Directors' Interests
Soco International PLC
06 October 2005
SOCO International plc
('SOCO' or 'the Company')
DIRECTORS' INTERESTS
The Company was notified on 6 October 2005 that Yunfiel SA transferred 40,652
warrants to acquire SOCO International plc shares ('Warrants') at £0.55 each to
Upper Ground Limited for nil consideration. Mr Patrick Maugein, Chairman of the
Company, beneficially owns 100% of the issued share capital of both Yunfiel SA
and Upper Ground Limited.
The Company was notified on 6 October 2005 that Upper Ground Limited has
received 25,000 SOCO International plc ordinary shares of £0.20 each ('Shares')
from New Falcon Oil Limited for consideration of £7.49 per Share. New Falcon
Oil Limited, in which Mr Rui de Sousa, a Non-executive Director of the Company,
owns 100% of the issued share capital, has additionally disposed of 17,408
Shares for consideration of £7.49 per Share.
Mr Maugein is now deemed to have an interest in 6,806,860 Shares representing
9.37% of the issued share capital of the Company. This interest is held through
Chemsa Ltd (5,921,435 Shares representing 8.15%), a trust company whose
potential ultimate beneficiary is the family of Mr Maugein, and through Upper
Ground Limited (885,425 Shares representing 1.22%) of which Mr Maugein owns 100%
of the issued share capital. In addition to Shares, Mr Maugein is interested in
a total of 365,867 Warrants held through Chemsa Ltd (325,215 Warrants) and Upper
Ground Limited (40,652 Warrants) at an exercise price of £0.55 each.
Mr de Sousa is now deemed to have an interest in 1,293,635 Shares, representing
1.78% of the issued share capital of the Company. This interest is held through
Palamos Limited (721,424 Shares representing 0.99%), a trust company whose
potential ultimate beneficiary is the family of Mr de Sousa, and through New
Falcon Oil Limited (572,211 Shares representing 0.79%) of which Mr de Sousa owns
100% of the issued share capital. In addition to Shares, Mr de Sousa is
interested in a total of 1,549,853 Warrants held through Palamos Limited which
holds 55,336 Warrants, 925,187 Warrants and 528,678 Warrants at an exercise
price of £0.55, £0.60 and £0.65 each respectively and through New Falcon Oil
Limited which holds 40,652 Warrants at an exercise price of £0.55 each.
Contact: Carol Fan, 020 7747 2000
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