Global Petroleum Ltd Grant of Shares to Directors (1811I)

TIDMGBP

RNS Number : 1811I

Global Petroleum Ltd

26 August 2016

26 August 2016

Global Petroleum Limited

("Global" or "the Company")

Grant of Shares to Directors

Global Petroleum Limited - AIM: GBP, ASX: GBP - the oil and gas exploration company presently focused on emerging plays in Africa and the Mediterranean, announces that it has today made a discretionary grant and allotment of the following ordinary shares of no par value ("Ordinary Shares") to Directors in accordance with the approval given by shareholders in this regard at the Company's Annual General Meeting held in Brisbane on 17 November 2015:

 
 Name             Value       Issue Price   No. of      No. of Ordinary   % voting rights 
                                             Ordinary    Shares held       following 
                                             Shares      following         Admission 
                                             Issued      Admission 
---------------  ----------  ------------  ----------  ----------------  ---------------- 
 Peter Hill       GBP8,281    1.60p         517,545     2,744,472         1.35 
---------------  ----------  ------------  ----------  ----------------  ---------------- 
 John van 
  der Welle       GBP1,498    1.60p         93,629      291,151           0.14 
---------------  ----------  ------------  ----------  ----------------  ---------------- 
 Peter Taylor     A$1,546     3.17c         48,771      40,485,773        19.98 
---------------  ----------  ------------  ----------  ----------------  ---------------- 
 Peter Blakey     A$1,546     3.17c         48,771      39,864,468        19.67 
---------------  ----------  ------------  ----------  ----------------  ---------------- 
 Damien Cronin    A$4,125     3.17c         130,126     478,015           0.24 
---------------  ----------  ------------  ----------  ----------------  ---------------- 
 

The number of shares issued was based on the average share price for the period 1 May to 31 July 2016, being A$0.03173 on ASX and GBP0.01602 on the London Stock Exchange, and on the 25% cash value forgone by the Directors of their entitlements (less applicable UK income taxes and National Insurance contributions) as set out in audited Remuneration Report in the Company's 2014-2015 Annual Report.

The new Ordinary Shares will rank equally in all respects with the existing ordinary shares of the Company. Application for admission to trading on AIM ("Admission") for 838,842 new Ordinary Shares has been made and Admission is expected to be effective from 31 August 2016.

Following Admission, the total issued share capital of the Company will be 202,652,927 ordinary shares. The Company holds no Ordinary Shares in treasury.

An Appendix 3B and Directors' Appendix 3Ys will be separately released on ASX

For further information please visit www.globalpetroleum.com.au or contact:

 
 Global Petroleum Limited 
                                                   [phone] 
 Peter Hill, Managing Director & CEO                6802 
                                                   [phone] 
 Damien Cronin, Company Secretary                   8732 
 RFC Ambrian Limited (Nominated Adviser & Joint 
  Broker) 
                                                   [phone] 
 Charlie Cryer / Oliver Morse                       6800 
 FirstEnergy Capital LLP (Joint Broker) 
                                                   [phone] 
 Hugh Sanderson                                     0200 
 Tavistock (Financial PR & IR) 
                                                   [phone] 
 Simon Hudson / Edward Portman                      3150 
 

-ends-

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 26, 2016 02:00 ET (06:00 GMT)