TVR and Directors' Holdings

RNS Number : 0809I

Lekoil Limited

27 May 2014

 



27 May 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA

Lekoil Limited

("Lekoil" or the "Company")

Total Voting Rights & Directors' Holdings Update

Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa, announces that, further to the admission of the new ordinary shares associated with completion of the Company's recent placing (as announced on 21 May 2014), Lekoil's issued share capital now consists of 362,906,233 ordinary shares of US$0.00005 each.

Each of these ordinary shares carries one voting right. The number of voting rights is therefore 362,906,233. This figure should be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Lekoil under the Financial Conduct Authority's Disclosure and Transparency Rules.

The Company would also like to take this opportunity to update the market on the shareholdings of the Directors in Lekoil which, despite there being no share acquisitions or disposals by any Director, have been diluted since the Company's admission to AIM in May 2013 as a result of the Company's three successfully completed placings.

The number of shares currently held and the percentage holding for each Director is set out below:

Director	Number of Shares Held	Percentage Holding	Number of Options Held*
Samuel Adegboyega	1,160,000	0.32%	750,000
Olalekan Akinyanmi	39,138,601	10.78%	5,480,000
David Robinson	7,787,004	2.15%	1,600,000
Gregory Eckersley	2,753,050	0.76%	1,162,500
Aisha Oyebode	256,250	0.07%	187,500
Atedo Peterside	256,250	0.07%	187,500
John Van der Welle	nil	nil	187,500

* All options have an exercise price of US$0.75 and an exercise period of 10 years from the date of grant (as disclosed in the Company's admission document.

For further information, please visit www.lekoil.com or contact:

Lekoil Limited Dave Robinson, Chief Financial Officer	[phone]
Strand Hanson Limited  (Joint Financial Adviser & Nominated Adviser) James Harris / James Spinney / Ritchie Balmer	[phone]
Mirabaud Securities LLP (Joint Corporate Broker)
Peter Krens Edward Haig-Thomas	[phone] [phone]
Tavistock Communications (Financial PR) Simon Hudson / Conrad Harrington / Ed Portman	[phone]

The material in this Announcement is for informational purposes only and does not constitute an offer of securities for sale in the United States or any other jurisdiction in which such an offer or solicitation is unlawful.  The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws.  No public offering of securities will be made in the United States.

Neither the content of websites referred to in this Announcement, nor any hyperlinks on such websites is incorporated in, or forms part of, this Announcement.

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