AINC Applied Intel.

 

TIDMAINC 
 
RNS Number : 1788M 
Applied Intellectual Capital Ltd 
23 January 2009 
 
23rd January 2009 
 
 
APPLIED INTELLECTUAL CAPITAL LIMITED 
Issue of Equity 
The Board of Directors of Applied Intellectual Capital Limited ("AIC") announces 
that it has today issued 2,351,256 ordinary shares of no par value, pursuant to 
the Applied Intellectual Capital Limited 2008 Stock Plan ("the Stock Plan"), a 
share-based incentivisation arrangement for certain directors and staff of the 
AIC group of companies. 
 
 
The 2,351,256 ordinary shares, which were issued at a price of at 2.25p per 
share (being the closing mid market price on 21st January 2009), represent 5.0% 
of the enlarged issued share capital of 47,341,371 ordinary shares. 
 
 
The Stock Plan was originally approved by the shareholders of Applied 
Intellectual Capital (the main operating company of the group, as incorporated 
in Nevada) on 21 November 2006 and was novated to Applied Intellectual Capital 
Limited (as incorporated in Jersey) on 12th March 2008 when the shares of 
Applied Intellectual Capital Limited were admitted to AIM, and as part of the 
AIC merger and restructuring (as approved by shareholders on 3rd March 2008). 
 
 
As part of this renewed incentivisation, options previously granted under the 
Stock Plan aggregating 2,718,583 shares have been cancelled. The exercise prices 
of these options ranged from 95p to 250p per share. 
 
 
The Directors consider that these new arrangements are appropriate to 
incentivise and retain staff. The previous option arrangements were no longer 
serving this purpose because they were set at prices which are now significantly 
higher than the present trading price. In view of AIC's working capital 
position, the Board considers this new arrangement to be sensible as a way of 
keeping and encouraging staff in a way which is aligned with shareholder 
interests. 
 
 
Included within this issuance are 420,000 shares issued to Robert Stoffregen, an 
executive Director in return for the cancellation of his 711,200 options. 
None of the three founder directors have participated in this Stock Plan, and 
therefore they will not be beneficiaries of this incentivisation. Further, none 
of the three non-executive directors are receiving shares under this 
incentivisation arrangement. 
These ordinary shares will rank pari passu with the existing ordinary shares in 
AIC.  Application has been made for these ordinary shares to be admitted to 
trading on AIM. Trading of these ordinary shares on AIM is expected to commence 
on Thursday 29th January 2009. 
  It has been proposed to shareholders that the admission to trading on AIM of 
shares in AIC be cancelled, by a circular from the directors dated 19th January 
2009 and calling the AGM.  If the relevant resolution is passed, the AIC shares 
which are the subject of this issue will become delisted at the same time as the 
existing AIC shares. 
 
 
ENQUIRIES: 
Applied Intellectual Capital: Robert Stoffregen Tel. +1 510 239 0025 
Ambrian Partners: Marc Cramsie Tel. +44 (0)20 7634 4858 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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