Nautical Petroleum PLC Exercise of Options (3612J)

TIDMNPE

RNS Number : 3612J

Nautical Petroleum PLC

06 August 2012

 
For immediate release  6 August 2012 
 

Nautical Petroleum plc

("Nautical" or the "Company")

Exercise of Options

Following the sanction of the Scheme by the High Court of Justice in England and Wales ("Court"), the Company announces that today it has today issued 4,267,500 New Ordinary Shares of 20 pence each ("Shares") pursuant to an exercise of options. Application has been made for the Shares to be admitted to trading on the AIM Market of the London Stock Exchange.

Of the 4,267,500 Shares to be issued pursuant to the exercise of options, 3,515,000 have been exercised by Directors of the Company. Further details are set out below:

 
 Director           Number of Options   Exercise Price      Resultant        Percentage 
                        Exercised             (p)            Number of       of enlarged 
                                                          Ordinary Shares    issued share 
                                                                               capital 
-----------------  ------------------  ---------------  -----------------  -------------- 
 Patrick Kennedy         75,000             80.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         75,000             220.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             177.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             211.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             26.75 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             57.50 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         35,000             433.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         35,000             323.25 
-----------------  ------------------  ---------------  -----------------  -------------- 
                                                             403,000            0.44% 
-----------------  ------------------  ---------------  -----------------  -------------- 
 Stephen Jenkins         250,000            80.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         300,000            220.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         125,000            177.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         150,000            211.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         150,000            26.75 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         150,000            57.50 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         150,000            433.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         150,000            323.25 
-----------------  ------------------  ---------------  -----------------  -------------- 
                                                            2,333,096           2.54% 
-----------------  ------------------  ---------------  -----------------  -------------- 
 
 Paul Jennings           200,000            80.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         200,000            220.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         75,000             177.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         100,000            211.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         125,000            26.75 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         100,000            57.50 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         125,000            433.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         125,000            323.25 
-----------------  ------------------  ---------------  -----------------  -------------- 
                                                            1,946,096           2.11% 
-----------------  ------------------  ---------------  -----------------  -------------- 
 William Mathers         100,000            36.17 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         100,000            57.50 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         100,000            433.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         100,000            323.25 
-----------------  ------------------  ---------------  -----------------  -------------- 
                                                             420,000            0.46% 
-----------------  ------------------  ---------------  -----------------  -------------- 
 Philip Dimmock          75,000             80.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         75,000             220.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             177.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             211.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             26.75 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         25,000             57.50 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         35,000             433.00 
-----------------  ------------------  ---------------  -----------------  -------------- 
                         35,000             323.25 
-----------------  ------------------  ---------------  -----------------  -------------- 
                                                             328,000            0.36% 
-----------------  ------------------  ---------------  -----------------  -------------- 
 

Pursuant to the Scheme Nautical is scheduled to be suspended from trading on AIM on 7 August 2012. Admission and dealings in the New Ordinary Shares will only occur if the suspension is lifted and the Scheme does not become effective.

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"), the Company confirms that it now has in issue 92,022,679 ordinary shares of 20p each in the Company. The ISIN of the Nautical Shares is GB00B3D2ND74.

The Scheme remains conditional upon, inter alia, the confirmation of the Capital Reduction by the Court, which is scheduled to take place on 7 August 2012. The Board is not currently aware of any reason why such sanction and confirmation should not be forthcoming.

Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the Scheme Document.

 
 
 Nautical Petroleum plc                                             Tel: [phone] 
Will Mathers, Chief Financial Officer 
 
 
 Investec (financial adviser, nominated adviser and joint broker)   Tel: [phone] 
Chris Sim 
Neil Elliot 
 
 
 RBC Capital Markets (joint broker)                                 Tel: [phone] 
Tim Chapman 
Matthew Coakes 
 
 
 Buchanan (public relations adviser)                                Tel: [phone] 
Tim Thompson 
 Ben Romney 
 Helen Chan 
 
 
Disclosure requirements 
 Under Rule 8.3(a) of the Code, any person who is interested 
 in 1% or more of any class of relevant securities of an offeree 
 company or of any paper offeror (being any offeror other than 
 an offeror in respect of which it has been announced that its 
 offer is, or is likely to be, solely in cash) must make an 
 Opening Position Disclosure following the commencement of the 
 offer period and, if later, following the announcement in which 
 any paper offeror is first identified. 
 An Opening Position Disclosure must contain details of the 
 person's interests and short positions in, and rights to subscribe 
 for, any relevant securities of each of (i) the offeree company 
 and (ii) any paper offeror(s). An Opening Position Disclosure 
 by a person to whom Rule 8.3(a) applies must be made by no 
 later than 3.30 p.m. (London time) on the 10th Business Day 
 following the commencement of the offer period and, if appropriate, 
 by no later than 3.30 p.m. (London time) on the 10th Business 
 Day following the announcement in which any paper offeror is 
 first identified. Relevant persons who deal in the relevant 
 securities of an offeree company or of a paper offeror prior 
 to the deadline for making an Opening Position Disclosure must 
 instead make a Dealing Disclosure. 
 Under Rule 8.3(b) of the Code, any person who is, or becomes, 
 interested in 1% or more of any class of relevant securities 
 of an offeree company or of any paper offeror must make a Dealing 
 Disclosure if the person deals in any relevant securities of 
 the offeree company or of any paper offeror. A Dealing Disclosure 
 must contain details of the dealing concerned and of the person's 
 interests and short positions in, and rights to subscribe for, 
 any relevant securities of each of (i) the offeree company 
 and (ii) any paper offeror, save to the extent that these details 
 have previously been disclosed under Rule 8. A Dealing Disclosure 
 by a person to whom Rule 8.3(b) applies must be made by no 
 later than 3.30 p.m. (London time) on the Business Day following 
 the date of the relevant dealing. 
 If two or more persons act together pursuant to an agreement 
 or understanding, whether formal or informal, to acquire or 
 control an interest in relevant securities of an offeree company 
 or a paper offeror, they will be deemed to be a single person 
 for the purpose of Rule 8.3. 
 Opening Position Disclosures must also be made by the offeree 
 company and by any offeror and Dealing Disclosures must also 
 be made by the offeree company, by any offeror and by any persons 
 acting in concert with any of them (see Rules 8.1, 8.2 and 
 8.4). 
 Details of the offeree and offeror companies in respect of 
 whose relevant securities Opening Position Disclosures and 
 Dealing Disclosures must be made can be found in the Disclosure 
 Table on the Panel's website at www.thetakeoverpanel.org.uk, 
 including details of the number of relevant securities in issue, 
 when the offer period commenced and when any offeror was first 
 identified. If you are in any doubt as to whether you are required 
 to make an Opening Position Disclosure or a Dealing Disclosure, 
 you should contact the Panel's Market Surveillance Unit on 
 [phone]. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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