Circle Oil PLC Exercise of Options (6101R)
September 15 2014 - 2:01AM
UK Regulatory
TIDMCOP
RNS Number : 6101R
Circle Oil PLC
15 September 2014
15 September 2014
Circle Oil Plc
("Circle" or the "Company")
Exercise of Options and Director and PDMR Dealings
Circle Oil Plc (AIM: COP) the international oil and gas
exploration, development and production company, announces that it
has issued 2,493,153 ordinary shares of EUR0.01 ("New Ordinary
Shares") each in the Company pursuant to an exercise of
options.
Of the 2,493,153 shares being issued, 2,120,028 are pursuant to
the exercise of options by Professor Chris Green, Chief Executive
Officer of the Company and 148,402 are pursuant to the exercise of
options by Brendan McMorrow, Chief Financial Officer of the
Company.
On 12 September 2014, Circle was notified by Professor Green
that on 12 September 2014 he sold 2,120,028 shares in the Company
at an average price of 26.22p. The Company was also notified on 12
September 2014 by Mr McMorrow, that he sold 148,402 shares in the
Company at an average price of 26.22p. The beneficial ownership of
Professor Green and Mr McMorrow is therefore unchanged, their
current shareholdings in the Company are set out below:
Shares % of Issued Share Capital
----------------- ------- --------------------------
Professor Green 50,000 0.009
----------------- ------- --------------------------
Mr McMorrow 50,000 0.009
----------------- ------- --------------------------
Application has been made for the New Ordinary Shares to be
admitted to trading on the London Stock Exchange's AIM market for
listed securities ("Admission"). Admission and dealings in the New
Ordinary Shares are expected to become effective on 18 September
2014. The new Ordinary Shares will rank pari passu with the
Company's existing Ordinary Shares.
Following Admission, the total issued share capital of the
Company will be 565,846,639 Ordinary Shares, of which 465,846,639
have voting rights.
The above figure of 565,846,639 shares 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, Company under the FCA's Disclosure
and Transparency Rules.
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
Professor Chris Green, CEO
Brendan McMorrow, CFO
Investec (+44 20 7597 5970)
Chris Sim
George Price
James Rudd
Liberum Capital Limited (+44 20 3100 2222)
Clayton Bush
Tim Graham
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
Shabnam Bashir
Murray Consultants (+353 1 498 0300)
Joe Murray
Joe Heron
Glossary
PDMR - Persons discharging management responsibility
Notes to Editors
Circle Oil Plc (AIM: COP) is an international oil & gas
exploration, development and production Company with an expanding
portfolio of assets in Morocco, Tunisia, Oman and Egypt with a
combination of low-risk near-term production and significant
exploration upside potential. The Company listed on AIM in October
2004.
Internationally, the Company has continued to expand its
portfolio over the past years and now has assets in the Rharb
Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the
Mahdia Permit offshore Tunisia and the Zeit Bay area of Egypt.
Circle also has the largest licence holding of any company in Oman.
In addition to its prospective Block 52 offshore, Circle also has
an ongoing exploration programme in Block 49 onshore.
Circle's strategy is to locate and secure additional licences in
prospective hydrocarbon provinces and through targeted investment
programmes, monetise the value in those assets for the benefit of
shareholders. This could be achieved through farm-outs to selected
partners who would then invest in and continue the development of
the asset into production, or Circle may itself opt to use its own
expertise to appraise reserves and bring assets into production,
generating sustained cash flow for further investment.
Further information on Circle is available on its website at
www.circleoil.net
This information is provided by RNS
The company news service from the London Stock Exchange
END
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