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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 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFPM
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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