Director/PDMR shareholding
28 December 2007
XL TechGroup (AIM: XLT), the creator of companies that solve identified, global unmet market needs, has been advised that a number of Directors, as well as employees owning more than three per cent of the Company's issued shares, have donated shares for nil consideration to XL TechGroup Employees Charitable Fund, Inc. (the “Fund”), as follows:
| Name of Director / Employee | Number of shares donated | Beneficial holding following donation | Beneficial holding as % of issued share capital |
| John Scott (Director) |
50,000 | 6,362,361 | 12.32 |
| David Szostak (Director) |
50,000 | 2,082,179 | 4.03 |
| Harold Gubnitsky (Employee) |
75,000 | 2,052,179 | 3.98 |
| Ottmar Dippold (Employee) |
80,000 | 2,018,823 | 3.91 |
The Fund is a newly founded not-for-profit corporation which qualifies as a public charity under US tax laws and was created to encourage and support charitable giving and charitable activities by employees and directors of XL TechGroup and its related companies. In addition to contributions of stock or other property, XL TechGroup will enable automatic payroll donations for employees seeking to have automatic cash contributions made to the Fund. The proceeds from donations of cash or property will be distributed by the Fund to a range of qualified charities over time, with the disposal of any shares to be handled in a managed way based on advice from the Company's broker.
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