29 Jul 2011 14:08
Northern Petroleum Plc ("Northern" or "the Company") Extension of Warrants
Northern announces that certain warrants due to lapse on 31 July, 31 October 2011 and 31 December 2011 (the "Warrants"), held by certain Directors and staff, have all had their terms extended. The Board of Directors of Northern resolved yesterday to extend the exercise period of the Warrants until 29 February 2012. The Company's Nominated Adviser has also been consulted on this matter. The Company received notification on 28 July 2011 from all class Warrant holders concerned agreeing to the variation.
The Warrants held by Directors and staff which have been subject to thisextension are:Name Number of Warrants over Exercise Price Ordinary 5p Shares A.N Brewer 150,000 117p C.J Foss 200,000 12.50p 275,000 130p R H R Latham 150,000 130p D.R Musgrove 660,000 11.25p 250,000 15.625p 400,000 130p J.M White 280,000 11.25p 120,000 15.625p 150,000 130p Employees 100,000 11.25p 200,000 12.50p 37,500 67p - Ends -
For further information please contact:
Northern Petroleum Plc Tel: +44 (0) 20 7469 2900 Chris Foss, Director of Finance, Legal & Corporate Affairs Cenkos Securities (NOMAD and Joint Broker) Jon Fitzpatrick Tel: +44 (0) 20 7397 8900 Ken Fleming / Beth McKiernan Tel: +44 (0) 131 220 6939 Jefferies International (Joint Broker) Tel: +44 (0) 20 7029 8000
Chris Snoxall Financial Dynamics Tel: +44 (0) 20 7831 3113
Billy Clegg / Edward Westropp
Bishopsgate Communications Tel: +44 (0) 20 7562 3350 Nick Rome /Shabnam Bashir Notes to Editors:
Comprehensive information on Northern and its oil and gas operations, including all press releases, annual reports and interim reports are available from Northern's website at www.northpet.com.
XLON