First it was donor David Ross and three weeks later its treasurer Michael Spencer.
Does anyone else want to fess up?
Released on Tuesday:
The Board of Numis announces that it has received the following, formal notification from IPGL Limited (‘IPGL’). ‘
For the purposes of Rule 17 of the AIM Rules, we write to inform you that 13,102,934 Ordinary Shares of 5p each (‘Numis Shares’) in the capital of Numis Corporation plc (the ‘Company’) registered in the names of IPGL Limited and its wholly-owned subsidiary, INCAP Finance B.V. (‘INCAP’), respectively, are included in a package of assets charged pursuant to a loan facility agreement dated 6 October 2008 between IPGL, INCAP, certain other subsidiaries of IPGL and HSBC Bank Plc.
(‘HSBC’) The agreement with HSBC consolidated and replaced certain previous IPGL group facilities, with HSBC and other lenders, under one of which INCAP had, on 22 January 2008, granted security over a package of assets which included the majority of its Numis Shares. This security was released and replaced by the charges in favour of HSBC referred to above’.
IPGL is a private investment company in which Michael Spencer, his wife and family trusts own approximately 55% of the issued share capital. Accordingly, dealings by IPGL and INCAP in Numis securities are required to be notified under the AIM Rules. Having taken independent advice at the time these charges were entered into, IPGL and INCAP believed that the granting of security over Numis shares under normal corporate borrowing facilities did not amount to a dealing within the meaning of the AIM Rules.
In the wake of recent press reports on this issue in relation to other companies, IPGL sought further advice and concluded that notification should now be made. INCAP and IPGL remain the registered holders and beneficial owners of all of the Numis Shares referred to above (being 12,130,245 shares in the case of INCAP and 972,689 shares in the case of IPGL), and retain control of the voting rights attached to such shares. The Shares referred to above are Numis’ ordinary shares of 5p each and the total number of Shares in issue is 107,555,594 with each Share carrying the right to one vote. There are no Shares held in treasury. The total number of voting rights in Numis is 107,555,594.
Mr Spencer, who is best known as the chief executive of Icap, is chairman of Numis.
Update: It has been pointed out to us that Mr Spencer has officially disclosed lending agreements secured against his holding in Icap. Here’s one from July. And we also note that Numis is broker to numerous Aim-listed companies. All of which makes this tardy disclosure more puzzling.
Related links:
FSA inquiry as Ross exit rocks Carphone – FT.com
Ross says breach ‘unintentional’ – FT.com