Corporate News
Director's share dealings
Armor Designs, Inc., ("ADI", or the Company"), the developer of next-generation composite armour, announces that as mentioned in the Company's December 2007 AIM Admission Document, Hawthorne & York International, Ltd. ("HYI"), principal shareholder in ADI, has gifted 3.4 million shares of its ADI shareholding, equal to 13% of the total shares outstanding in the Company, for distribution to a number of individuals who have primarily assisted HYI in the years prior to bringing ADI to market. HYI is owned and controlled by Dr James St Ville, the Chairman of the Board of Directors of ADI. The shares gifted have been transferred into an irrevocable trust controlled by an independent trustee that will be used to distribute awards to the recipients in tranches over the coming years. The gifted shares will be distributed to individuals via the irrevocable trust in the form of 450,000 shares, and, 2,950,000 share equivalents (non-qualified stock options and restricted stock units).
| Director | No. of Shares disposed of | No. of Shares received | Total Shareholding following the transactions | % Shareholding |
| Hawthorne & York International) | 3,400,000 | 18,875,000 | 71.0% | |
| Irrevocable Trust | 3,400,000 | 2,950,000 | 11.1% |
For further information please contact:
| Armor Designs, Inc. | |
| Charles Snyder, CEO | Tel: +1 602 275 4633 |
| charles.snyder@armordesigns.com | www.armordesigns.com |
| Zimmerman Adams International Limited | |
| Graeme Thom / Mira Shukanayeva | Tel: +44 20 7060 1760 |
| Alexander David Securities Limited | |
| David Scott / Nick Bealer | Tel: +44 20 7448 9820 |
Media enquiries:
| Brunswick Group LLP | |
| Michael Harrison/ Chris Blundell/ Camilla Gore | Tel: +44 20 7404 5959 |
Notes to editors
Armor Designs, Inc. ("ADI") is a knowledge-based company specialising in next-generation composite material design, manufacture, prototyping and testing for applications and products for the armour industry. ADI uses a proprietary design and manufacturing process called VCM to rapidly develop new composite armour products of superior ballistic, weight and flexibility. The VCM process is protected by patents and trade secrets licensed to ADI in perpetuity for use in field of armour.
The current total number of shares outstanding is 26,572,500.
For more information on Armor Designs, Inc., please go to www.armordesigns.com
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