Nautical Petroleum PLC Exercise of Options (3612J)
August 06 2012 - 4:28AM
UK Regulatory
TIDMNPE
RNS Number : 3612J
Nautical Petroleum PLC
06 August 2012
For immediate release 6 August 2012
Nautical Petroleum plc
("Nautical" or the "Company")
Exercise of Options
Following the sanction of the Scheme by the High Court of
Justice in England and Wales ("Court"), the Company announces that
today it has today issued 4,267,500 New Ordinary Shares of 20 pence
each ("Shares") pursuant to an exercise of options. Application has
been made for the Shares to be admitted to trading on the AIM
Market of the London Stock Exchange.
Of the 4,267,500 Shares to be issued pursuant to the exercise of
options, 3,515,000 have been exercised by Directors of the Company.
Further details are set out below:
Director Number of Options Exercise Price Resultant Percentage
Exercised (p) Number of of enlarged
Ordinary Shares issued share
capital
----------------- ------------------ --------------- ----------------- --------------
Patrick Kennedy 75,000 80.00
----------------- ------------------ --------------- ----------------- --------------
75,000 220.00
----------------- ------------------ --------------- ----------------- --------------
25,000 177.00
----------------- ------------------ --------------- ----------------- --------------
25,000 211.00
----------------- ------------------ --------------- ----------------- --------------
25,000 26.75
----------------- ------------------ --------------- ----------------- --------------
25,000 57.50
----------------- ------------------ --------------- ----------------- --------------
35,000 433.00
----------------- ------------------ --------------- ----------------- --------------
35,000 323.25
----------------- ------------------ --------------- ----------------- --------------
403,000 0.44%
----------------- ------------------ --------------- ----------------- --------------
Stephen Jenkins 250,000 80.00
----------------- ------------------ --------------- ----------------- --------------
300,000 220.00
----------------- ------------------ --------------- ----------------- --------------
125,000 177.00
----------------- ------------------ --------------- ----------------- --------------
150,000 211.00
----------------- ------------------ --------------- ----------------- --------------
150,000 26.75
----------------- ------------------ --------------- ----------------- --------------
150,000 57.50
----------------- ------------------ --------------- ----------------- --------------
150,000 433.00
----------------- ------------------ --------------- ----------------- --------------
150,000 323.25
----------------- ------------------ --------------- ----------------- --------------
2,333,096 2.54%
----------------- ------------------ --------------- ----------------- --------------
Paul Jennings 200,000 80.00
----------------- ------------------ --------------- ----------------- --------------
200,000 220.00
----------------- ------------------ --------------- ----------------- --------------
75,000 177.00
----------------- ------------------ --------------- ----------------- --------------
100,000 211.00
----------------- ------------------ --------------- ----------------- --------------
125,000 26.75
----------------- ------------------ --------------- ----------------- --------------
100,000 57.50
----------------- ------------------ --------------- ----------------- --------------
125,000 433.00
----------------- ------------------ --------------- ----------------- --------------
125,000 323.25
----------------- ------------------ --------------- ----------------- --------------
1,946,096 2.11%
----------------- ------------------ --------------- ----------------- --------------
William Mathers 100,000 36.17
----------------- ------------------ --------------- ----------------- --------------
100,000 57.50
----------------- ------------------ --------------- ----------------- --------------
100,000 433.00
----------------- ------------------ --------------- ----------------- --------------
100,000 323.25
----------------- ------------------ --------------- ----------------- --------------
420,000 0.46%
----------------- ------------------ --------------- ----------------- --------------
Philip Dimmock 75,000 80.00
----------------- ------------------ --------------- ----------------- --------------
75,000 220.00
----------------- ------------------ --------------- ----------------- --------------
25,000 177.00
----------------- ------------------ --------------- ----------------- --------------
25,000 211.00
----------------- ------------------ --------------- ----------------- --------------
25,000 26.75
----------------- ------------------ --------------- ----------------- --------------
25,000 57.50
----------------- ------------------ --------------- ----------------- --------------
35,000 433.00
----------------- ------------------ --------------- ----------------- --------------
35,000 323.25
----------------- ------------------ --------------- ----------------- --------------
328,000 0.36%
----------------- ------------------ --------------- ----------------- --------------
Pursuant to the Scheme Nautical is scheduled to be suspended
from trading on AIM on 7 August 2012. Admission and dealings in the
New Ordinary Shares will only occur if the suspension is lifted and
the Scheme does not become effective.
In accordance with Rule 2.10 of the City Code on Takeovers and
Mergers (the "Code"), the Company confirms that it now has in issue
92,022,679 ordinary shares of 20p each in the Company. The ISIN of
the Nautical Shares is GB00B3D2ND74.
The Scheme remains conditional upon, inter alia, the
confirmation of the Capital Reduction by the Court, which is
scheduled to take place on 7 August 2012. The Board is not
currently aware of any reason why such sanction and confirmation
should not be forthcoming.
Except as otherwise defined herein, capitalised terms used but
not defined in this announcement have the same meanings as given to
them in the Scheme Document.
Nautical Petroleum plc Tel: +44 20 7647 0120
Will Mathers, Chief Financial Officer
Investec (financial adviser, nominated adviser and joint broker) Tel: +44 20 7597 5970
Chris Sim
Neil Elliot
RBC Capital Markets (joint broker) Tel: +44 20 7653 4000
Tim Chapman
Matthew Coakes
Buchanan (public relations adviser) Tel: +44 20 7466 5000
Tim Thompson
Ben Romney
Helen Chan
Disclosure requirements
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 paper 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 paper 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 paper offeror(s). An Opening Position Disclosure
by a person to whom Rule 8.3(a) applies must be made by no
later than 3.30 p.m. (London time) on the 10th Business Day
following the commencement of the offer period and, if appropriate,
by no later than 3.30 p.m. (London time) on the 10th Business
Day following the announcement in which any paper offeror is
first identified. Relevant persons who deal in the relevant
securities of an offeree company or of a paper 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 an offeree company or of any paper offeror must make a Dealing
Disclosure if the person deals in any relevant securities of
the offeree company or of any paper 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 paper 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) applies must be made by no
later than 3.30 p.m. (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 paper offeror, they will be deemed to be a single person
for the purpose of Rule 8.3.
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).
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 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. If you are in any doubt as to whether you are required
to make an Opening Position Disclosure or a Dealing Disclosure,
you should contact the Panel's Market Surveillance Unit on
+44 (0)20 7638 0129.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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