Director/PDMR Shareholding
June 07 2006 - 1:16PM
UK Regulatory
RNS Number:2333E
Commoditrade Inc.
07 June 2006
7 June 2006
Commoditrade Inc
("Commoditrade" or the "Company")
Directors Dealings
Commoditrade announces that 4,800,000 ordinary shares in the Company ("Ordinary
Shares") have been placed today on behalf of Mr Chris Adams, Non-executive
Director at 16.75p per share, the net proceeds of which will be applied in full
to meet a tax liability which was crystallised on 24 April 2006 following the
acquisition by the Company of Tambelan's interest in its contract with Sucden
(UK) Limited (the "Acquisition").
Mr Adams was issued 12,000,000 ordinary shares on 24 April 2006 in conjunction
with the Acquisition, details of which were set out in the circular to
shareholders dated 6 April 2006, and the funds from today's placing will be
used to settle the tax liability on the issue of these shares. The lock-in
arrangements entered into by Mr Adams at the time of the Acquisition permitted
the sale of such number of shares as was necessary to meet the anticipated tax
liability.
The balance of the shares held by Mr Adams are subject to the lock-in
arrangements. Mr Adams now holds 7,200,000 ordinary shares amounting to 1.94
per cent of the Company's issued share capital.
Enquiries:
John Bick tel: 020 7451 9800
This information is provided by RNS
The company news service from the London Stock Exchange
END
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