Notifiable Interests following Placing to Institutions
ACM Shipping Group plc (AIM:ACMG), a leading international tanker broker, is pleased to announce that, on 7 January 2010, following a road-show with the Group's 2009 interim results, and as a result of good institutional demand, ordinary shares aggregating 10.49 per cent. of the total issued share capital of the Company were placed by the Group's founders and certain employees with a number of well recognised City institutions at £2.00 per share.
The changes to notifiable interests held by the ACM founders and certain employees are summarised below. Following this placing, none of these individuals retain notifiable interests in the Company.
| ACM founders and employees | Number of ordinary shares sold |
| Andrew Morton | 709,000 |
| Keith Amato | 350,000 |
| Simon Clough | 350,000 |
| Bruce Gyngell | 200,000 |
| Julian Kinross | 89,984 |
In addition, under this placing, other employees have placed 157,471 shares.
Through this placing, the ACM Shipping Limited Employee Trust acquired 500,000 ordinary shares of 1 pence each, equivalent to 2.83 per cent. of the Company's issued share capital.
Commenting on the placing of shares to institutions, Johnny Plumbe, Chief Executive of ACM Shipping Group plc, said: "ACM joined the AIM market three years ago and this placing follows the end of an initial lock-in period for our employees that was established at that time of the flotation. I am delighted that this process has been managed in an orderly manner, widening our institutional shareholder base whilst at the same time allowing those staff who have helped successfully build the business to receive some benefit for their hard work. The Board very much looks forward to working with our new institutional shareholders."
For further information, please contact:
ACM Shipping Group plc |
|
| Johnny Plumbe, Chief Executive Ian Hartley, Finance Director |
Tel: +44 (0) 20 7930 7555 |
| jplumbe@acmshipping.co.uk ihartley@acmshipping.co.uk |
www.acmshipping.com |
| Noble & Company Limited | |
| John Llewellyn-Lloyd |
Tel: +44 (0) 20 7763 2200 |
| www.noblegp.com | |
Media enquiries:
| Abchurch | |
| Henry Harrison-Topham / Joanne Shears henry.ht@abchurch-group.com |
Tel: +44 (0) 20 7398 7702 www.abchurch-group.com |
Notes to Editors
ACM is one of the world's principle tanker ship brokers and has established itself as the market leader in oil transportation. The Group's key activities are spot brokerage freight, time charter, project brokerage, sales and purchase, derivatives brokerage, research and consulting.
Established in London in 1982, the Group has since expanded its international operations with offices based in London, Singapore, India and China. ACM employs over 90 brokers and support staff who provide clients with global experience and intimate local knowledge of the world's shipping centres. The Group has a strong network of clients which include major oil producers, independent oil traders, ship-owners and operators. The business has been profitable every year since it was founded.
ACM was admitted to AIM on 6 December 2006. For more information on the Group please visit www.acmshippinggroup.com