Director/PDMR Shareholding

RNS Number : 5742Q

BowLeven Plc

20 October 2011

 

20 October 2011

Bowleven plc ("Bowleven" or the "Company")

Directors' interests

The Company announces that on 19 October 2011, pursuant to a conditional placing of 77,500,000 new ordinary shares in the capital of the Company at a placing price of 103 pence each, the following dealings (direct or indirect) by directors of Bowleven took place (in accordance with a derogation granted to the Company in respect of AIM rule 21) pursuant to the conditional placing:-

Ronnie Hanna, Non-Executive Chairman of the Company, has agreed to subscribe for 20,000 ordinary shares in the Company at a price of 103 pence per share. Subject to the allotment of the placing shares on 8 November 2011, Ronnie Hanna's total beneficial shareholding in the Company will be 330,125 shares which at that time will represent approximately 0.11% of the then enlarged issued share capital of the Company.

Kevin Hart, Chief Executive Officer of the Company, has agreed to subscribe for 200,000 ordinary shares in the Company at a price of 103 pence per share. Subject to the allotment of the placing shares on 8 November 2011, Kevin Hart's total beneficial shareholding in the Company will be 2,190,000 shares which at that time will represent approximately 0.75% of the then enlarged issued share capital of the Company.

John Brown, Finance Director of the Company, has agreed to subscribe for 25,000 ordinary shares in the Company at a price of 103 pence per share. Subject to the allotment of the placing shares on 8 November 2011, John Brown's total beneficial shareholding in the Company will be 122,675 shares which at that time will represent approximately 0.04% of the then enlarged issued share capital of the Company.

Ed Willett, Exploration Director of the Company has agreed to subscribe for 25,000 ordinary shares in the Company at a price of 103 pence per share. Subject to the allotment of the placing shares on 8 November 2011, Ed Willett's total beneficial shareholding in the Company will be 217,235 shares which at that time will represent approximately 0.07% of the then enlarged issued share capital of the Company.

Peter Wilson, Director and General Counsel of the Company, has agreed to subscribe for 25,000 ordinary shares in the Company at a price of 103 pence per share. Subject to the allotment of the placing shares on 8 November 2011, Peter Wilson's total beneficial shareholding in the Company will be 277,119 shares which at that time will represent approximately 0.09% of the then enlarged issued share capital of the Company.

Tim Sullivan, Non-Executive Director of the Company, has agreed to subscribe for 50,000 ordinary shares in the Company at a price of 103 pence per share. Subject to the allotment of the placing shares on 8 November 2011, Tim Sullivan's total beneficial shareholding in the Company will be 146,745 shares which at that time will represent approximately 0.05% of the then enlarged issued share capital of the Company.

The allotment of the new ordinary shares pursuant to the conditional placing is subject to, amongst other things, the required shareholder approval to be sought at the Company's General Meeting being held on Monday 7 November 2011.

ENQUIRIES

For further information please contact:

Bowleven plc
Kevin Hart, Chief Executive	00 44 131 524 5678
Kerry Crawford, Head of Investor Relations
BofA Merrill Lynch	00 44 207 628 1000
Andrew Osborne
Tony White
Brunswick Group LLP
Patrick Handley	00 44 207 404 5959
Natalia Erikssen

 

END

 

 

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