Alfredo Villa, chief executive officer of Brainspark, has acquired 2,100,000 ordinary shares for a cash consideration of £2.6m or 125p per share.
"Mr Alfredo Villa has also agreed to convert his entitlement under his 2009 and 2010 salary, into new ordinary shares at a conversion rate of 70p per ordinary share", the statement said. The total amounts due to Villa are £18,750 for 2009 and £150,000 for 2010.
Villa has agreed to subscribe for 241,071 new ordinary shares in lieu of salary.
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Brainspark is an investment company with a primary portfolio in Italy encompassing interactive media, leisure, entertainment and financial services.
As well as being the CEO of Brainspark, Villa is an independent consultant and private investor in several venture capital companies. He is also a director of Nasdaq-listed Moggle, and founder and director of charity Homes for Hope, which has a 9.2% interest in Brainspark.
Following the acquisition of all shares above, Villa will have a beneficial interest in 5,111,039 ordinary shares, equal to 38.2% of Brainspark's issued share capital.
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