Faroe Petroleum PLC Director/PDMR Shareholding (3159T)
03 July 2018 - 1:30AM
UK Regulatory
TIDMFPM
RNS Number : 3159T
Faroe Petroleum PLC
02 July 2018
02 July 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 29 June 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 GBP1.46 each:
Partnership Shares Purchase Matching Shares Purchase
(no.) price (no.) price
Graham Stewart 257 GBP1.46 514 GBP1.46
Jonathan Cooper 257 GBP1.46 514 GBP1.46
Helge Hammer 257 GBP1.46 514 GBP1.46
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, with four scheduled quarterly investments of GBP375
each (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, and persons closely
associated with them, 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* 2,488,076 5,353,821
Jonathan Cooper** 654,825 3,018,153
Helge Hammer*** 1,319,258 3,284,979
John Bentley 172,270 -
Katherine Roe - -
Roger Witts 109,180 -
Jorunn Saetre 28,571 -
Brent Cheshire 15,000 -
* shareholding includes 852 shares awarded following the vesting
of SIP matching shares between 30.03.18 and 02.07.18 with an equal
and opposite movement in the options total.
** shareholding includes 852 shares awarded following the
vesting of SIP matching shares between 30.03.18 and 02.07.18 with
an equal and opposite movement in the options total.
*** shareholding includes 812 shares awarded following the
vesting of SIP matching shares between 30.03.18 and 02.07.18 with
an equal and opposite movement in the options total.
- Ends -
For further information please contact:
Faroe Petroleum plc Tel: +44 1224 650 920
Graham Stewart, CEO
Stifel Nicolaus Europe Limited Tel: +44 207 710 7600
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/ Ben Brewerton/
Emerson Clarke
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 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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