Director/PDMR Shareholding

RNS Number : 7946Y

Empyrean Energy PLC

06 March 2012

 

6 March 2012

Empyrean Energy PLC

("Empyrean" or the "Company"; Ticker (EME))

Exercise of Options and Director Shareholding's

Empyrean announces that on Friday 2 March 2012 the Company issued 2,800,000 new ordinary shares of 0.02p each in the Company ("Ordinary Shares") following the exercise of options by two Directors of the Company. Application has been made for the new Ordinary Shares to be admitted to AIM on 14 March 2012. The shares will rank pari passu with the existing ordinary shares of 0.02p each in the Company.

Mr Tom Kelly, CEO of the Company, on Friday 2 March 2012 exercised options in respect of 1,800,000 Ordinary Shares at a price of 4p per Ordinary Share. To fund the exercise of options Mr Kelly sold 560,000 Ordinary Shares at a price of 7.75p per Ordinary Share on 2 March 2012 and on 6 March 2012 Mr Kelly sold a further 100,000 Ordinary Shares at a price of 7.25p per Ordinary Share.

As a result, Mr. Kelly now has an interest in 20,731,562 Ordinary Shares representing approximately 9.75% of the total voting rights. Following the transactions Mr Kelly has options over 17,900,000 Ordinary Shares.

Mr Frank Brophy, Technical Director of the Company, on Friday 2 March 2012 exercised options in respect of 1,000,000 Ordinary Shares at a price of 4p per Ordinary Share. To fund the exercise of the options Mr Brophy sold 100,000 Ordinary Shares at a price of 7.25p per Ordinary Share on 6 March 2012.

As a result, Mr. Brophy now has an interest in 2,233,333 Ordinary Shares representing approximately 1.05% of the total voting rights. Following the transactions Mr Brophy has options over 11,450,000 Ordinary Shares.

The effect of the transactions is a net increase in the shareholdings of both Mr Kelly and Mr Brophy.

Following the transaction, Empyrean's total issued and voting share capital will comprise 212,560,678 Ordinary Shares. This figure 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, securities of the Company.

Contact:

Empyrean Energy Plc

Tom Kelly                                                                    Tel: [phone]

Shore Capital & Corporate Limited

Anita Ghanekar                                                            Tel: [phone]

Edward Mansfield

 

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