Director/PDMR Shareholding

RNS Number : 3501L

Soco International PLC

08 January 2009

 



SOCO International plc

('SOCO' or the 'Company')

DIRECTORS/PDMR SHAREHOLDING

The Company announces an increase in Director/ Person Discharging Managerial Responsibility ('PDMR') shareholdings pursuant to an exercise today of certain Long Term Incentive Plan ('LTIP') awards, in accordance with relevant tax regulations requiring exercise upon vesting.

Ed Story and Roger Cagle, both being Executive Directors, and Cynthia Cagle, a PDMR, (together, 'the Option Holders'), exercised options over a total of 167,000 nil-price LTIP awards.  To cover the resulting tax obligations of the exercise, 65,030 Shares in total were sold at a price of £12.04578.

Further details of the aforementioned exercises and transactions are shown below:

Director/PDMR	Options exercised	Shares sold	Resulting interest held (Shares)	Resulting interest held (Options)
Ed Story	75,600	27,556	2,874,459	646,680
Roger Cagle	52,900	21,689	1,143,716	460,580
Cynthia Cagle	38,500	15,785	637,053	303,560

SOCO Employee Benefit Trust ('the SOCO EBT')

Accordingly, the Trustees of the SOCO EBT have today informed the Company that it has released a total of 167,000 SOCO International plc ordinary shares of £0.20 each ('Shares') as a result of the exercise of the above mentioned nil-price option awards, in accordance with the Company's LTIP. Following the release of Shares, the SOCO EBT is interested in 1,752,680 Shares, representing 2.34% of the total voting rights of the Company.

8 January 2009

ENQUIRIES:

SOCO International plc

Carol Fan

Tel: [phone]

Pelham Public Relations

Mark Antelme, tel: [phone]

James Henderson, tel: [phone]

 

END

 

 

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