IN BRIEF: Kistos chair told to give GBP20 million in shares to ex-wife

Kistos Holdings PLC - London-based oil and gas producer from offshore and onshore assets in the UK, Norway, and the Netherlands - Executive Chair Andrew Austin is ordered by the UK High Court to transfer half of his Kistos shares to his ex-wife Kulie Austin as part of a divorce settlement. Following the no-cost transfer, Andrew Austin and Kulie Austin each will hold 3.0 million Kistos shares directly and 4.1 million via their pension schemes. As part of the property division arrangements, Kulie Austin agrees to vote on company matters as directed by Andrew Austin and only to sell shares when he sells. As a result, Andrew Austin retains voting rights over all 14.3 million shares, a 17.3% stake worth GBP41.5 million in total.

Current stock price: 290.00 pence, up 1.8% in London on Friday

12-month change: doubled from 147.50p

By Tom Waite, Alliance News editor

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