Faroe Petroleum PLC Director/PDMR Shareholding (1659E)
May 04 2017 - 3:30AM
UK Regulatory
TIDMFPM
RNS Number : 1659E
Faroe Petroleum PLC
04 May 2017
4 May 2017
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Issue of Equity, Notification of Directors' interests and Total
Voting Rights
On 3 May 2017, Roger Witts, a Non-Executive Director of the
Company exercised nil-cost options ("Options") over a total of
43,168 ordinary shares of 10 pence each in the share capital of the
Company ("Ordinary Shares") under the Faroe Petroleum Incentive
Plan ("FPIP").
Director Shareholdings
To meet the associated income tax liability arising from the
exercise of the Options, he has also sold a proportion of those
Ordinary Shares at a price of 92.6 pence per Ordinary Share, and
has retained the balance to increase his shareholding in the
Company as detailed below.
Following these transactions the Directors hold Ordinary Shares,
together with options over the same (including Matching Shares)
exercisable at various prices up to 127.50 pence as also detailed
below.
The nil-cost options held by Roger Witts were derived from an
historic award of share options under the Faroe Petroleum Option
Scheme made whilst serving as an executive director, and were
exchanged for nil cost options under the FPIP in July 2013.
Issue of Equity and Total Voting Rights
Faroe Petroleum has applied to the London Stock Exchange for
43,168 new Ordinary Shares (the "New Ordinary Shares") to be
admitted to trading on AIM ("Admission").
It is expected that Admission will become effective on 9 May
2017. The New Ordinary Shares will, following allotment, rank pari
passu in all respects with the existing issued Ordinary Shares.
Following Admission, the Company's issued share capital will be
366,571,040 Ordinary Shares. The Company does not hold any Ordinary
Shares in treasury. Therefore the total number of voting rights in
the Company will be 366,571,040.
Shareholders may use this figure 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, the
share capital of the Company under the FSA's Disclosure and
Transparency Rules.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
(Disclosure in relation to exercise of share options and sale of
shares)
Details of the person discharging managerial
1 responsibilities / person closely associated
----- -------------------------------------------------------------------
a) Name Roger Charles Witts
----- ---------------------------- -------------------------------------
2 Reason for the notification
----- -------------------------------------------------------------------
a) Position/status Non-Executive Director
----- ---------------------------- -------------------------------------
b) Initial notification Initial notification
/Amendment
----- ---------------------------- -------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- -------------------------------------------------------------------
a) Name Faroe Petroleum plc
----- ---------------------------- -------------------------------------
b) LEI 213800RE18GVZGNYB270
----- ---------------------------- -------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
----- -------------------------------------------------------------------
a) Description of 43,168 Ordinary Shares of 10p
the financial each in Faroe Petroleum plc.
instrument, type
of instrument Sale of 17,319 Ordinary shares
Identification of 10p each in Faroe Petroleum
code plc.
ISIN: GB0033032904
----- ---------------------------- -------------------------------------
b) Nature of the (i) Exercise of Options to
transaction acquire new Ordinary shares
of 10p each
(ii) Sale of new ordinary shares
of 10p each
----- ---------------------------- -------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s)
----- ---------------------------- --------------------- --------------
(i) 0.00 p 43,168
-------------------------------------------------------- --------------
(ii) 92.6 p 17,319
-------------------------------------------------------- --------------
d) Aggregated information 25,849 Ordinary Shares of 10p
each in Faroe Petroleum plc.
----- ---------------------------- -------------------------------------
e) Date of the transaction 3 May 2017
----- ---------------------------- -------------------------------------
f) Place of the XLON
transaction
----- ---------------------------- -------------------------------------
Total Holdings
Following these transactions the Directors hold the following
Ordinary Shares together with options over the same (including
historic Matching Shares) exercisable at various prices up to 127.5
pence, as follows:
Director No of Ordinary No. of options over
Shares ordinary shares
of 10p each of 10p each
===================== =============== ====================
Graham Duncan
Stewart 1,717,785 5,635,606
===================== =============== ====================
Helge Ansgar Hammer 810,440 3,527,070
===================== =============== ====================
Jonathan Robert
Cooper 260,933 3,071,432
===================== =============== ====================
John Bentley 172,270 0
===================== =============== ====================
Roger Witts 109,180 0
===================== =============== ====================
Timothy Read 160,000 0
===================== =============== ====================
Jorunn Saetre 28,571 0
===================== =============== ====================
- 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 /Nicholas
Rhodes/Ashton Clanfield
BMO Capital Markets Tel: +44 (0) 207 236
Neil Haycock/ Tom Rider/ 1010
Jeremy Low
FTI Consulting Tel: +44 20 7831 3113
Edward Westropp/Emerson
Clarke
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014, and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHDZLBBDEFFBBD
(END) Dow Jones Newswires
May 04, 2017 03:30 ET (07:30 GMT)
Faroe Petroleum (LSE:FPM)
Historical Stock Chart
From Apr 2024 to May 2024
Faroe Petroleum (LSE:FPM)
Historical Stock Chart
From May 2023 to May 2024