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 PartyGaming Plc. Stock Announcement - (June 7th)
PartyGaming Executives decided today to sell off some of their shares in PRTY.L
7 June 2006
PartyGaming Plc (The “Company”)
Notification of Major Interests in Shares
Following the placing of 200,000,000 ordinary shares of 0.0015 pence each in the Company (“Shares”) by Dresdner Kleinwort Wasserstein Securities Limited (“DrKW”), the Company was informed on 7 June 2006 that the following founder shareholders with notifiable interests each sold a beneficial interest in the number of Shares indicated below at a price of 116 pence per Share on 7 June 2006.
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Founder Shareholder
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Number of Shares Sold
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Percentage of Total Issued Share Capital Sold
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Resultant Number of Shares Held
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Percentage of Total Issued Share Capital Held
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Crystal Ventures Limited (1)
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56,666,667
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1.42%
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1,158,085,333
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28.95%
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Cheam Directors Limited (2)
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33,333,333
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0.83%
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594,986,667
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14.87%
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Cheam Directors Limited (3)
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33,333,333
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0.83%
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594,986,667
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14.87%
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Coral Ventures Limited (4)
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66,666,667
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1.67%
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278,293,333
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6.96%
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(1) A company owned indirectly by Anurag Dikshit, founder and former Group Operations Director; now the Company’s Head of Research and Special Project.
(2) Cheam Directors Limited holds Shares on bare trust for Stinson Ridge Limited, a company wholly owned by Russell DeLeon, founder.
(3) Cheam Directors Limited holds Shares on bare trust for Emerald Bay Limited, a company wholly owned by Ruth Parasol, founder.
(4) A company owned indirectly by Vikrant Bhargava, founder and the Company’s Group Marketing Director.
Following the placing, these founder shareholders continue to hold, in aggregate, approximately 65.7% of the Company’s issued share capital. In addition, the Company has been informed that they have agreed to extend their existing lock-up which expires on 30 June 2006; they have undertaken not to dispose of any further shares prior to the date of publication of the Company’s interim results (expected on 5 September 2006) and not to dispose of any further shares, without the prior consent of DrKW, from the publication of the Company’s interim results until 31 December 2006, other than, inter alia, in accepting a takeover bid for the Company or to connected persons who are themselves locked-up.
The Company’s free float has consequently increased from 23.1% to 28.1% of the Company’s issued share capital.
The Group’s second quarter key performance indicators will be announced on 21 July 2006.
Contacts:
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PartyGaming Plc
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+44 (0)20 7337 0100
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Peter Reynolds, Director of Investor Relations
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John Shepherd, Director of Corporate Communications
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Financial Dynamics
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+44 (0)20 7831 3113
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Edward Bridges / Juliet Clarke
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Nov 05, 2007
