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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Faroe Petrol. | LSE:FPM | London | Ordinary Share | GB0033032904 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 160.40 | 160.00 | 160.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMFPM
RNS Number : 6223C
Faroe Petroleum PLC
18 April 2017
18 April 2017
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Issue of Equity, Notification of Directors' interests and Total Voting Rights
On 13 April 2017, certain of the Executive Directors and other employees of the Company exercised nil-cost options ("Options") over a total of 2,001,262 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, certain Directors have also sold a proportion of those Ordinary Shares at a price of 100 pence per Ordinary Share, and have retained the balance to increase their shareholding in the Company as detailed below. Following these transactions Graham Stewart and Helge Hammer 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.
Issue of Equity and Total Voting Rights
Faroe Petroleum has applied to the London Stock Exchange for 2,001,262 new Ordinary Shares (the "New Ordinary Shares") to be admitted to trading on AIM ("Admission").
It is expected that Admission will become effective on 20 April 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 366,527,872 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of voting rights in the Company will be 366,527,872.
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)
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Details of the person discharging managerial
1 responsibilities / person closely associated
----- -------------------------------------------------------------------
a) Name Graham Duncan Stewart
----- ---------------------------- -------------------------------------
2 Reason for the notification
----- -------------------------------------------------------------------
a) Position/status Chief Executive
----- ---------------------------- -------------------------------------
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 1,146,314 Ordinary Shares of
the financial 10p each in Faroe Petroleum
instrument, type plc.
of instrument
Identification Sale of 540,192 Ordinary shares
code of 10p each in Faroe Petroleum
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 1,146,314
------------------------------------------------------ ----------------
(ii) 100 p 540,192
------------------------------------------------------ ----------------
d) Aggregated information 606,122 Ordinary Shares of
10p each in Faroe Petroleum
plc.
----- ---------------------------- -------------------------------------
e) Date of the transaction 13 April 2017
----- ---------------------------- -------------------------------------
f) Place of the XLON
transaction
----- ---------------------------- -------------------------------------
Details of the person discharging managerial
1 responsibilities / person closely associated
----- -------------------------------------------------------------------
a) Name Helge Ansgar Hammer
----- ---------------------------- -------------------------------------
2 Reason for the notification
----- -------------------------------------------------------------------
a) Position/status Chief Operating Officer
----- ---------------------------- -------------------------------------
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 365,458 Ordinary Shares of
the financial 10p each in Faroe Petroleum
instrument, type plc.
of instrument
Identification Sale of 171,196 Ordinary shares
code of 10p each in Faroe Petroleum
plc.
ISIN: GB0033032904
----- ---------------------------- -------------------------------------
b) Nature of the (i)Exercise of Options to acquire
transaction 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 365,458
------------------------------------------------------ ----------------
(ii) 100 p 171,196
------------------------------------------------------ ----------------
d) Aggregated information 194,262 Ordinary Shares of
10p each in Faroe Petroleum
plc.
----- ---------------------------- -------------------------------------
e) Date of the transaction 13 April 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) 1,717,785 5,635,606
======================== =============== ====================
Helge Ansgar Hammer(2) 810,440 3,527,070
======================== =============== ====================
Jonathan Robert
Cooper(3) 260,933 3,071,432
======================== =============== ====================
John Bentley 172,270 0
======================== =============== ====================
Roger Witts 83,331 43,168
======================== =============== ==================== Timothy Reed 160,000 0 ======================== =============== ==================== Jorunn Saetre 28,571 0 ======================== =============== ====================
(1) shareholding includes 642 shares awarded following the vesting of SIP matching shares, together an equal and opposite movement in the options total, since the last announcement on 4 April 2017.
(2) shareholding includes 586 shares awarded following the vesting of SIP matching shares, together an equal and opposite movement in the options total, since the last announcement on 4 April 2017.
(3) shareholding includes 968 shares awarded following the vesting of SIP matching shares, together an equal and opposite movement in the options total, since the last announcement on 4 April 2017.
- 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 RBC Capital Markets Tel: +44 20 7653 4000 Matthew Coakes 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
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(END) Dow Jones Newswires
April 18, 2017 10:05 ET (14:05 GMT)
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