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RNS Number : 3684T
Faroe Petroleum PLC
04 January 2017
 

4 January 2017

 

Faroe Petroleum plc

 

("Faroe Petroleum" or the "Company")

 

Quarterly notification of Directors' Interests and conditional award of shares

 

Graham Stewart (Chief Executive), Jonathan Cooper (Chief Financial Officer) and Helge Hammer (Chief Operating Officer), have notified the Company that on 3 January 2017 they acquired the following ordinary shares of 10p each in the Company ('Partnership Shares') and have been awarded the following conditional shares ('Matching Shares') under the Faroe Petroleum Share Investment Plan (the "SIP") at a price of £1.0675 each:


Partnership Shares (no.)

 Purchase price  

Matching Shares (no.)

 Purchase price 

Graham Stewart

351

£1.0675

702

£1.0675

Jonathan Cooper

351

£1.0675

                            702

£1.0675

Helge Hammer

385

£1.0675

770

£1.0675






The SIP is open to all employees on the same terms where, for every share purchased by an employee the Company will match it with two matching shares.  The matching shares are released at the end of a three year holding period (subject to the SIP rules) and the maximum amount that may be invested in Partnership Shares in any tax year is £1,500 per employee. Graham Stewart, Jonathan Cooper and Helge Hammer have committed to invest the maximum of £1,500/year (noting that Mr Hammer, being resident in Norway, has committed to the SIP in Norwegian Krona and as such the Sterling investment varies slightly from quarter to quarter).

 

At present market purchase shares are being used to satisfy the matching shares.

 

Following this transaction the directors hold the following ordinary shares of 10 pence each in the Company, together with options over the same (including matching shares) exercisable at various prices up to 127.5 pence, as follows:

 

Name

No of Ordinary Shares

of 10p each

No. of options over

ordinary shares of 10p each




Graham Stewart

1,026,699

6,625,207

Jonathan Cooper

202,378

2,966,417

Helge Hammer

545,958

3,763,478

John Bentley

172,270

-

Timothy Read

160,000

-

Roger Witts

83,331

43,168

Jorunn Saetre

28,571

-

 

 

 

 

 

- Ends -

 

For further information please contact:

 

Faroe Petroleum plc

Graham Stewart, CEO

 

 

Tel: +44 1224 650 920

 

Stifel Nicolaus Europe Limited

Callum Stewart /Ashton Clanfield

 

Tel: +44 20 7710 7600

RBC Capital Markets

Matthew Coakes/Roland Symonds

 

Tel: +44 20 7653 4000

FTI Consulting

Edward Westropp/Kim Camilleri

 

Tel: +44 20 3727 1000

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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