Nostra Terra Oil & Gas Company PLC Director Dealing (2225M)
11 October 2016 - 7:55PM
UK Regulatory
TIDMNTOG
RNS Number : 2225M
Nostra Terra Oil & Gas Company PLC
11 October 2016
11 October 2016
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Director Dealing
Nostra Terra (AIM:NTOG) is pleased to announce that it has
agreed today to issue 859,817 ordinary shares of 0.1 pence ("Fee
Shares") to its Chairman, Ewen Ainsworth, in lieu of director fees
for the period from 1 July 2015 to 30 September 2016.
When Ewen Ainsworth joined Nostra Terra as Chairman of the
Company on 24 June 2015 he agreed to receive 40 per cent of his
annual fee in share based payments. This reflected his belief in
Nostra Terra's vision and also his recognition of the need for
prudence in cash remuneration for directors in order to deliver on
the Company's strategy.
One third of the Fee Shares will be issued directly to Mr
Ainsworth with the remainder to Discovery Energy Limited, a company
controlled by him. The number of Fee Shares was calculated on the
basis of the closing price for each calendar month during the
15-month period to September 2016. This results in an average issue
price for the Fee Shares of 2.90 pence per share. Following the
issue of the Fee Shares, Mr. Ainsworth will have an interest in
1,039,817 ordinary shares of 0.1 pence each equating to 1.09% of
the enlarged issued ordinary share capital. In addition, as
previously disclosed, Mr Ainsworth is interested in 1,000,000
warrants exercisable at 8.77 pence per share (as adjusted for the
recent share consolidation).
In future the board of the Company intends to issue shares in
lieu of fees to Mr Ainsworth on a quarterly basis in accordance
with the same calculation as described above.
Application will be made to the London Stock Exchange for
admission of the Fee Shares to trading on AIM ("Admission") and it
is expected that Admission will take place and that trading will
commence on AIM on 17 October 2016.
Following Admission, the Company will have 95,566,771 Ordinary
Shares in issue with each share carrying the right to one vote. The
Company has no Ordinary Shares held in treasury. The total number
of voting rights in the Company following Admission will therefore
be 95,566,771. This figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company
plc
Matt Lofgran, CEO +1 480 993 8933
Strand Hanson Limited
(Nominated & Financial Adviser +44 (0) 20 7409
and Joint Broker) 3494
Rory Murphy / Ritchie Balmer
Vicarage Capital Limited (Joint +44 (0) 20 3651
Broker) 2910
Rupert Williams / Jeremy Woodgate
Cornhill Capital Ltd (Joint +44 (0) 20 7710
Broker) 9610
Nick Bealer / Colin Rowbury
This information is provided by RNS
The company news service from the London Stock Exchange
END
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