Register to get unlimited Level 2

Company Announcements

Notification of Directors' interests

Related Companies

RNS Number : 0648U
Faroe Petroleum PLC
12 January 2017
 

12 January 2017

Faroe Petroleum plc

("Faroe Petroleum" or the "Company")

Notification of Directors' interests

On 11 January 2017, Executive Directors of the Company acquired ordinary shares of 10 pence each in the share capital of the Company ("Ordinary Shares").  The Ordinary Shares acquired by the Executive Directors have been treated as 'Investment Shares' under the Faroe Petroleum plc Co-Investment Plan ('FPCIP'), and the Remuneration Committee, which is comprised wholly of non-executive directors, has today made an award of conditional Matching Shares.  The value of the Matching Shares is equivalent to the gross amount invested prior to the deduction of income tax at the participant's marginal rate together with any employee social security charge or other similar payroll deduction.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

(Disclosure in relation to purchase of shares and award of matching shares)

 

 1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Graham Duncan Stewart

2

Reason for the notification 

a)

Position/status 

Chief Executive

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Faroe Petroleum plc

b)

LEI  

213800RE18GVZGNYB270

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 

73,398 Ordinary Shares of 10p each in Faroe Petroleum plc.

 

138,512 Matching Shares of 10p each in Faroe Petroleum plc.

ISIN: GB0033032904

b)

Nature of the transaction 

(i)    Purchase of Ordinary Shares

(ii)   Award of conditional Matching Shares

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

(i)    103.50p

73,398

(ii)   104.00p

138,512

d)

 

Aggregated information 

 

211,910 Ordinary Shares of 10p each in Faroe Petroleum plc.

e)

Date of the transaction 

11 and 12 January 2017

f)

Place of the transaction 

XLON

 

 

 

 1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Helge Ansgar Hammer

2

Reason for the notification 

a)

Position/status 

Chief Operating Officer

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Faroe Petroleum plc

b)

LEI  

213800RE18GVZGNYB270

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 

60,546 Ordinary Shares of 10p each in Faroe Petroleum plc.

 

114,044 Matching Shares of 10p each in Faroe Petroleum plc.

ISIN: GB0033032904

b)

Nature of the transaction 

(i)    Purchase of Ordinary Shares

(ii)   Award of conditional Matching Shares

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

(i)    103.50p

60,546

(ii)   104.00p

114,044

d)

 

Aggregated information 

 

174,590 Ordinary Shares of 10p each in Faroe Petroleum plc.

e)

Date of the transaction 

11 and 12 January 2017

f)

Place of the transaction 

XLON

 

 

 1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jonathan Robert Cooper

2

Reason for the notification 

a)

Position/status 

Chief Financial Officer

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Faroe Petroleum plc

b)

LEI  

213800RE18GVZGNYB270

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 

49,563 Ordinary Shares of 10p each in Faroe Petroleum plc.

 

93,533 Matching Shares of 10p each in Faroe Petroleum plc.

ISIN: GB0033032904

b)

Nature of the transaction 

(i)    Purchase of Ordinary Shares

(ii)   Award of conditional Matching Shares

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

(i)    103.50p

49,563

(ii)   104.00p

93,533

d)

 

Aggregated information 

 

143,096 Ordinary Shares of 10p each in Faroe Petroleum plc.

e)

Date of the transaction 

11 and 12 January 2017

f)

Place of the transaction 

XLON

 

Total Holdings

 

Following these transactions the relevant Directors hold the following Ordinary Shares together with options over the same (including historic Matching Shares) exercisable at various prices up to 127.5 pence, as follows:

 

Director 

No of Ordinary Shares

of 10p each

No. of options over

ordinary shares of 10p each

Graham Duncan Stewart1

1,027,335

6,763,083

Helge Ansgar Hammer2

546,510

3,876,970

Jonathan Robert Cooper3

203,330

3,058,998

 

1 shareholding includes 636 shares awarded following the vesting of SIP matching shares, together an equal and opposite movement in the options total, since the last announcement on 4 January 2017.

2 shareholding includes 552 shares awarded following the vesting of SIP matching shares, together an equal and opposite movement in the options total, since the last announcement on 4 January 2017.

3 shareholding includes 952 shares awarded following the vesting of SIP matching shares, together an equal and opposite movement in the options total, since the last announcement on 4 January 2017.

 

 

- Ends -

For further information please contact:

 

Faroe Petroleum plc

Graham Stewart, CEO

 

 

Tel: +44 1224 650 920

 

Stifel Nicolaus Europe Limited

Callum Stewart /Nicholas Rhodes/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
 
END
 
 
DSHZLLFFDFFEBBD

Top of Page