PartyGaming Plc. Stock Announcement - (June 7th)

by mitchell posted Jun 7th 2006 at 14:00PM

http://digg.com/submit?phase=2&url=http://www.pokeraffiliateworld.com/news/partygaming-plc-stock-announcement---june-7th&title=PartyGaming Plc. Stock Announcement - (June 7th)

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.

Founder Shareholder

Number of Shares Sold

Percentage of Total Issued Share Capital Sold

Resultant Number of Shares Held

Percentage of Total Issued Share Capital Held

Crystal Ventures Limited (1)

56,666,667

1.42%

1,158,085,333

28.95%

Cheam Directors Limited (2)

33,333,333

0.83%

594,986,667

14.87%

Cheam Directors Limited (3)

33,333,333

0.83%

594,986,667

14.87%

Coral Ventures Limited (4)

66,666,667

1.67%

278,293,333

6.96%

(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:

PartyGaming Plc	+44 (0)20 7337 0100
Peter Reynolds, Director of Investor Relations
John Shepherd, Director of Corporate Communications
Financial Dynamics	+44 (0)20 7831 3113
Edward Bridges / Juliet Clarke