Exercise of Options

RNS Number : 6852V

Petrel Resources PLC

17 December 2013

 



17 December 2013

Petrel Resources Ltd

("Petrel" or the "Company")

Exercise of Options

Petrel Resources (AIM: PET) announces that it has issued an aggregate of 4,070,000 new shares of €0.0125 each in the Company ("New Shares") following the exercise of options by two of its directors Mr John Teeling and Mr David Horgan and by Company Secretary James Finn.

The options exercise and corresponding issue of New Shares has led to the following changes to directors and secretary interests:

Name	Number of options exercised	Exercise price	Total shareholding following the issue of the New Shares	Percentage of the Company's issued ordinary share capital	Remaining options Exercisable at 43p
John Teeling	1,700,000 100,000	2.5p 5p	5,415,000	5.43%	100,000
David Horgan	1,400,000 100,000	2.5p 5p	4,215,384	4.23%	150,000
James Finn	670,000 100,000	2.5p 5p	1,785,385	1.79%	100,000

Application to AIM and Total Voting Rights

Application will be made for the New Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place at 8.00 a.m. on 23 December 2013.

Following Admission, the Company's issued share capital will be 99,681,992 ordinary shares of €0.0125 each, with each ordinary share carrying the right to one vote.  There are no shares held in treasury.

The above figure of 99,681,992 ordinary shares 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 the Company, under the Disclosure and Transparency Rules.

ENDS

Enquiries:

Petrel Resources Plc
David Horgan, Managing Director	[phone]
John Teeling, Executive Chairman	[phone]
Northland Capital Partners Limited
John Howes / Alice Lane Edward Hutton / Gavin Burnell	[phone]
Blythe Weigh Communications	[phone]
Tim Blythe	[phone]
Halimah Hussain	[phone]
Camilla Horsfall	[phone]
Pembroke Communications
Natalie Tennyson	[phone]
Alan  Tyrrell	[phone]

www.petrelresources.com

 

END

 

 

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