11 Oct 2010 07:00
11 October 2010
Bahamas Petroleum Company plc
("BPC" or the "Company")
Exercise of options
BPC, the oil and gas exploration company with licences in The Bahamas, today announces the exercise by Ambrian Partners Limited ("Ambrian") of 2,500,000 options into new ordinary shares of 0.002p each ("Ordinary Shares") in BPC (the "New Ordinary Shares") at an exercise price of 4.55p per share.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on 14 October 2010.
Following this transaction, Ambrian will retain option over a further 5,396,398 Ordinary Shares at an exercise price of 4.55p per share until 2 September 2011.
For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue following admission of the New Ordinary Shares to trading on AIM will be 981,982,698, each carrying the right to one vote.
The above figure of 981,982,698 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, BPC under the FSA's Disclosure and Transparency Rules.
Enquiries:
| Bahamas Petroleum Company plc Alan Burns, Chairman and CEO Dr Paul Crevello, Chief Operating Officer
|
Tel: +44 (0) 1624 64 1199 Tel: +44 (0) 1624 64 1199 |
| Strand Hanson Limited Rory Murphy / Liam Buswell
|
Tel: +44 (0) 20 7409 3494 |
| Novus Capital Markets Ltd Charles Goodfellow / Paul Dudley
|
Tel: +44 (0) 20 7107 1872 |
| FirstEnergy Capital LLP Hugh Sanderson / Derek Smith
|
Tel: +44 (0) 20 7448 0200 |
| Financial Dynamics Billy Clegg / Ed Westropp |
Tel: +44 (0) 20 7831 3113 |