Soco International PLC
09 June 2005
SOCO International plc ('SOCO' or 'the Company')
Directors' Shareholdings
The Company has today allotted a total of 347,007 ordinary shares of 20 pence
each ('Shares') following the receipt of applications to exercise options over
637,201 Shares at an exercise price of 72.5 pence.
As a result, the interests of Edward T Story (President and CEO) and Roger D
Cagle (Executive Vice President and Chief Financial Officer) in the share
capital of the Company have increased by 154,798 and 192,209 Shares,
respectively.
The Board has decided in this instance that it is in the best interests of the
Company to agree with the option holders that only the net number of Shares be
allotted, after deduction of the number of Shares which would have been sold to
settle the option exercise prices and associated tax liabilities. This has
avoided the requirement for such a sale and therefore no Shares are being sold
as a result of this transaction. The Company will accordingly settle the
associated tax liabilities, and no option holder has received any additional
economic benefit from the manner in which these options have been exercised.
The interests of the Directors in, and following, these transactions are as
follows:
Director Options Shares Total Percentage of
Exercised Allotted Shareholding Issued Share Capital
Edward T Story 284,253 154,798 1,149,254 1.58%
Roger D Cagle 352,948 192,209 262,209 0.36%
All of these interests are beneficial except in relation to the interests of
Roger D Cagle where 83,850 Shares were allotted to and are now held by Cynthia B
Cagle upon the exercise of 153,971 options which were granted to her in respect
of her services to SOCO International plc.
For further information contact: Cynthia Cagle, Company Secretary, SOCO
International plc on 020 7747 2000
This information is provided by RNS
The company news service from the London Stock Exchange
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