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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nostra Terra Oil And Gas Company Plc | LSE:NTOG | London | Ordinary Share | GB00BZ76F335 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1025 | 0.10 | 0.105 | 0.1025 | 0.1025 | 0.1025 | 80,043 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 4.02M | -546k | -0.0007 | -1.43 | 746.52k |
TIDMNTOG
RNS Number : 2225M
Nostra Terra Oil & Gas Company PLC
11 October 2016
11 October 2016
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Director Dealing
Nostra Terra (AIM:NTOG) is pleased to announce that it has agreed today to issue 859,817 ordinary shares of 0.1 pence ("Fee Shares") to its Chairman, Ewen Ainsworth, in lieu of director fees for the period from 1 July 2015 to 30 September 2016.
When Ewen Ainsworth joined Nostra Terra as Chairman of the Company on 24 June 2015 he agreed to receive 40 per cent of his annual fee in share based payments. This reflected his belief in Nostra Terra's vision and also his recognition of the need for prudence in cash remuneration for directors in order to deliver on the Company's strategy.
One third of the Fee Shares will be issued directly to Mr Ainsworth with the remainder to Discovery Energy Limited, a company controlled by him. The number of Fee Shares was calculated on the basis of the closing price for each calendar month during the 15-month period to September 2016. This results in an average issue price for the Fee Shares of 2.90 pence per share. Following the issue of the Fee Shares, Mr. Ainsworth will have an interest in 1,039,817 ordinary shares of 0.1 pence each equating to 1.09% of the enlarged issued ordinary share capital. In addition, as previously disclosed, Mr Ainsworth is interested in 1,000,000 warrants exercisable at 8.77 pence per share (as adjusted for the recent share consolidation).
In future the board of the Company intends to issue shares in lieu of fees to Mr Ainsworth on a quarterly basis in accordance with the same calculation as described above.
Application will be made to the London Stock Exchange for admission of the Fee Shares to trading on AIM ("Admission") and it is expected that Admission will take place and that trading will commence on AIM on 17 October 2016.
Following Admission, the Company will have 95,566,771 Ordinary Shares in issue with each share carrying the right to one vote. The Company has no Ordinary Shares held in treasury. The total number of voting rights in the Company following Admission will therefore be 95,566,771. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc Matt Lofgran, CEO +1 480 993 8933 Strand Hanson Limited (Nominated & Financial Adviser +44 (0) 20 7409 and Joint Broker) 3494 Rory Murphy / Ritchie Balmer Vicarage Capital Limited (Joint +44 (0) 20 3651 Broker) 2910 Rupert Williams / Jeremy Woodgate Cornhill Capital Ltd (Joint +44 (0) 20 7710 Broker) 9610 Nick Bealer / Colin Rowbury
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
October 11, 2016 04:55 ET (08:55 GMT)
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