QYM Quayle Munro

 

TIDMQYM 
 
RNS Number : 7399V 
Quayle Munro Holdings PLC 
05 November 2010 
 

          Quayle Munro Holdings plc ("Quayle Munro" or the "Company") 
 
                Issue of Shares and Joint Share Ownership Awards 
 
The Board announces that it has issued and allotted a total of 258,001 new 
ordinary shares of 10p each in the Company ("Ordinary Shares"). 
 
Of these Ordinary Shares: 
 
-    28,528 Ordinary Shares are being issued following the exercise of share 
options by certain employees; and 
 
-     229,473 Ordinary Shares are being issued to certain employees of  Quayle 
Munro pursuant to The Quayle Munro Holdings PLC Joint Share Ownership Plan ("the 
Plan").  The share awards under the Plan have been issued jointly to qualifying 
employees and to the trustee of The Quayle Munro Holdings PLC Employees' Share 
Trust ("the Trust") upon and subject to the terms of joint ownership agreements 
("JOAs") respectively entered into between the employee, the Company and RBC 
cees Trustee Limited as trustee of the Trust. 
 
The new Ordinary Shares rank pari passu in every respect with the existing 
issued Ordinary Shares in the Company. An application for admission of the 
Ordinary Shares to trading on AIM has been submitted and trading in the new 
ordinary shares is expected to commence on Monday 8th November 2010. 
 
Joint Share Ownership Plan Awards 
 
Of the 229,473 Ordinary Shares allotted and issued under the Plan, the following 
Directors of the Company will, following admission of the Ordinary Shares on 
Monday 8th November 2010, acquire a beneficial interest in jointly owned shares 
as follows: 
 
+------------+------------+--------------------+ 
| Name of    |   Interest |        Interest in | 
| Director   |  in Shares |      Jointly Owned | 
|            |            |    Shares (held by | 
|            |            |         the Trust) | 
+------------+------------+--------------------+ 
| AML Tuckey |     18,611 |             26,795 | 
+------------+------------+--------------------+ 
| AD Adams   |    178,228 |             53,591 | 
+------------+------------+--------------------+ 
| RD Cormie  |      5,111 |             38,006 | 
+------------+------------+--------------------+ 
 
 
Joint Share Ownership Plan 
 
The Plan was established by the Directors on 13 October 2010 and provides for 
the acquisition by employees, including Executive Directors, of beneficial 
interests as joint owners (with the Trust) of Ordinary Shares in the Company 
upon the terms of a JOA. The terms of the JOA provide, inter alia, that if 
jointly owned shares become vested and are sold, the proceeds of sale will be 
divided between the joint owners so that the Trust receives the initial market 
value of the jointly owned shares ("IMV") plus an amount representing interest 
on the IMV (the "carrying cost"), and the employee is entitled to the balance 
(if any). It is a further term of each JOA that the employee may, in certain 
circumstances, acquire the Trustee's interest in the jointly owned shares for a 
consideration equal to the amount of the accrued carrying cost. Jointly owned 
shares will vest if the employee remains employed within the Quayle Munro group 
of companies for specified minimum periods. 
 
The jointly owned shares have been issued jointly to the Directors named above 
and the Trust at a price of 812.5 pence per share, this being the closing price 
of a share in the Company on Friday 5th November 2010.  Of the aggregate 
subscription monies for the Directors' jointly owned shares, totalling 
GBP961,935, the Directors named above have paid the sums noted below, with the 
balance having been paid by the Trustee out of monies advanced on loan to the 
Trustee by the Company. 
 
+----------+----------+---------------+--------------+ 
| Name of  |  Jointly |         Total | Subscription | 
| Director |    Owned |  Subscription |  monies paid | 
|          |   Shares |    Monies (at |  by Director | 
|          |  Awarded |   812.5 pence |              | 
|          |          |    per share) |              | 
+----------+----------+---------------+--------------+ 
| AML      |   26,795 |GBP217,709.38  |   GBP2.68    | 
| Tuckey   |          |               |              | 
+----------+----------+---------------+--------------+ 
| AD Adams |   53,591 |GBP435,426.88  |   GBP5.36    | 
+----------+----------+---------------+--------------+ 
| RD       |   38,006 |GBP308,798.75  |   GBP3.80    | 
| Cormie   |          |               |              | 
+----------+----------+---------------+--------------+ 
 
 
Disclosure and Transparency Rules 
 
In accordance with the FSA's Disclosure and Transparency Rules, the Company's 
issued share capital following the admission of the Ordinary Shares will 
comprise 4,561,763 ordinary shares of 10p with voting rights.  The Company holds 
no shares in Treasury. 
 
The above 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 Company under the Disclosure 
and Transparency Rules. 
 
Enquiries: 
+------------------------------+------------------------------+ 
| Quayle Munro Holdings PLC:   | +44 (0) 131 226 4421         | 
+------------------------------+------------------------------+ 
| Andrew Walls, Company        |                              | 
| Secretary                    |                              | 
+------------------------------+------------------------------+ 
|                              |                              | 
+------------------------------+------------------------------+ 
| Brewin Dolphin (Nominated    |                              | 
| Advisor)                     |                              | 
+------------------------------+------------------------------+ 
| Sandy Fraser                 | +44 (0) 131 529 0272         | 
+------------------------------+------------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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