22 January 2010
Garner plc
("Garner" or the "Company")
Issue of equity
At the Company's board meeting held in December 2009, it was agreed that any
executive bonuses for 2009 would be settled by an issue of ordinary shares,
rather than in cash, based on net bonus figures, after taking into account
deductions for income tax and national insurance.
Accordingly, the directors of Garner have resolved to issue 4,116,104 new
ordinary shares ("Bonus Shares") to four employees, who are not directors of
the Company. At the closing mid-market price on 21 January 2010 (being the last
practicable date prior to the date of this announcement) of 1.88p per Garner
share, these shares have an aggregate value of £77,382.75 and represent 5.80
per cent of the existing issued ordinary share capital.
Application will be made for the Bonus Shares to be admitted to trading on AIM.
It is expected that admission will become effective and that dealings in the
Bonus Shares will commence on 28 January 2010. Following the admission of these
shares to trading on AIM, the Company will have a total of 75,138,312 ordinary
shares in issue.
Further Enquiries:
Garner plc Tel: 020 7629 8822
Andrew Garner/Ben Felton
Merchant John East Securities Limited Tel: 020 7628 2200
John East/Simon Clements
END
