Following the Company’s recent Placing, HCEG announces that Gron Ffoulkes-Davies, who became an employee of the Company on 1 December 2006 and is a Person Discharging Managerial Responsibility, acquired 1 million ordinary shares of 2.5p each at a price of 3 pence per share. Following this transaction Mr Ffoulkes-Davies’ beneficial holding in the Company is 1 million shares, representing 0.36% of the issued share capital of the Company.

 

In line with all shareholders in the Placing, each subscription for 4 Placing Shares includes the issue of 1 warrant. Consequently, Mr Ffoulkes-Davies has been awarded 250,000 warrants to subscribe for Ordinary Shares at an Exercise Price of 6p per share.