TIDMGED

RNS Number : 7839E

Global Energy Development PLC

12 April 2011

 
 For Immediate Release   12 April 2011

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

EXERCISE OF OPTIONS AND DIRECTOR SHAREHOLDING

The Company announces that it received a notice of exercise on 28 March 2011 from Mr. Alan Henderson, a Director of the Company, in respect of an option (the "Option") to acquire 30,000 ordinary shares of the Company ("Ordinary Shares") at an exercise price of 54.5 pence per Ordinary Share granted under the rules of the Company's Employee Share Option Scheme (the "Scheme"). The Option was exercised in respect of 10,765 Ordinary Shares, resulting in the issue of 10,765 Ordinary Shares (the "New Shares") to Mr. Henderson. In accordance with the Rules of the Scheme, the aggregate exercise price payable in respect of the New Shares was funded by the cancellation of the Option in respect of 19,235 Ordinary Shares (being the balance of the Option). The aggregate nominal value of the New Shares (being GBP107.65) was paid by Mr. Henderson in cash.

Following this exercise, Mr. Henderson has a beneficial interest in 25,292 Ordinary Shares representing 0.07% of the issued share capital of the Company.

Application has been made for the New Shares to be admitted to trading on AIM and admission is expected to occur on 18 April 2011. The New Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following admission, the issued share capital of the Company will be 35,766,774 Ordinary Shares.

For further information:

Global Energy Development PLC

 
 
 Anna Williams, Director of Corporate 
  Communications and Special Projects    +001 817 773 1502 
 
 www.globalenergyplc.com

Buchanan Communications

 
 Tim Thompson     +44 (0)20 7466 5126 
 Chris McMahon    +44 (0)20 7466 5156

This information is provided by RNS

The company news service from the London Stock Exchange

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSFDFIEFFSESL

Global Energy Development (LSE:GED)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Global Energy Development Charts.
Global Energy Development (LSE:GED)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Global Energy Development Charts.