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FPM Faroe Petrol.

160.40
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Faroe Petroleum PLC Director/PDMR Shareholding (1125S)

28/09/2017 11:46am

UK Regulatory


Faroe Petroleum (LSE:FPM)
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RNS Number : 1125S

Faroe Petroleum PLC

28 September 2017

28 September 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 27 September 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 GBP0.98 each:

 
                     Partnership    Purchase        Matching    Purchase 
                    Shares (no.)       price    Shares (no.)       price 
 Graham Stewart              383   GBP0.9800             766   GBP0.9800 
 Jonathan 
  Cooper                     383   GBP0.9800             766   GBP0.9800 
 Helge Hammer                389   GBP0.9800             778   GBP0.9800 
 
 

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 nil cost.

 
                      No of Ordinary Shares   No. of options over 
   Name                         of 10p each       ordinary shares 
                                                      of 10p each 
 
 Graham Stewart*                  1,719,930             6,293,334 
 Jonathan Cooper**                  263,072             3,453,404 
 Helge Hammer***                    812,548             3,925,885 
 John Bentley                       172,270                     - 
 Timothy Read                       160,000                     - 
 Roger Witts                        109,180                     - 
 Jorunn Saetre                       28,571                     - 
 

* shareholding includes 684 shares awarded following the vesting of SIP matching shares between 26.06.17 and 27.09.17 with an equal and opposite movement in the options total. An increase of 127,392 options reflects an adjustment to the amount of FPIP nil cost options previously announced as lapsed on 24 July 2017.

** shareholding includes 684 shares awarded following the vesting of SIP matching shares between 26.06.17 and 27.09.17 with an equal and opposite movement in the options total. An increase of 68,827 options reflects an adjustment to the amount of FPIP nil cost options previously announced as lapsed on 24 July 2017.

*** shareholding includes 656 shares awarded following the vesting of SIP matching shares between 26.06.17 and 27.09.17 with an equal and opposite movement in the options total. An increase of 70,627 options reflects an adjustment to the amount of FPIP nil cost options previously announced as lapsed on 24 July 2017.

- Ends -

For further information please contact:

 
  Faroe Petroleum plc          Tel: +44 1224 650 920 
   Graham Stewart, CEO 
 Stifel Nicolaus Europe       Tel: +44 207 710 7600 
  Limited 
  Callum Stewart /Nicholas 
  Rhodes / Ashton Clanfield 
 BMO Capital Markets          Tel: +44 207 236 1010 
  Neil Haycock / Tom Rider 
  / Jeremy Low 
 FTI Consulting               Tel: +44 207 831 3113 
  Edward Westropp/Tom 
  Hufton 
 

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

DSHBVLFLDKFZBBZ

(END) Dow Jones Newswires

September 28, 2017 06:46 ET (10:46 GMT)

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