Last checked at 6 Feb 2018 12:20
88 Energy Limited
Exercise of Options
88 Energy Limited ("88E" or the "Company") confirms that it has issued a total of 64,719,441 fully paid ordinary shares in the Company (the "New Ordinary Shares") pursuant to the exercise of options (the "Options").
Application has been made for admission of the New Ordinary Shares to trading on AIM, which is expected to occur on 12 February 2018. Following the issue of the New Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 4,713,183,373 ordinary shares in issue, all of which have voting rights.
The Company also announces that certain of the Options were exercised by directors of the Company on 6 February 2018, details of which are as follows:
Director | Number of Options Exercised | Exercise Price | Total number of Ordinary Shares held after Exercise of Options | % interest after Exercise of Options |
Michael John Evans | 8,000,000 | $0.015 | 18,541,667 | 0.39% |
2,125,000 | $0.02 | |||
George Henry Stephen Staley | 3,500,000 | $0.015 | 10,141,667 | 0.22% |
825,000 | $0.02 | |||
David James Wall | 18,500,000 | $0.015 | 32,291,666 | 0.69% |
1,375,000 | $0.02 | |||
750,000 | $0.02 | |||
Brent Villemarette | 6,000,000 | $0.015 | 7,221,222 | 0.15% |
In addition, certain of the directors of the Company sold their interest in unlisted options held by them on 6 February 2018, details of which are as follows:
Director | Number of Options Sold | Sale Price | Description of Options |
George Henry Stephen Staley | 2,500,000 | $0.011 | Unlisted Options exercisable at $0.015 on or before 18 February 2018 |
David James Wall | 6,500,000 | $0.011 | Unlisted Options exercisable at $0.015 on or before 18 February 2018 |
The direct and indirect interests of the directors of the Company after the exercise of Options and other transactions described above are now as follows:
Director | Total number of Ordinary Shares held | % interest | Total number of Options held |
Michael John Evans | 18,541,667 | 0.39% | 8,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018 |
5,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020 | |||
George Henry Stephen Staley | 10,141,667 | 0.22% | 6,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018 |
David James Wall | 32,291,666 | 0.69% | 40,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018 |
20,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020 | |||
Brent Villemarette | 7,221,222 | 0.15% | 6,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018 |
5,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020 |
Media and Investor Relations:
88 Energy Ltd
Dave Wall, Managing Director Tel: +61 8 9485 0990
Email: admin@88energy.com
Finlay Thomson, Investor Relations Tel: +44 7976 248471
Hartleys Ltd
Dale Bryan Tel: + 61 8 9268 2829
Cenkos Securities Tel: + 44 131 220 6939
Neil McDonald/Derrick Lee
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Michael John Evans | |
2. | Reason for the Notification | ||
a) | Position/status | Director 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 | 88 Energy Limited | |
b) | LEI | 213800YFW5171TD69V35 | |
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 the Financial instrument, type of instrument | Ordinary shares | |
Identification code | AU00000088E2 | ||
b) | Nature of the Transaction | Exercise of Options | |
c) | Price(s) and volume(s) | Number of Options Exercised | Price |
8,000,000 | $0.015 | ||
2,125,000 | $0.02 | ||
d) | Aggregated information Aggregated volume Price | 10,125,000 options exercised at an aggregate value of $162,500 | |
e) | Date of the transaction | 6 February 2018 | |
f) | Place of the transaction | London Stock Exchange, AIM (LON:88E) | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | George Henry Stephen Staley | |
2. | Reason for the Notification | ||
a) | Position/status | Director 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 | 88 Energy Limited | |
b) | LEI | 213800YFW5171TD69V35 | |
4.(i) | 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 the Financial instrument, type of instrument | Ordinary shares | |
Identification code | AU00000088E2 | ||
b) | Nature of the Transaction | Exercise of Options | |
c) | Price(s) and volume(s) | Number of Options Exercised | Price |
3,500,000 | $0.015 | ||
825,000
| $0.02
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d) | Aggregated information Aggregated volume Price | 4,325,000 options exercised at an aggregate value of $69,000
| |
e) | Date of the transaction | 6 February 2018 | |
f) | Place of the transaction | London Stock Exchange, AIM (LON:88E) | |
4.(ii) | 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 the Financial instrument, type of instrument | Ordinary shares | |
Identification code | AU00000088E2 | ||
b) | Nature of the Transaction | Sale of Options | |
c) | Price(s) and volume(s) | Number of Options Sold 2,500,000 | Price $0.011 |
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d) | Aggregated information Aggregated volume Price | 2,500,000 Options sold at an aggregate value of $27,500 | |
e) | Date of the transaction | 6 February 2018 | |
f) | Place of the transaction | London Stock Exchange, AIM (LON:88E) | |
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | David James Wall | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Director 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 | 88 Energy Limited | ||||
b) | LEI | 213800YFW5171TD69V35 | ||||
4.(i) | 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 the Financial instrument, type of instrument | Ordinary shares | ||||
Identification code | AU00000088E2 | |||||
b) | Nature of the Transaction | Exercise of Options | ||||
c) | Price(s) and volume(s) | Number of Options Exercised | Price | |||
18,500,000 | $0.015 | |||||
1,375,000 | $0.02 | |||||
750,000 | $0.02 | |||||
d) | Aggregated information Aggregated volume Price | 20,625,000 options exercised at an aggregate value of $320,000 | ||||
e) | Date of the transaction | 6 February 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (LON:88E) | ||||
4.(ii) | 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 the Financial instrument, type of instrument | Ordinary shares | ||||
Identification code | AU00000088E2 | |||||
b) | Nature of the Transaction | Sale of Options | ||||
c) | Price(s) and volume(s) | Number of Options Sold 6,500,000 | Price $0.011 | |||
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d) | Aggregated information Aggregated volume Price | 6,500,000 Options sold at an aggregate value of $71,500 | ||||
e) | Date of the transaction | 6 February 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (LON:88E) | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Brent Villamarette | |
2. | Reason for the Notification | ||
a) | Position/status | Director 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 | 88 Energy Limited | |
b) | LEI | 213800YFW5171TD69V35 | |
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 the Financial instrument, type of instrument | Ordinary shares | |
Identification code | AU00000088E2 | ||
b) | Nature of the Transaction | Exercise of Options | |
c) | Price(s) and volume(s) | Number of Options Exercised | Price |
18,500,000 | $0.015 | ||
1,375,000 | $0.02 | ||
750,000 | $0.02 | ||
d) | Aggregated information Aggregated volume Price | 20,625,000 options exercised at an aggregate value of $320,000 | |
e) | Date of the transaction | 6 February 2018 | |
f) | Place of the transaction | London Stock Exchange, AIM (LON:88E) | |