Exercise of Share Options and Directors Dealings

RNS Number : 5902B

Alkane Energy PLC

07 January 2015

 

7 January 2015

Alkane Energy plc

("Alkane" or "the Company")

Exercise of Share Options and Directors Dealing

Alkane Energy plc (AIM: ALK) announces that it has issued 535,533 new ordinary shares of 0.5p each ("Ordinary Shares") following the exercise of share options as follows:

Two employees exercised a total of 135,533 share options under the Employee Share Option Plan.  Options over 100,000 shares were exercised at an exercise price of 18.00 pence per share and options over 35,533 shares were exercised at an exercise price of 20.25 pence per share.

In addition, two directors, Steve Goalby and Dr Cameron Davies, exercised an aggregate of 400,000 share options which were granted on 8 April 2005 under the Post-Admission Share Option Plan.  

Steve Goalby, Finance Director, exercised 300,000 options at an exercise price of 12.75p per share.   On 6 January 2015, Steve Goalby sold 188,980 shares at a price of 29.44p per share in order to satisfy exercise costs and cover the tax liability associated with the exercise of the options.  As a result of this, Steve Goalby's interest in the Company increased to 1,074,381 shares representing 0.72% of the total voting rights of the Company.

Dr Cameron Davies, Non-executive Director, exercised 100,000 options at an exercise price of 12.75p per share.   These options had been granted whilst Dr Davies was an executive director of the Company in the post of Chief Executive.  On 6 January 2015, Dr Davies sold 66,321 shares at a price of 29.44p per share in order to satisfy exercise costs and cover the tax liability associated with the exercise of the options.  As a result of this, Dr Davies' interest in the Company increased to 2,929,611 shares representing 1.98% of the total voting rights of the Company.

Application has been made to the London Stock Exchange for the 535,533 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8:00 a.m. on 13 January 2015. The Ordinary Shares shall rank pari passu with the existing ordinary shares in the Company.

Following Admission, the Company's enlarged issued share capital and total number of voting rights will be 148,200,236 Ordinary Shares. There are no shares held in treasury.

Enquiries:

Alkane Energy plc Neil O'Brien/Steve Goalby	Tel: [phone]
Liberum Clayton Bush/Joshua Hughes	Tel: [phone]

 

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