IDA Idatech

TIDMIDA

RNS Number : 0845E

IdaTech PLC

01 April 2011

For immediate release 1 April 2011

IdaTech PLC

Significant Share Transaction

IdaTech plc (the "Company") has been notified that on 31 March 2011, the IdaTech Employee Benefit Trust ("the Trust") acquired 10,465,000 ordinary shares of 1p each in the capital of the Company (the "Shares") from Investec Group Investments (UK) Limited ("Investec") for 50p each. The Trust now holds 14,386,867 ordinary shares representing approximately 27.5% of the issued share capital of the Company; this figure includes shares allocated to employees which are under performance restrictions. Investec now holds 25,704,887 shares or approximately 49.1% of the issued share capital of the Company.

The purchase has been funded by a loan from Investec to the Trust. The loan is repayable from the net proceeds (if any) arising from a sale of any Shares in future, to the extent that Shares are not allocated to employees under the Company's share schemes. Subject to the loan having been repaid and to certain other conditions being met at any time after 31 March 2013, Investec would be entitled to receive an additional 50% of the net proceeds of any sales of Shares. In all other respects the Trust retains unfettered rights over the Shares.

For further information please contact:

 
 IdaTech plc                      +1 541 383 3390 
 Harol Koyama, Chief Executive 
  Officer 
 James Cooke, Chief Financial 
  Officer 
 
 

Numis Securities Limited +44 (0) 20 7260 1000

NOMAD: Michael Meade / Hugh Jonathan

 
 Buchanan Communications            +44 (0) 20 7466 5000 
 Charles Ryland / George Prassas 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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