Turbo Genset Inc.
TSX : TGN
LSE : TGN

Turbo Genset Inc.

June 09, 2006 02:00 ET

Turbo Genset Inc.: Issue of Equity and Directors Shareholdings

CALGARY, ALBERTA--(CCNMatthews - June 9, 2006) - Turbo Genset Inc.- (TSX:TGN) (LSE:TGN) The Company announces that, following the passing of the resolutions at yesterday's annual general and special meeting of shareholders, an aggregate of 442,668 common shares of no par value ("Common Shares") have been issued to executive management in lieu of cash bonuses.

The Common Shares represent 0.22 percent of the Company's issued share capital and were issued at a price of CD$0.28 (13.75p) per share, being the closing price of the Common Shares on 22 March 2006, the date of the announcement of the Company's annual results for the fiscal year 2005.

Michael Hunt, Director and CEO and Stephen Sadler, Director and CFO were each issued 110,667 Common Shares resulting in the following shareholdings for each:



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Director Shareholding % of issued capital
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Michael Hunt 110,667 0.058
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Stephen Sadler 110,667 0.058
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Application has been made to the UK Listing Authority and to the London Stock Exchange for the admission to the Official List and admission and dealings will become effective on 15 June 2006.

Contact Information

  • Turbo Genset Inc.
    Michael Hunt
    Chief Executive Officer
    +44 (0)20 8564 4460
    or
    Turbo Genset Inc.
    Stephen Sadler
    Chief Financial Officer
    +44 (0)20 8564 4460
    Website: www.turbogenset.com
    or
    Gavin Anderson (PR)
    Michael J Turner
    +44 (0)20 7554 1400