RNS Number : 5411I
Advanced Computer Software PLC
15 March 2010
ADVANCED COMPUTER SOFTWARE PLC
Director's dealing
Advanced Computer Software Plc (AIM: ASW, "Advanced", "ACS" or "the Company"), a leading provider of software and IT services to the primary care sector, announces that on 10 March 2010 it received notice of the following Director's dealing in its shares.
Further to the announcement on 23 July 2008, when the Company advised that it had established an Employee Benefit Trust ("EBT") in order to grant free share awards in due course to certain directors in respect of 19,537,816 of its ordinary shares, such shares to be issued to the EBT on completion of the reverse takeover of Adastra Software Limited ("Adastra"); and the announcement on 29 August 2008, which confirmed that completion of the reverse takeover of Adastra had taken place; the Company now advises that it has received notification from the Trustee of the EBT ("Trustee") as follows:
On 4 March 2010 the Trustee awarded a growth interest above a share price hurdle of 48.3p in respect of 17,761,651 existing Ordinary Shares to Vinodka Murria, CEO of ACS. Following the issue of the growth interest Vinodka Murria's beneficial holding including the shares over which she holds a growth interest is as shown below.
On 10 March 2010 the Trustee also awarded 1,776,165 existing Ordinary Shares to Michael Jackson, Chairman of ACS, subject to the sale of sufficient Ordinary Shares to settle all tax due on the award. Following the sale of 728,228 Ordinary Shares on 10 March 2010 at a price of 0.39 pence per share to settle the tax due on the award and the transfer to Michael Jackson of the remaining 1,047,937 Ordinary Shares, Michael Jackson's beneficial holding in the Company's ordinary shares is as shown below.
Name Ordinary Shares Ordinary Shares Ordinary Shares held Percentage of issued
prior to the award awarded following the ordinary share
transaction(s) capital held
following the
transaction(s)
Michael Jackson 1,470,588 1,776,165 2,518,525 0.71%
Vinodka Murria 18,289,216 17,761,651 36,050,867 10.16%
Enquiries:
Advanced Computer Software Plc +44 (0) 20 7831 5088
Vin Murria, Chief Executive Officer
Barbara Firth, Chief Financial Officer
College Hill +44 (0) 20 7457 2815
Adrian Duffield/Carl Franklin
Seymour Pierce Limited +44 (0) 20 7 107 8000
Mark Percy/Christopher Wren
Note to Editors
Advanced Computer Software Plc (AIM: ASW, "Advanced", or "the Company") is a leading provider of software and IT services to the primary care sector. Through its subsidiary Adastra, Advanced services more than 95% of Out-of-Hours ("OoH") operational hubs and 50% of NHS walk-in clinics in England. Adastra's software interoperates with more than 100 other IT systems serving both the primary care and the acute parts of the NHS. A secondary product automates the flow of information between the National Nurse Helpline Services (NHS Direct, NHS24 and NHS Wales) and the operational hubs of the Primary Care Trusts ("PCTs"). Adastra's software is licensed to more than 5,000 seats and transacts 14 million patient episodes every year.
Advanced occupies a strategically important niche in the IT framework of the NHS, from which it intends to expand through a strategy of product innovation, selective acquisitions and/or technical collaborations, thus consolidating a fragmented market. By broadening its products and services, the Advanced Group aims to improve the flow of patient information throughout primary care using, where possible, a single view of the patient record. At the same time, the Advanced Group's strategy is designed to maximise opportunities for cost savings, shared R&D and cross-selling, whilst aligning with recent changes in NHS IT procurement that increase the purchasing power of the primary care segment.
This information is provided by RNS
The company news service from the London Stock Exchange
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