EBT Share Sale and Director Dealing

RNS Number : 2309P

Lekoil Limited

04 June 2015

 

4 June 2015

Lekoil Limited

("Lekoil" or the "Company")

EBT Share Sale and Director Dealing

The Company was notified on 13 May 2015 by Genesis Trust & Corporate Services Limited, the trustee of the Company's Employee Benefit Trust ("EBT") that on 13 May 2015 the EBT commenced the process of the transfer of, in aggregate, 4,346,988 ordinary shares of USD0.00005 each in the Company ("Ordinary Shares") to its sole beneficiaries, Lekan Akinyanmi and David Robinson.

Following the transfer:

·     The EBT holds nil Ordinary Shares.

·     Lekan Akinyanmi has a total beneficial shareholding in Lekoil of 41,674,343 Ordinary Shares, representing 11.5 per cent. of the issued share capital of the Company; and

·     David Robinson has a total beneficial shareholding in Lekoil of 9,598,250 Ordinary Shares, representing 2.6 per cent. of the issued share capital of the Company.

Other than a bonus, from May 2013 until November 2014, Lekan Akinyanmi and David Robinson received no remuneration in cash from Lekoil. The share transfers represent remuneration due to the CEO and CFO from May 2013 till November 2014 and are in accordance with the terms agreed at the time of the IPO in May 2013.

For further information, please visit www.lekoil.com or contact:

Lekoil Limited Dave Robinson, Chief Financial Officer	[phone]
Strand Hanson Limited  (Financial & Nominated Adviser) James Harris / James Spinney / Ritchie Balmer	[phone]
Mirabaud Securities LLP (Joint Broker)	[phone]
Peter Krens / Edward Haig-Thomas	[phone]
BMO Capital Markets (Joint Broker)	[phone]
Rupert Newall / Neil Haycock / Thomas Rider
Ladenburg Thalmann & Co. Inc. (US Placing Agent) Jim Hansen / Barry Steiner	[phone] [phone]
Tavistock Communications (Financial PR) Simon Hudson / Ed Portman	[phone]

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