ST MARK HOMES PLC - Offer Update PR Newswire


St Mark Contracts Offer Update and Issue of Equity

28 September 2016

Offer Update

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.

Issue of Equity and Directors Interests

As SMH had already acquired a relevant interest in more than 90% of the SMC shares it exercised 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.

The company is now therefore completing the acquisition of the entire share capital of SMC by issuing a further 47,500 new ordinary shares ranking pari passu with the existing ordinary shares.

Following this issue there are now 3,731,795 ordinary shares in issue. The aggregate direct interests of the Directors of St Mark and their spouses is 577,500 shares (15.5 % percent of the issued capital of the Company):

Bernard Tansey: 382,500 shares 10.26%

Barry Tansey: 82,750 shares 2.22%

Sean Ryan: 101,250 shares 2.72%

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 167,285 shares (4.44% of the issued share capital).

The Directors of St Mark Homes PLC accept responsibility for this announcement