Faroe Petroleum PLC Director/PDMR Shareholding (3684T)
January 04 2017 - 11:30AM
UK Regulatory
TIDMFPM
RNS Number : 3684T
Faroe Petroleum PLC
04 January 2017
4 January 2017
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 3 January 2017 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 GBP1.0675 each:
Partnership Purchase Matching Purchase
Shares (no.) price Shares (no.) price
Graham Stewart 351 GBP1.0675 702 GBP1.0675
Jonathan
Cooper 351 GBP1.0675 702 GBP1.0675
Helge Hammer 385 GBP1.0675 770 GBP1.0675
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 1,026,699 6,625,207
Jonathan Cooper 202,378 2,966,417
Helge Hammer 545,958 3,763,478
John Bentley 172,270 -
Timothy Read 160,000 -
Roger Witts 83,331 43,168
Jorunn Saetre 28,571 -
- 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
RBC Capital Markets Tel: +44 20 7653 4000
Matthew Coakes/Roland
Symonds
FTI Consulting Tel: +44 20 3727 1000
Edward Westropp/Kim
Camilleri
This information is provided by RNS
The company news service from the London Stock Exchange
END
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