Faroe Petroleum PLC Director/PDMR Shareholding (0034B)
05 January 2018 - 12:49AM
UK Regulatory
TIDMFPM
RNS Number : 0034B
Faroe Petroleum PLC
04 January 2018
4 January 2018
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 2018 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 GBP1.022 each:
Partnership Purchase Matching Purchase
Shares (no.) price Shares (no.) price
Graham Stewart 367 GBP1.022 734 GBP1.022
Jonathan
Cooper 367 GBP1.022 734 GBP1.022
Helge Hammer 354 GBP1.022 708 GBP1.022
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 GBP1,500 per employee. Graham Stewart, Jonathan Cooper
and Helge Hammer have committed to invest the maximum of
GBP1,500/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
nil cost.
No of Ordinary Shares No. of options over
Name of 10p each ordinary shares
of 10p each
Graham Stewart* 1,720,297 6,294,068
Jonathan Cooper** 263,439 3,454,138
Helge Hammer*** 812,902 3,926,593
John Bentley 172,270 -
Timothy Read 160,000 -
Roger Witts 109,180 -
Jorunn Saetre 28,571 -
Brent Cheshire - -
* Due to the timing of the quarterly share purchases, no SIP
matching shares vested between 28.09.17 and 03.01.2018.
** Due to the timing of the quarterly share purchases, no SIP
matching shares vested between 28.09.17 and 03.01.2018.
*** Due to the timing of the quarterly share purchases, no SIP
matching shares vested between 28.09.17 and 03.01.2018.
- Ends -
For further information please contact:
Faroe Petroleum plc Tel: +44 1224 650 920
Graham Stewart, CEO
Stifel Nicolaus Europe Tel: +44 207 710 7600
Limited
Callum Stewart /Nicholas
Rhodes / Ashton Clanfield
BMO Capital Markets Tel: +44 207 236 1010
Neil Haycock / Tom Rider
/ Jeremy Low
FTI Consulting Tel: +44 207 831 3113
Edward Westropp/Tom
Hufton
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014, and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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