Board Changes and Directors' Dealings

RNS Number : 1930X

Solo Oil Plc

08 August 2018

 

FOR IMMEDIATE RELEASE                                                                                       

              8 August 2018

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

SOLO OIL PLC

("Solo" or the "Company")

Board Changes

Directors' Dealings

Board Changes

Alastair Ferguson has now taken over as Non-Executive Chairman and Neil Ritson has retired as Executive Chairman and as a director of the Company and will assume the role of Technical Advisor.   

Dan Maling, previously the Company's Finance Director, will take on the role of Managing Director with immediate effect.

Alastair Ferguson commented:

'I am very pleased to have been appointed to the Board and to take up the role of Non-Executive Chairman at the AGM. I look forward to working with Dan as Managing Director to bring a strong commercial and business focus to the Board that will help drive the monetization of our portfolio of assets. 

On behalf of the Board I would like to thank Neil Ritson for his longstanding service and contributions to the company as both an Executive Director and Chairman and I look forward to working with him as a Technical Advisor.'

Directors Dealings

Further the announcements of 6 August 2018 relating to the issue and allotment of new ordinary shares pursuant to the firm and conditional placing ,  and to the issue and allotment of ordinary shares to be issued to Directors in lieu of fees, Directors'  holdings are as follows:

Director or former Director	Existing holding of shares	Existing Options	Total placing shares	Fee shares	Total number of shares	% of issued share capital
Alastair Ferguson	5,714,286	-	6,666,667	-	12,380,953	2.13%
Jon Fitzpatrick	16,833,777	2,500,000	1,822,222	2,960,000	24,115,999	4.16%
Neil Ritson	4,650,000	5,200,000	-	2,548,889	12,398,889	2.14%
Dan Maling	-	3,250,000	-	7,110,847	10,360,847	1.78%
Don Strang	-	2,000,000	-	1,891,111	3,891,111	0.67%

For further information:

Solo Oil plc Dan Maling	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish/Rosalind Abrahams/Felicity Geidt	[phone]
Shore Capital Joint Broker Jerry Keen Buchanan (PR) Ben Romney / Chris Judd / Henry Wilson	[phone] [phone]

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,

Neil Ritson

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Neil Ritson
2	Reason for notification
a)	Position / status	Former Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Solo Oil plc
b)	LEI	213800Z1HYXM02FSDM70
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of 0.20 pence each in Solo Oil plc ISIN GB00BFIBK408
	Nature of the transaction	Issue of ordinary shares as fee
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 2.23p 2,548,889
d)	Aggregated information	n/a
e)	Date of the transaction	6 August 2018
f)	Place of the transaction	Off market

Alastair Ferguson

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Alastair Ferguson
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Solo Oil plc
b)	LEI	213800Z1HYXM02FSDM70
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of 0.20 pence each in Solo Oil plc ISIN GB00BFIBK408
	Nature of the transaction	Purchase of shares under placing
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 2.25p 6,666,667
d)	Aggregated information	n/a
e)	Date of the transaction	6 August 2018
f)	Place of the transaction	Off market

Jon Fitzpatrick

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Jon Fitzpatrick
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Solo Oil plc
b)	LEI	213800Z1HYXM02FSDM70
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of 0.20 pence each in Solo Oil plc ISIN GB00BFIBK408
	Nature of the transaction	-     Issue of ordinary shares as fee -     Purchase of shares under placing
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 2.23p 2,960,000 2.25p 1,822,222
d)	Aggregated information	n/a
e)	Date of the transaction	6 August 2018
f)	Place of the transaction	Off market

Dan Maling

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Dan Mailing
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Solo Oil plc
b)	LEI	213800Z1HYXM02FSDM70
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of 0.20 pence each in Solo Oil plc ISIN GB00BFIBK408
	Nature of the transaction	Issue of ordinary shares as fee
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 2.23p 7,110,847
d)	Aggregated information	n/a
e)	Date of the transaction	6 August 2018
f)	Place of the transaction	Off market

Don Strang

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Don Strang
2	Reason for notification
a)	Position / status	Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer,  emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Solo Oil plc
b)	LEI	213800Z1HYXM02FSDM70
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description  of  the financial instrument, type of instrument Identification code	Ordinary shares of 0.20 pence each in Solo Oil plc ISIN GB00BFIBK408
	Nature of the transaction	Issue of ordinary shares as fee
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 2.23p 1,891,111
d)	Aggregated information	n/a
e)	Date of the transaction	6 August 2018
f)	Place of the transaction	Off market

 

END

 

 

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