Cluff Natural Resources plc Exercise of options and sale of shares by director (8285P)

TIDMCLNR

RNS Number : 8285P

Cluff Natural Resources plc

13 February 2019

13 February 2019

Cluff Natural Resources Plc ('Cluff' or 'the Company')

Exercise of options and sale of shares by a director

Notification of transactions by directors/persons discharging managerial responsibilities

Cluff Natural Resources Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, announces that Algy Cluff, Chairman of the Company, has exercised options over 10,648,709 ordinary shares of 0.5 pence each ("Ordinary Shares") at an exercise price of 1.325 pence and that the Board has allotted and issued 10,648,709 Ordinary Shares to him, conditional only upon admission of such shares to trading on AIM.

Algy Cluff has notified the Company that he has agreed to sell the 10,648,709 Ordinary Shares resulting from the exercise of such options to IPGL Limited, a company controlled by Michael Spencer, at a price of 3.5 pence per share. Following this exercise of options and sale of Ordinary Shares, Algy Cluff's shareholding remains unchanged at 13,038,502 Ordinary Shares.

Application has been made to the London Stock Exchange for admission of the 10,648,709 new Ordinary Shares ("Admission") and, subject to Admission of these shares, dealings on AIM are expected to occur on or around 15 February 2019. Following Admission of these Ordinary Shares, the total issued share capital and total voting rights of the Company will be 548,821,998 Ordinary Shares with voting rights.

The above figure of 548,821,998 may be used by shareholders 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 FCA's Disclosure Guidance and Transparency Rules.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below and gives further details on the transactions described above.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                               John Gordon Cluff 
      ---------------------------------  ----------------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------- 
 a)    Position/status                    Director - Chairman 
      ---------------------------------  ----------------------------------------- 
 b)    Initial notification               Initial notification 
        /Amendment 
      ---------------------------------  ----------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------- 
 a)    Name                               Cluff Natural Resources Plc 
      ---------------------------------  ----------------------------------------- 
 b)    LEI                                213800TS8K1D27AFP275 
      ---------------------------------  ----------------------------------------- 
 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 the financial       Ordinary shares of 0.5p each in Cluff 
        instrument, type of instrument     Natural Resources Plc. Identification 
        Identification code                code (ISIN) for Cluff Natural Resources 
                                           Plc ordinary shares: GB00B6SYKF01 
      ---------------------------------  ----------------------------------------- 
 b)    Nature of the transaction          Exercise of options 
      ---------------------------------  ----------------------------------------- 
 c)    Price(s) and volume(s)               Price(s)   Volume(s) 
                                             1.325p     10,648,709 
      ---------------------------------  ----------------------------------------- 
 d)    Aggregated information 
   - Aggregated volume                     10,648,709 
   - Price                                  1.325p 
 --------------------------------------  ----------------------------------------- 
 e)    Date of the transactions           11 February 2019 
      ---------------------------------  ----------------------------------------- 
 f)    Place of the transaction           Outside of trading venue - exercise 
                                           of share options 
      ---------------------------------  ----------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              John Gordon Cluff 
     --------------------------------  ----------------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------------- 
 a)   Position/status                   Director - Chairman 
     --------------------------------  ----------------------------------------- 
 b)   Initial notification              Initial notification 
       /Amendment 
     --------------------------------  ----------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------------- 
 a)   Name                              Cluff Natural Resources Plc 
     --------------------------------  ----------------------------------------- 
 b)   LEI                               213800TS8K1D27AFP275 
     --------------------------------  ----------------------------------------- 
 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 the financial      Ordinary shares of 0.5p each in Cluff 
       instrument, type of instrument    Natural Resources Plc. Identification 
       Identification code               code (ISIN) for Cluff Natural Resources 
                                         Plc ordinary shares: GB00B6SYKF01 
     --------------------------------  ----------------------------------------- 
 b)   Nature of the transaction         Sale of ordinary shares 
     --------------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)              Price(s)   Volume(s) 
                                           3.5p       10,648,709 
                                          ---------  ----------- 
     --------------------------------  ----------------------------------------- 
 d)   Aggregated information            N/A 
       - Aggregated volume 
       - Price 
     --------------------------------  ----------------------------------------- 
 e)   Date of the transactions          8 February 2019 
     --------------------------------  ----------------------------------------- 
 f)   Place of the transaction          Outside of trading venue -off market 
                                         sale 
     --------------------------------  ----------------------------------------- 
 

**ENDS**

For further information please contact the following:

 
  Cluff Natural Resources Plc                 Tel: [phone] 
                                                2630 
   Algy Cluff / Graham Swindells / Andrew 
    Nunn 
 
    Allenby Capital Limited (Nominated Adviser       Tel: [phone] 
    & Broker) 
   David Hart / Alex Brearley / Asha Chotai 
    (Corporate Finance) 
 
    Camarco Ltd                                     Tel: [phone] 
                                                    4983 
   Billy Clegg/James Crothers / Owen Roberts 
    (Financial PR) 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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February 13, 2019 02:00 ET (07:00 GMT)