Empyrean Energy PLC Exercise of Options (8922U)
October 21 2014 - 8:45AM
UK Regulatory
TIDMEME
RNS Number : 8922U
Empyrean Energy PLC
21 October 2014
Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil &
Gas
21 October 2014
Empyrean Energy plc
Exercise of Options
Empyrean announces that it has today issued 100,000 ordinary
shares of 0.2 pence each ("Ordinary Shares") following the exercise
of options (by an individual who is not a director or officer of
the Company). Application will be made for the new Ordinary Shares
to be admitted to trading on AIM. Admission is expected to take
place on 27 October 2014. The shares will rank pari passu with the
existing Ordinary Shares.
Following the transaction, and in accordance with Rule 2.10 of
the City Code on Takeovers and Mergers (the "Code"), the Company
confirms that has 221,533,853 Ordinary Shares in issue, each with
voting rights. This figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, securities of the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules and under Rule 8.3 of
the Code. The International Securities Identification Number for
the Ordinary Shares is GB00B09G2351.
**ENDS**
For further information please visit www.empyreanenergy.com or
contact the following:
Tom Kelly Empyrean Energy plc Tel: +618 9481 0389
Neil McDonald Cenkos Securities Tel: +44 (0) 131 220 9771 / +44
Plc (0) 207 397 1953
Beth McKiernan Cenkos Securities Tel: +44 (0) 131 220 9778 / +44
Plc (0) 207 397 1950
Hugo De Salis St Brides Media & Tel: +44 (0) 20 7236 1177
Finance Ltd
Elisabeth Cowell St Brides Media & Tel: +44 (0) 20 7236 1177
Finance Ltd
Lottie Brocklehurst St Brides Media & Tel: +44 (0) 20 7236 1177
Finance Ltd
Notes to Editors:
Empyrean Energy Plc is an AIM listed (Ticker: EME) profitable US
on-shore oil and gas development and production company focussed
primarily on the advancement of its assets in Texas and California.
The Company's portfolio represents a mix of assets at various
stages of development. Its flagship project is the Sugarloaf AMI in
the prolific Eagle Ford Shale, Texas, where it has a 3% working
interest in approximately 24,000 gross acres centrally positioned
in the liquids rich sweet-spot within the field. Empyrean has an
interest in 154 gross producing wells with full development
expected to reach over 400 wells and further upside potential from
the Austin Chalk development that may be in the order of a further
300 wells. The Company has term debt facility of up to US$50
million with Macquarie Bank in place in order to develop this
acreage which is operated by US major Marathon Oil Company.
Other assets include a 57.2% interest in the Eagle Oil Pool
Development Project located in the San Joaquin Basin, southern
California, a proven oil and gas province. Empyrean's large working
interest in this project provides the Company with flexibility and
leverage with potential high impact from success. Additionally,
Empyrean has a 7.5% interest in the Sugarloaf Block A operated by
ConocoPhillips in the Eagle Ford Shale, and a 10% working interest
in the Riverbend Project in Texas currently producing from the
Wilcox formation.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of an offeree
company or of any securities exchange offeror (being any offeror
other than an offeror in respect of which it has been announced
that its offer is, or is likely to be, solely in cash) must make an
Opening Position Disclosure following the commencement of the offer
period and, if later, following the announcement in which any
securities exchange offeror is first identified. An Opening
Position Disclosure must contain details of the person's interests
and short positions in, and rights to subscribe for, any relevant
securities of each of (i) the offeree company and (ii) any
securities exchange offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) of the Code applies must be made by no
later than 3.30 pm (London time) on the 10th business day following
the commencement of the offer period and, if appropriate, by no
later than 3.30 pm (London time) on the 10th business day following
the announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of
the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any securities exchange offeror must make a
Dealing Disclosure if the person deals in any relevant securities
of the offeree company or of any securities exchange offeror. A
Dealing Disclosure must contain details of the dealing concerned
and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree
company and (ii) any securities exchange offeror, save to the
extent that these details have previously been disclosed under Rule
8. A Dealing Disclosure by a person to whom Rule 8.3(b) of the Code
applies must be made by no later than 3.30 pm (London time) on the
business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3 of the Code.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and 8.4 of
the Code).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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