Faroe Petroleum PLC Director/PDMR Shareholding (5656L)
October 03 2016 - 12:51PM
UK Regulatory
TIDMFPM
RNS Number : 5656L
Faroe Petroleum PLC
03 October 2016
3 October 2016
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Quarterly notification of Directors' Interests and conditional
award of shares
Graham Stewart (Chief Executive), Jonathan Cooper (Chief
Financial Officer) and Helge Hammer (Chief Operating Officer), have
notified the Company that on 30 September 2016 they acquired the
following ordinary shares of 10p each in the Company ('Partnership
Shares') and have been awarded the following conditional shares
('Matching Shares') under the Faroe Petroleum Share Investment Plan
(the "SIP") at a price of 72 pence each:
Partnership Purchase Matching Purchase
Shares price Shares (no.) price
(no.)
Graham Stewart 520 GBP0.72 1,040 GBP0.72
Jonathan Cooper 520 GBP0.72 1,040 GBP0.72
Helge Hammer 584 GBP0.72 1,168 GBP0.72
The SIP is open to all employees on the same terms where, for
every share purchased by an employee the Company will match it with
two matching shares. The matching shares are released at the end of
a three year holding period (subject to the SIP rules) and the
maximum amount that may be invested in Partnership Shares in any
tax year is GBP1,500 per employee. Graham Stewart, Jonathan Cooper
and Helge Hammer have committed to invest the maximum of
GBP1,500/year (noting that Mr Hammer, being resident in Norway, has
committed to the SIP in Norwegian Krona and as such the Sterling
investment varies slightly from quarter to quarter).
At present market purchase shares are being used to satisfy the
matching shares.
Following this transaction the directors hold the following
ordinary shares of 10 pence each in the Company, together with
options over the same (including matching shares) exercisable at
various prices up to 127.5 pence, as follows:
No of Ordinary Shares No. of options over
Name of 10p each ordinary shares
of 10p each
Graham Stewart* 1,026,348 6,624,505
Jonathan Cooper** 202,027 2,965,715
Helge Hammer*** 545,573 3,762,708
John Bentley 172,270 -
Timothy Read 160,000 -
Roger Witts 83,331 43,168
Jorunn Saetre 28,571 -
* shareholding includes 550 shares awarded following the vesting
of SIP matching shares between 01.07.16 and 30.09.16 with an equal
and opposite movement in the options total.
** shareholding includes 550 shares awarded following the
vesting of SIP matching shares between 01.07.16 and 30.09.16 with
an equal and opposite movement in the options total.
*** shareholding includes 508 shares awarded following the
vesting of SIP matching shares between 01.07.16 and 30.09.16 with
an equal and opposite movement in the options total.
- Ends -
For further information please contact:
Faroe Petroleum plc Tel: +44 1224 650 920
Graham Stewart, CEO
Stifel Nicolaus Europe Tel: +44 20 7710 7600
Limited
Callum Stewart /Ashton
Clanfield/
Nicholas Rhodes
RBC Capital Markets Tel: +44 20 7653 4000
Matthew Coakes/Roland
Symonds
FTI Consulting Tel: +44 20 7831 3113
Edward Westropp/Tom
Hufton
This information is provided by RNS
The company news service from the London Stock Exchange
END
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