The Directors of VANE were notified on 4 October 2011 that on 4 October Mr Matthew Idiens has purchased 500,000 of the Company's ordinary shares ("Ordinary Shares") at an average price of 0.84p each. Following this transaction, Mr Idiens has an indirect beneficial interest in 14,805,880 shares representing 4.53% of the Company's issued share capital.
As at the date of this announcement, the Company's issued share capital consists of 326,923,658 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury.
On 29 September 2011, the Company announced that it was issuing a further 116,000,000 new Ordinary Shares pursuant to a placing, conditional on shareholder approval and admission of these new Ordinary Shares to trading on AIM ("Admission"). On Admission, the Company's issued share capital will consist of 442,923,658 Ordinary Shares and Mr Idiens shareholding will represent 3.34% of the Company's issued share capital as enlarged by the Placing.