Empyrean Energy PLC Option Purchase and Exercise (2649Z)
13 March 2017 - 9:30PM
UK Regulatory
TIDMEME
RNS Number : 2649Z
Empyrean Energy PLC
13 March 2017
This announcement contains inside information
Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil &
Gas
13 March 2017
Empyrean Energy PLC ('Empyrean' or 'the Company')
Option Purchase and Exercise
Empyrean confirms that it was notified that on 10 March 2017
that Apnea Holdings Pty Ltd ("Apnea"), a company which is
wholly-owned by Tom Kelly, CEO of Empyrean, on that date purchased
options (the "Options") in respect of 63,000,000 ordinary shares of
0.2p each in in the Company ("Ordinary Shares") from a third party
not connected with the Company (the "Seller"). The terms of the
Options are set out below and the total consideration payable by
Apnea in respect of the purchase of the Options was AU$275,000
(equivalent to approximately GBP171,000).
Number of Options Exercise Price Expiry Date
18,000,000 0.2 pence 19 July 2017
15,000,000 2.1 pence 19 July 2017
15,000,000 4.1 pence 25 March 2018
15,000,000 2.1 pence 26 July 2019
Further to the announcement on 15 December 2016, the first
tranche of Options detailed above reflects the agreement reached
between the Company and the Seller that, if this tranche of Options
were to be exercised prior to shareholder approval being granted
for the necessary capitalisation from reserves to allow the
exercise price to be amended to 0.1p, then this tranche of Options
would have an exercise price of 0.2p and convert into a greater
number of 18,000,000 Ordinary Shares.
Empyrean also announces that, on 10 March 2017, it received
notice from Apnea that it intended to exercise its option in
relation to 18,000,000 Ordinary Shares at an exercise price of 0.2
pence each. Accordingly, the Company has issued and allotted
18,000,000 Ordinary Shares (the "New Ordinary Shares"). Application
will be made for the New Ordinary Shares to be admitted to trading
on AIM. Admission is expected to take place on 17 March 2017. These
New Ordinary Shares will rank pari passu with the existing Ordinary
Shares.
Following this exercise, Tom Kelly has a beneficial interest in
38,881,563 Ordinary Shares, representing 16.21% per cent. of the
enlarged issued share capital of the Company.
Following the transaction, Empyrean's total issued share capital
will comprise 239,833,853 Ordinary Shares, each with voting rights.
This figure 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,
securities of the Company under the Financial Conduct Authority's
Disclosure and Transparency Rules.
**ENDS**
Empyrean Energy plc
Tom Kelly Tel: +61 8 9481 0389
Cenkos Securities plc
Neil McDonald Tel: +44 (0) 131 220
9771
Beth McKiernan Tel: +44 (0) 131 220
9778
Nick Tulloch Tel: +44 (0) 131 220
9772
St Brides Partners Ltd
Elisabeth Tel: +44 (0) 20 7236
Cowell 1177
Lottie Brocklehurst Tel: +44 (0) 20 7236
1177
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 Tom Kelly
---- -------------------------------- ----------------------------------------------
2. Reason for the Notification
---- --------------------------------------------------------------------------------
a) Position/status Chief Executive Officer of the
Company
---- -------------------------------- ----------------------------------------------
b) Initial notification/amendment Initial notification
---- -------------------------------- ----------------------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
---- --------------------------------------------------------------------------------
a) Name Empyrean Energy plc
---- -------------------------------- ----------------------------------------------
b) LEI -
---- -------------------------------- ----------------------------------------------
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 Options over ordinary shares
the Financial instrument, of 0.2p each ("Ordinary Shares")
type of instrument
---- -------------------------------- ----------------------------------------------
Identification GB00B09G2351
code
---- -------------------------------- ----------------------------------------------
b) Nature of the Transaction Purchase of options in respect
of 63,000,000 Ordinary Shares
and subsequent exercise of options
in respect of 18,000,000 Ordinary
Shares at 0.2p per Ordinary
Share.
---- -------------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
---- --------------------------------
AU$275,000 Options in respect
(aggregate) of 63,000,000 Ordinary
(equivalent Shares with an exercise
to approximately price of 0.2p to
GBP171,000) 4.1p per Ordinary
Share
---- --------------------------------
Price Volume
0.2p 18,000,000
------------------------------------- ------------------ --------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume
Price
---- -------------------------------- ----------------------------------------------
e) Date of the transaction 13 March 2017
---- -------------------------------- ----------------------------------------------
f) Place of the transaction London Stock Exchange, AIM (LON:EME)
---- -------------------------------- ----------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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