Exercise of Warrants & Director/PDMR Shareholding

RNS Number : 8187M

Westmount Energy Limited

02 May 2018

 

WESTMOUNT ENERGY LIMITED

("Westmount" or the "Company")

Exercise of Warrants and Director/PDMR Shareholding

The Company announces that, following an exercise of warrants, at an exercise price of 7.5p, application has been made for 2,092,205 ordinary shares of no par value in the capital of the Company ("New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari-passu with existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on or around 8 May 2018.

As part of the above warrant exercise, a total of 1,525,000 warrants have been exercised by certain directors, the details of which are as follows:

Director	Existing Ordinary Shares held	New Ordinary Shares received	Resultant Ordinary Shares held	Percentage of enlarged issued share capital
Gerry Walsh	4,650,000	775,000	5,425,000	12.1%
Dermot Corcoran	4,500,000	750,000	5,250,000	11.7%

Following admission of the New Ordinary Shares, the Company's issued ordinary share capital will comprise 44,825,520 ordinary shares, of which none are held in treasury. Therefore, the total number of ordinary shares with voting rights in Westmount following Admission will be 44,825,520, which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Westmount Energy Limited                             www.westmountenergy.com

David King, Director                                            Tel: [phone]

Jane Vlahopoulou                                              

Cenkos Securities plc (Nomad and Broker)

Nicholas Wells                                                  Tel: [phone]

Harry Hargreaves

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gerry Walsh
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Westmount Energy Limited
b)	LEI	213800GJISWVBB5S3L84
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	Warrants over Nil Par Value Ordinary Shares in the Company
	Identification code	ISIN: GB00B0S5KR31
b)	Nature of the transaction	Exercise of warrants
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			7.5p	775,000
d)	Aggregated information
	- Aggregated volume	775,000
	- Price	£58,125.00
e)	Date of the transaction	30 April 2018
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dermot Corcoran
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Westmount Energy Limited
b)	LEI	213800GJISWVBB5S3L84
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	Warrants over Nil Par Value Ordinary Shares in the Company
	Identification code	ISIN: GB00B0S5KR31
b)	Nature of the transaction	Exercise of warrants
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			7.5p	750,000
d)	Aggregated information
	- Aggregated volume	750,000
	- Price	£56,250.00
e)	Date of the transaction	1 May 2018
f)	Place of the transaction	Outside of trading venue

 

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