Director/PDMR Shareholding

RNS Number : 0898U

Soco International PLC

20 December 2012

 



SOCO International plc

("SOCO" or the "Company")

DIRECTORS/PDMR SHAREHOLDING

The Company announces an increase in Directors' shareholdings pursuant to the exercise of certain share awards ("Options").

On 19 December 2012, the Executive Directors of the Company, Ed Story and Roger Cagle and Cynthia Cagle (together, "the Option Holders"), exercised Options over a total of 772,160 SOCO International plc ordinary shares of £0.05 each ("Shares").

The Board of Directors has determined that, in this instance, it serves the best interest of the Company and its shareholders, and in agreement with the Option Holders, to deliver only the net number of Shares to the Option Holders after deducting the number of Shares, being 281,451 Shares, that otherwise would be sold by the Option Holders to settle the associated tax liabilities. The associated tax liabilities will therefore be settled by the Company and no shares will be sold.

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

	Date of original award	Options awarded	Options exercised*	Shares received
E Story	07/01/09	257,600	136,528	86,764
	17/12/09	288,800	205,048	130,308
R Cagle	07/01/09	193,200	102,396	65,073
	17/12/09	216,400	153,644	97,641
C Cagle	07/01/09	131,600	69,748	44,325
	17/12/09	147,600	104,796	66,598

*The number of Options exercised represents the number of Options vested; the remainder of the awarded Options are deemed to have lapsed.

Following these exercises, interests held are as follows:

Ed Story is interested in a total of 13,073,866 Shares representing 3.94% of the voting rights of the Company and 927,200 Options.  11,398,866 of the Shares are held by Mr Story personally and 1,675,000 Shares are held by the Story Family Trust, a connected person to Mr Story.

Roger Cagle is interested in a total of 5,641,191 Shares representing 1.70% of the voting rights of the Company and 695,400 Options. 720,606 of the Shares are held by Mr Cagle personally and 4,920,585 Shares are held by C-Minor Limited, a connected person to Mr Cagle.

Cynthia Cagle is interested in a total of 3,250,362 Shares representing 0.98% of the voting rights of the Company and 474,300 Options.  446,323 of the Shares are held by Ms Cagle personally and 2,804,039 Shares are held by C-Major Limited, a connected person to Ms Cagle.

Roger Cagle and Cynthia Cagle are connected parties and are deemed interested in each of the other's respective interests and jointly are interested in a total of 8,891,553 representing 2.68% of the voting rights of the Company and 1,169,700 Options.

[ENDS]

Contact: 

Carol Fan

SOCO International plc

Tel [phone]

 

END

 

 

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