Grant of Shares to Director

RNS Number : 7280Z

Sterling Energy PLC

20 March 2012

 

20 March 2012

STERLING ENERGY PLC

("Sterling" or the "Company")

Grant of Shares to Director

Sterling Energy Plc ("Sterling" or the "Company") (AIM: SEY), the independent oil and gas exploration and production company with interests in the Middle East and Africa, today advises that it has granted 102,000 Ordinary Shares of 40p each (the "Shares") in Sterling Energy Plc to Angus MacAskill, Chief Executive, in settlement of a bonus awarded for 2011 under the Sterling Energy Plc Bonus Plan. The Shares have been granted with the restriction that they may not be traded for a period of 12 months from the date of issue.  

Application has today been made for the 102,000 Ordinary Shares of 40p each in the Company to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). The Shares will rank pari passu with the Company's existing Ordinary Shares and dealings are expected to commence on AIM on 26 March 2012.

Following Admission, the total issued share capital of the Company will be 219,491,020 Ordinary Shares of 40p each.

Subsequent to this award, Mr MacAskill's beneficial interest will total 202,000 Ordinary Shares of 40p each representing 0.09% of the issued share capital of the Company.  Mr MacAskill also has beneficial interest in 1,609,800 options under the All Staff Long Term Incentive Plan.

Further information:
Sterling Energy plc	([phone])
Alastair Beardsall, Chairman Angus MacAskill, Chief Executive Web site: www.sterlingenergyplc.com
Liberum Capital	([phone])
Simon Atkinson Tim Graham

 

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