30 Nov 2016 15:45
30 November 2016
EGDON RESOURCES PLC
("Egdon" or "the Company")
Directors' Share Dealing
The Company has been informed of the following recent transactions by Directors:
In the Open Offer Philip Stephens, Non-executive Chairman, purchased 12,890 shares; Mark Abbott, Managing Director, purchased 50,563 ordinary shares; Andrew Lodge, non-executive Director purchased 31,250 shares and Kenneth Rafcliff, non-executive Director purchased 9,984 shares; all at the Open Offer price of 13.5p.
A trust of which Walter Roberts, non-executive director and company secretary, is a trustee distributed 70,182 shares to each of the two beneficiaries thus reducing his beneficial holding although none of these shares have been sold.
Following these transactions and in order to update the percentages following the recent placing and open offer, the holdings of those Directors holding shares in the Company are as set out in the following table.
Director | Holding of Ordinary Shares | Percentage of Enlarged Share Capital |
Philip Stephens | 112,890 | 0.04% |
Mark Abbott | 7,864,387 | 3.04% |
Andrew Lodge | 531,250 | 0.21% |
Kenneth Ratcliff | 169,743 | 0.07% |
Walter Roberts | 974,129 | 0.38% |
Public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Philip Stevens | ||||
2 | Reason for notification | |||||
a) | Position / status | PDMR/Chairman | ||||
b) | Initial notification/Amendment | Initial notification
| ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Egdon Resources plc | ||||
b) | LEI | NA | ||||
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
Identification code | Ordinary Shares of 1 pence each
NA | ||||
b) | Nature of the transaction | Open Offer purchase | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information Aggregated Volume Price |
12,890 13.5 pence
| ||||
e) | Date of the transaction | 29 November 2016 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Mark Abbott | ||||
2 | Reason for notification | |||||
a) | Position / status | PDMR/Managing Director | ||||
b) | Initial notification/Amendment | Initial notification
| ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Egdon Resources plc | ||||
b) | LEI | NA | ||||
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
Identification code | Ordinary Shares of 1 pence each
NA | ||||
b) | Nature of the transaction | Open Offer purchase | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information Aggregated Volume Price |
50,563 13.5 pence
| ||||
e) | Date of the transaction | 29 November 2016 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Andrew Lodge | ||||
2 | Reason for notification | |||||
a) | Position / status | PDMR/Non-Executive Director | ||||
b) | Initial notification/Amendment | Initial notification
| ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Egdon Resources plc | ||||
b) | LEI | NA | ||||
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
Identification code | Ordinary Shares of 1 pence each
NA | ||||
b) | Nature of the transaction | Open Offer purchase | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information Aggregated Volume Price |
31,250 13.5 pence
| ||||
e) | Date of the transaction | 29 November 2016 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ken Ratcliffe | ||||
2 | Reason for notification | |||||
a) | Position / status | PDMR/Non-Executive Director | ||||
b) | Initial notification/Amendment | Initial notification
| ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Egdon Resources plc | ||||
b) | LEI | NA | ||||
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
Identification code | Ordinary Shares of 1 pence each
NA | ||||
b) | Nature of the transaction | Open Offer purchase | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information Aggregated Volume Price |
9,984 13.5 pence
| ||||
e) | Date of the transaction | 29 November 2016 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
For further information please contact:
Egdon Resources plc
Mark Abbott 01256 702 292
Buchanan
Richard Darby, Anna Michniewicz 020 7466 5000
Nominated Adviser and Broker - Cantor Fitzgerald Europe
David Porter, Sarah Wharry (Corporate Finance)
Mark Westcott (Sales)
020 7894 7000
Joint Broker - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
Notes to Editors:
Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company primarily focused on onshore exploration and production in the hydrocarbon-producing basins of the UK.
Egdon holds interests in 43 licences in the UK and France and has an active programme of exploration, appraisal and development within its balanced portfolio of oil and gas assets. Egdon is an approved operator in both the UK and France.
Egdon was formed in 1997 and listed on AIM in December 2004.
In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained in this announcement has been reviewed and signed off by the Managing Director of Egdon Resources plc Mark Abbott, a Geoscientist with over 26 years' experience.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.