2017-2018 Options Term Extension

RNS Number : 0194S

Westmount Energy Limited

01 November 2019

 

1 November 2019

Westmount Energy Limited

("Westmount" or the "Company")

2017-2018 Options Term Extension

Westmount Energy Limited (AIM:  WTE), the energy investment company, announces that the expiry date of the Company's 2017-2018 options, due to expire on 31 December 2019, has been extended to 31 December 2021.  The 2017-2018 options held by the directors are as follows:

Director	Share Options	Exercise Price	New Expiration Date
Gerard Walsh Dermot Corcoran Tom O'Gorman David King	500,000 500,000 500,000 250,000	7.5p per share 7.5p per share 7.5p per share 7.5p per share	31 December 2021 31 December 2021 31 December 2021 31 December 2021

The Share Options may, at any time before expiry, be exercised in whole or in multiples of not less than 5,000 nil par value ordinary shares in the Company ("Ordinary Shares"). Ordinary Shares issued as a result of any such exercise may be sold (subject to applicable laws and AIM Rules) at any time including, but not limited to, a takeover or change of control of the Company.

Following the above grants, the Directors total beneficial interests in Ordinary Shares will be as follows:

Director	Ordinary Shares	Approx. % of Share Capital	Share Options
Gerard Walsh Dermot Corcoran Tom O'Gorman David King	11,933,565 5,250,000 4,650,000 -	10.9 4.8 4.2 -	1,000,000 1,000,000 750,000 500,000

In addition to the above, Mr Walsh holds £400,000 principal of 10% p.a. convertible unsecured loan notes 2021 in the Company.

For further information, please contact:

Westmount Energy Limited                                        www.westmountenergy.com

David King, Director                                                       Tel: [phone]

Jane Vlahopoulou                                                          

Cenkos Securities plc (Nomad and Broker)

Nicholas Wells                                                                  Tel: [phone]

Harry Hargreaves

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gerard Walsh
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Westmount Energy Limited
b)	LEI	213800GJISWVBB5S3L84
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Options over ordinary shares of no par value
	Identification code	ISIN: GB00B0S5KR31
b)	Nature of the transaction	Extension of option expiration date
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			-	500,000
d)	Aggregated information
	- Aggregated volume	500,000
	- Price	-
e)	Date of the transaction	1 November 2019
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dermot Corcoran
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Westmount Energy Limited
b)	LEI	213800GJISWVBB5S3L84
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Options over ordinary shares of no par value
	Identification code	ISIN: GB00B0S5KR31
b)	Nature of the transaction	Extension of option expiration date
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			-	500,000
d)	Aggregated information
	- Aggregated volume	500,000
	- Price	-
e)	Date of the transaction	1 November 2019
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tom O'Gorman
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Westmount Energy Limited
b)	LEI	213800GJISWVBB5S3L84
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Options over ordinary shares of no par value
	Identification code	ISIN: GB00B0S5KR31
b)	Nature of the transaction	Extension of option expiration date
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			-	500,000
d)	Aggregated information
	- Aggregated volume	250,000
	- Price	-
e)	Date of the transaction	1 November 2019
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David King
2	Reason for the notification
a)	Position/status	Non-Executive Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Westmount Energy Limited
b)	LEI	213800GJISWVBB5S3L84
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Options over ordinary shares of no par value
	Identification code	ISIN: GB00B0S5KR31
b)	Nature of the transaction	Extension of option expiration date
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			-	250,000
d)	Aggregated information
	- Aggregated volume	250,000
	- Price	-
e)	Date of the transaction	1 November 2019
f)	Place of the transaction	Outside of trading venue

 

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