22 Dec 2014 16:47
22 December 2014
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Director Shareholding
On 19 December 2014, the following Directors of the Company acquired the following ordinary shares of 10 pence each in the share capital of the Company ("Ordinary Shares") :
Director | Role | Price (p) | Ordinary Shares |
Graham Stewart | Chief Executive | 67.8547 | 93,837 |
Helge Hammer | Chief Operating Officer | 67.8547 | 53,958 |
Jonathan Cooper | Chief Financial Officer | 67.8547 | 63,372 |
Tim Read | Senior Non executive Director | 68.5000 | 20,000 |
Roger Witts | Non Executive Director | 73.0000 | 15,000 |
The Ordinary Shares acquired by the Executive Directors will be treated as 'Investment Shares' under the Faroe Petroleum plc Co-Investment Plan and an award of conditional Matching Share is expected to be made in the New Year to be announced separately.
The Ordinary Shares acquired by Roger Witts were in his pension scheme.
Total Holdings
Following these transactions the relevant Directors hold the following Ordinary Shares together with options over the same (including historic Matching Shares) exercisable at various prices up to 186.25 pence, as follows:
Director | No of Ordinary Shares of 10p each | No. of options over ordinary shares of 10p each |
Graham Stewart | 561,079 | 4,417,490 |
Helge Hammer | 352,215 | 2,437,384 |
Jonathan Cooper | 97,666 | 850,141 |
Tim Read | 110,000 | - |
Roger Witts* | 83,331 | 43,168 |
Graham Stewart also holds an option to acquire 84,547 Ordinary Shares under a Long Term Incentive Plan exercisable at the nominal price of 10 pence per Ordinary Share.
* Roger Witts was granted certain share options whilst acting as an executive director.
- Ends -
For further information please contact:
Faroe Petroleum plc Graham Stewart, CEO
|
Tel: +44 1224 650 920
|
Oriel Securities Limited Callum Stewart/ Ashton Clanfield/ Michael Shaw
| Tel: +44 20 7710 7600 |
RBC Capital Markets Matthew Coakes/Jeremy Low
| Tel: +44 20 7653 4000 |
FTI Consulting Edward Westropp/Tom Hufton
| Tel: +44 20 3727 1000 |