Cluff Natural Resources plc Exercise of options and sale of shares by director (8285P)
13 February 2019 - 6:00PM
UK Regulatory
TIDMCLNR
RNS Number : 8285P
Cluff Natural Resources plc
13 February 2019
13 February 2019
Cluff Natural Resources Plc ('Cluff' or 'the Company')
Exercise of options and sale of shares by a director
Notification of transactions by directors/persons discharging
managerial responsibilities
Cluff Natural Resources Plc, the AIM quoted natural resources
investing company with a high impact exploration and appraisal
portfolio focused on the Southern and Central North Sea, announces
that Algy Cluff, Chairman of the Company, has exercised options
over 10,648,709 ordinary shares of 0.5 pence each ("Ordinary
Shares") at an exercise price of 1.325 pence and that the Board has
allotted and issued 10,648,709 Ordinary Shares to him, conditional
only upon admission of such shares to trading on AIM.
Algy Cluff has notified the Company that he has agreed to sell
the 10,648,709 Ordinary Shares resulting from the exercise of such
options to IPGL Limited, a company controlled by Michael Spencer,
at a price of 3.5 pence per share. Following this exercise of
options and sale of Ordinary Shares, Algy Cluff's shareholding
remains unchanged at 13,038,502 Ordinary Shares.
Application has been made to the London Stock Exchange for
admission of the 10,648,709 new Ordinary Shares ("Admission") and,
subject to Admission of these shares, dealings on AIM are expected
to occur on or around 15 February 2019. Following Admission of
these Ordinary Shares, the total issued share capital and total
voting rights of the Company will be 548,821,998 Ordinary Shares
with voting rights.
The above figure of 548,821,998 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 share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
The FCA notification, made in accordance with the requirements
of the EU Market Abuse Regulation is appended below and gives
further details on the transactions described above.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Gordon Cluff
--------------------------------- -----------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------
a) Position/status Director - Chairman
--------------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Cluff Natural Resources Plc
--------------------------------- -----------------------------------------
b) LEI 213800TS8K1D27AFP275
--------------------------------- -----------------------------------------
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 Ordinary shares of 0.5p each in Cluff
instrument, type of instrument Natural Resources Plc. Identification
Identification code code (ISIN) for Cluff Natural Resources
Plc ordinary shares: GB00B6SYKF01
--------------------------------- -----------------------------------------
b) Nature of the transaction Exercise of options
--------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1.325p 10,648,709
--------------------------------- -----------------------------------------
d) Aggregated information
- Aggregated volume 10,648,709
- Price 1.325p
-------------------------------------- -----------------------------------------
e) Date of the transactions 11 February 2019
--------------------------------- -----------------------------------------
f) Place of the transaction Outside of trading venue - exercise
of share options
--------------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Gordon Cluff
-------------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Director - Chairman
-------------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Cluff Natural Resources Plc
-------------------------------- -----------------------------------------
b) LEI 213800TS8K1D27AFP275
-------------------------------- -----------------------------------------
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 Ordinary shares of 0.5p each in Cluff
instrument, type of instrument Natural Resources Plc. Identification
Identification code code (ISIN) for Cluff Natural Resources
Plc ordinary shares: GB00B6SYKF01
-------------------------------- -----------------------------------------
b) Nature of the transaction Sale of ordinary shares
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
3.5p 10,648,709
--------- -----------
-------------------------------- -----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------------- -----------------------------------------
e) Date of the transactions 8 February 2019
-------------------------------- -----------------------------------------
f) Place of the transaction Outside of trading venue -off market
sale
-------------------------------- -----------------------------------------
**ENDS**
For further information please contact the following:
Cluff Natural Resources Plc Tel: +44 (0) 20 7887
2630
Algy Cluff / Graham Swindells / Andrew
Nunn
Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 20 3328 5656
& Broker)
David Hart / Alex Brearley / Asha Chotai
(Corporate Finance)
Camarco Ltd Tel: +44 (0) 20 3757
4983
Billy Clegg/James Crothers / Owen Roberts
(Financial PR)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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