Exercise of Options and Director's Share Transfer

RNS Number : 0777E

Jersey Oil and Gas PLC

03 May 2017

 

3 May 2017

Jersey Oil and Gas plc

("Jersey Oil & Gas" or the "Company")

Exercise of Options and Director's Share Transfer

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company ‎focused on the UK Continental Shelf region of the North Sea, announces that it has received notices of exercise in respect of certain options to subscribe for 5,244 and 13,333 new ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") (the "Option Shares") at prices of 100 pence and 110 pence per Option Share respectively.  In aggregate, the exercise of these options amounts to a cash subscription of approximately £19,910.

In addition, the Company was yesterday notified that Ronald Lansdell, a Director of the Company, yesterday transferred 884,663 Ordinary Shares held in his name to Quay Investments, an entity owned jointly by Mr Lansdell and his wife. Mr Lansdell's beneficial holding of 884,663 Ordinary Shares therefore remains unchanged and represents approximately 8.9 per cent. of the Company's issued share capital (as enlarged by the Option Shares).

Application has been made for the Option Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Option Shares will commence on AIM at 8:00 a.m. on 9 May 2017. Following Admission, the Company's total issued share capital will consist of 9,935,055 ordinary shares.  As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company 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, the share capital of the Company following Admission.

Enquiries:

Jersey Oil and Gas plc	Andrew Benitz, CEO	C/o Camarco: Tel:  [phone]
Strand Hanson Limited	James Harris Matthew Chandler James Bellman	Tel:  [phone]
Arden Partners plc	Chris Hardie Benjamin Cryer	Tel: [phone]
BMO Capital Markets	Neil Haycock Tom Rider	Tel: [phone]
Camarco	Billy Clegg Georgia Edmonds  James Crothers	Tel:  [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

 

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