: 020 7614 5932 |
| Richard Day | | |
| Colin Smith | | |
| | | |
+------------------------------------------+---------------------------+---------------------------+
| Financial Dynamics | | Tel: 020 7831 3113 |
| Jonathon Brill | | |
| Caroline Stewart | | |
| | | |
+------------------------------------------+---------------------------+---------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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