Westmount Energy Limited Exercise of Warrants & Director/PDMR Shareholding (8187M)

TIDMWTE

RNS Number : 8187M

Westmount Energy Limited

02 May 2018

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

Exercise of Warrants and Director/PDMR Shareholding

The Company announces that, following an exercise of warrants, at an exercise price of 7.5p, application has been made for 2,092,205 ordinary shares of no par value in the capital of the Company ("New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari-passu with existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on or around 8 May 2018.

As part of the above warrant exercise, a total of 1,525,000 warrants have been exercised by certain directors, the details of which are as follows:

 
 Director            Existing   New Ordinary   Resultant       Percentage 
                     Ordinary         Shares    Ordinary      of enlarged 
                       Shares       received      Shares           issued 
                         held                       held    share capital 
 Gerry Walsh        4,650,000        775,000   5,425,000            12.1% 
 Dermot Corcoran    4,500,000        750,000   5,250,000            11.7% 
 

Following admission of the New Ordinary Shares, the Company's issued ordinary share capital will comprise 44,825,520 ordinary shares, of which none are held in treasury. Therefore, the total number of ordinary shares with voting rights in Westmount following Admission will be 44,825,520, which 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 Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

   Westmount Energy Limited                             www.westmountenergy.com 
   David King, Director                                            Tel: [phone] 

Jane Vlahopoulou

Cenkos Securities plc (Nomad and Broker)

   Nicholas Wells                                                  Tel: [phone] 

Harry Hargreaves

 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
----  --------------------------------------------------------------------- 
 a)    Name                            Gerry Walsh 
----  ------------------------------  ------------------------------------- 
 2     Reason for the notification 
----  --------------------------------------------------------------------- 
 a)    Position/status                 Director 
----  ------------------------------  ------------------------------------- 
 b)    Initial notification            Initial notification 
        /Amendment 
----  ------------------------------  ------------------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  --------------------------------------------------------------------- 
 a)    Name                            Westmount Energy Limited 
----  ------------------------------  ------------------------------------- 
 b)    LEI                             213800GJISWVBB5S3L84 
----  ------------------------------  ------------------------------------- 
 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                  Warrants over Nil Par Value 
        the financial                   Ordinary Shares in the Company 
        instrument, type 
        of instrument 
---- 
 
       Identification                  ISIN: GB00B0S5KR31 
        code 
 
 b)    Nature of the                   Exercise of warrants 
        transaction 
----  ------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s) 
----                                   ----------------  ---------------- 
                                        Price(s)          Volume(s) 
----                                   ----------------  ---------------- 
                                        7.5p              775,000 
                                       ----------------  ---------------- 
 
 d)    Aggregated information 
---- 
  - Aggregated volume             775,000 
 
  - Price                         GBP58,125.00 
 
 e)    Date of the transaction         30 April 2018 
----  ------------------------------  ------------------------------------- 
 f)    Place of the transaction        Outside of trading venue 
----  ------------------------------  ------------------------------------- 
 
 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
----  --------------------------------------------------------------------- 
 a)    Name                            Dermot Corcoran 
----  ------------------------------  ------------------------------------- 
 2     Reason for the notification 
----  --------------------------------------------------------------------- 
 a)    Position/status                 Director 
----  ------------------------------  ------------------------------------- 
 b)    Initial notification            Initial notification 
        /Amendment 
----  ------------------------------  ------------------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  --------------------------------------------------------------------- 
 a)    Name                            Westmount Energy Limited 
----  ------------------------------  ------------------------------------- 
 b)    LEI                             213800GJISWVBB5S3L84 
----  ------------------------------  ------------------------------------- 
 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                  Warrants over Nil Par Value 
        the financial                   Ordinary Shares in the Company 
        instrument, type 
        of instrument 
---- 
 
       Identification                  ISIN: GB00B0S5KR31 
        code 
 
 b)    Nature of the                   Exercise of warrants 
        transaction 
----  ------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s) 
----                                   ----------------  ---------------- 
                                        Price(s)          Volume(s) 
----                                   ----------------  ---------------- 
                                        7.5p              750,000 
                                       ----------------  ---------------- 
 
 d)    Aggregated information 
---- 
  - Aggregated volume             750,000 
 
  - Price                         GBP56,250.00 
 
 e)    Date of the transaction         1 May 2018 
----  ------------------------------  ------------------------------------- 
 f)    Place of the transaction        Outside of trading venue 
----  ------------------------------  ------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 02, 2018 02:00 ET (06:00 GMT)