Exercise of Options

RNS Number : 0704E

88 Energy Limited

06 February 2018

 

88 Energy Limited

Exercise of Options

88 Energy Limited ("88E" or the "Company") confirms that it has issued a total of 64,719,441 fully paid ordinary shares in the Company (the "New Ordinary Shares") pursuant to the exercise of options (the "Options").

Application has been made for admission of the New Ordinary Shares to trading on AIM, which is expected to occur on 12 February 2018. Following the issue of the New Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 4,713,183,373 ordinary shares in issue, all of which have voting rights.

The Company also announces that certain of the Options were exercised by directors of the Company on 6 February 2018, details of which are as follows:

Director	Number of Options Exercised	Exercise Price	Total number of Ordinary Shares held after Exercise of Options	% interest after Exercise of Options
Michael John Evans	8,000,000	$0.015	18,541,667	0.39%
	2,125,000	$0.02
George Henry Stephen Staley	3,500,000	$0.015	10,141,667	0.22%
	825,000	$0.02
David James Wall	18,500,000	$0.015	32,291,666	0.69%
	1,375,000	$0.02
	750,000	$0.02
Brent Villemarette	6,000,000	$0.015	7,221,222	0.15%

In addition, certain of the directors of the Company sold their interest in unlisted options held by them on 6 February 2018, details of which are as follows:

Director	Number of Options Sold	Sale Price	Description of Options
George Henry Stephen Staley	2,500,000	$0.011	Unlisted Options exercisable at $0.015 on or before 18 February 2018
David James Wall	6,500,000	$0.011	Unlisted Options exercisable at $0.015 on or before 18 February 2018

The direct and indirect interests of the directors of the Company after the exercise of Options and other transactions described above are now as follows:

Director	Total number of Ordinary Shares held	% interest	Total number of Options held
Michael John Evans	18,541,667	0.39%	8,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018
			5,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020
George Henry Stephen Staley	10,141,667	0.22%	6,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018
David James Wall	32,291,666	0.69%	40,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018
			20,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020
Brent Villemarette	7,221,222	0.15%	6,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018
			5,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020

Media and Investor Relations:

88 Energy Ltd

Dave Wall, Managing Director                                                   Tel: [phone]

Email: [e-mail]

Finlay Thomson, Investor Relations                                        Tel: [phone]

Hartleys Ltd

Dale Bryan                                                                                          Tel: + 61 8 9268 2829

Cenkos Securities                                                                            Tel: + 44 131 220 6939

Neil McDonald/Derrick Lee

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael John Evans
2.	Reason for the Notification
a)	Position/status	Director of the Company
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	88 Energy Limited
b)	LEI	213800YFW5171TD69V35
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 instrument, type of instrument	Ordinary shares
	Identification code	AU00000088E2
b)	Nature of the Transaction	Exercise of Options
c)	Price(s) and volume(s)	Number of Options Exercised	Price
		8,000,000	$0.015
		2,125,000	$0.02
d)	Aggregated information Aggregated volume Price	10,125,000 options exercised at an aggregate value of $162,500
e)	Date of the transaction	6 February 2018
f)	Place of the transaction	London Stock Exchange, AIM (LON:88E)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	George Henry Stephen Staley
2.	Reason for the Notification
a)	Position/status	Director of the Company
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	88 Energy Limited
b)	LEI	213800YFW5171TD69V35
4.(i)	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 instrument, type of instrument	Ordinary shares
	Identification code	AU00000088E2
b)	Nature of the Transaction	Exercise of Options
c)	Price(s) and volume(s)	Number of Options Exercised	Price
		3,500,000	$0.015
		825,000	$0.02
d)	Aggregated information Aggregated volume Price	4,325,000 options exercised at an aggregate value of $69,000
e)	Date of the transaction	6 February 2018
f)	Place of the transaction	London Stock Exchange, AIM (LON:88E)
4.(ii)	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 instrument, type of instrument	Ordinary shares
	Identification code	AU00000088E2
b)	Nature of the Transaction	Sale of Options
c)	Price(s) and volume(s)	Number of Options Sold 2,500,000	Price $0.011
d)	Aggregated information Aggregated volume Price	2,500,000 Options sold at an aggregate value of $27,500
e)	Date of the transaction	6 February 2018
f)	Place of the transaction	London Stock Exchange, AIM (LON:88E)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		David James Wall
2.	Reason for the Notification
a)	Position/status		Director of the Company
b)	Initial notification/amendment		Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name		88 Energy Limited
b)	LEI		213800YFW5171TD69V35
4.(i)	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 instrument, type of instrument		Ordinary shares
	Identification code		AU00000088E2
b)	Nature of the Transaction		Exercise of Options
c)	Price(s) and volume(s)		Number of Options Exercised		Price
			18,500,000		$0.015
			1,375,000		$0.02
			750,000		$0.02
d)	Aggregated information Aggregated volume Price		20,625,000 options exercised at an aggregate value of $320,000
e)	Date of the transaction		6 February 2018
f)	Place of the transaction		London Stock Exchange, AIM (LON:88E)
4.(ii)		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 instrument, type of instrument		Ordinary shares
		Identification code		AU00000088E2
b)		Nature of the Transaction		Sale of Options
c)		Price(s) and volume(s)		Number of Options Sold 6,500,000		Price $0.011
d)		Aggregated information Aggregated volume Price		6,500,000 Options sold at an aggregate value of $71,500
e)		Date of the transaction		6 February 2018
f)		Place of the transaction		London Stock Exchange, AIM (LON:88E)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Brent Villamarette
2.	Reason for the Notification
a)	Position/status	Director of the Company
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	88 Energy Limited
b)	LEI	213800YFW5171TD69V35
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 instrument, type of instrument	Ordinary shares
	Identification code	AU00000088E2
b)	Nature of the Transaction	Exercise of Options
c)	Price(s) and volume(s)	Number of Options Exercised	Price
		18,500,000	$0.015
		1,375,000	$0.02
		750,000	$0.02
d)	Aggregated information Aggregated volume Price	20,625,000 options exercised at an aggregate value of $320,000
e)	Date of the transaction	6 February 2018
f)	Place of the transaction	London Stock Exchange, AIM (LON:88E)

 

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