Media Centre
Uecomm Statement in Relation to Share Sale by CEO
Uecomm Limited advises that it has been notified by the Chief Executive Officer, Mr Peter McGrath, that he has sold approximately 7% of his shareholding in Uecomm Limited. Although Uecomm is not legally obliged to provide this disclosure, it is doing so in the interests of good corporate governance.
Mr McGrath sold 335,000 shares on 23 July 2003, which represents approximately 7% of his total equity interest in Uecomm. The transaction occurred in the 30 day trading window provided for Directors and employees following the release of Uecomm’s 2003 half year results last week. The shares were originally purchased by Mr McGrath at the time he joined the company in mid 2001.
Mr McGrath retains a substantial equity interest in Uecomm consisting of 1,266,800 shares under the 2001 share loan plan, 1,000,000 vested options under the 2001 option plan and 1,500,000 options and 770,713 performance shares (“performance rights”) under the 2003 option and performance share plan which are subject to performance and time based hurdles.
