Innovative Software Direct plc
LSE : ISDP

July 06, 2011 11:18 ET

Holdings in company

6 July 2011


                                  INNOVATIVE SOFTWARE DIRECT PLC
                                                 
                                     (the "Company" or "ISD")
                                                 
                                                 
                                        Holdings in Company
                                                 

The Directors of Innovative Software Direct plc announce that the Company has reached a settlement
agreement  with  Mr Barry Hersh to issue 1,500,000 ordinary shares of 1p each in relation  to  his
resignation as director. Of these shares, 375,000 ordinary shares of 1p each are held  as  Trustee
for Mrs N Isaacs and 375,000 ordinary shares of 1p each are held as Trustee for Mrs R Doffman.

These  holdings  relate  to  legal and beneficial holdings of Mrs  N   Isaacs  and  her  connected
companies and Mrs R Doffman and her connected companies of 6,189,999 (24.3%) and 2,707,500 (10.6%)
ordinary shares, respectively.

On  20  June  2011  Mr A Kitchen converted 38,800GBP of loan notes at a price  of  2p  per  share,
resulting  in  the issue of 1,940,000 ordinary shares of 1p each. As a result of  this  loan  note
conversion,  Mr  A  Kitchen's holding in the Company has increased to 2,740,000  (10.8%)  ordinary
shares.

Total shares in issue are 25,442,946 ordinary shares of 1p each.

The Directors of the Company accept responsibility for this announcement.



                                            ---ENDS---

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  • Innovative Software Direct plc