ST MARK HOMES PLC
St Mark Contracts Offer Update and Issue of Equity
11 August 2016
On 17 June 2016 the Boards of St Mark Contracts Ltd (SMC)and St Mark Homes PLC (SMH) announced the terms of a recommended all share offer for the entire issued share capital of SMC. The terms and conditions of that offer were set out in an Offer Document dated 17 June 2016.
SMH announces that as at 1.00 p.m. on 10 August 2016 (being the closing date for the Offer), valid acceptances under the Offer had been received in respect of 726,800 SMC Shares, representing 93.97 per cent of the issued share capital of SMC.
As SMH has already acquired a relevant interest in more than 90% of the SMC shares it intends to exercise its right to acquire any remaining shares at 11 August 2016 under the compulsory acquisition provisions of the Companies Act on the same terms as under the Offer.
Issue of Equity and Directors Interests
Further to the receipt of valid acceptances the Company has issued 726,800 new ordinary shares to SMC Shareholders. The new ordinary shares rank pari passu with the existing ordinary shares.
Following this issue there are now 3,684,379 ordinary shares in issue. The aggregate direct interests of the Directors of St Mark and their spouses is 577,500 shares (15.68% percent of the issued capital of the Company) :
Bernard Tansey: 382,500 shares 10.38%
Barry Tansey: 82,750 shares 2.25%
Sean Ryan: 101,250 shares 2.75%
William Gair: 11,000 shares 0.30%
In addition members of the family of the Chairman, Bernard Tansey, and Chief Executive Officer, Barry Tansey own an additional 151,035 shares (4.1% of the issued share capital). Barry and Bernard Tansey are also Directors of St Mark Properties Ltd an owner of 194,000 shares in the company (5.27%).
The Directors of St Mark Homes PLC accept responsibility for this announcement.