1 May 2018 09:45
1 May 2018
Faroe Petroleum plc
("Faroe Petroleum" or the "Company")
Notification of Directors' interests
On 27 April 2018, Executive Directors of the Company acquired ordinary shares of 10 pence each in the share capital of the Company ("Ordinary Shares"). The Ordinary Shares acquired by the Executive Directors have been treated as 'Investment Shares' under the Faroe Petroleum plc Co-Investment Plan ('FPCIP'), and the Remuneration Committee, which is comprised wholly of non-executive directors, has on 30 April 2018 made an award of conditional Matching Shares. The value of the Matching Shares is equivalent to the gross amount invested prior to the deduction of income tax at the participant's marginal rate together with any employee social security charge or other similar payroll deduction.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
(Disclosure in relation to purchase of shares and award of matching shares)
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Graham Duncan Stewart | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Faroe Petroleum plc | |
b) | LEI | 213800RE18GVZGNYB270 | |
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 | 21,353 Ordinary Shares of 10p each in Faroe Petroleum plc.
40,289 Matching Shares of 10p each in Faroe Petroleum plc. ISIN: GB0033032904 | |
b) | Nature of the transaction | (i) Purchase of Ordinary Shares (ii) Award of conditional Matching Shares | |
c) | Price(s) and volume(s)
| Price(s) | Volume(s) |
(i) 131.60p | 21,353 | ||
(ii) 131.80p | 40,289 | ||
d)
| Aggregated information
| 61,642 Ordinary Shares of 10p each in Faroe Petroleum plc. | |
e) | Date of the transaction | 27 and 30 April 2018 | |
f) | Place of the transaction | XLON | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Helge Ansgar Hammer | |
2 | Reason for the notification | ||
a) | Position/status | Chief Operating Officer | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Faroe Petroleum plc | |
b) | LEI | 213800RE18GVZGNYB270 | |
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 | 15,838 Ordinary Shares of 10p each in Faroe Petroleum plc.
29,659 Matching Shares of 10p each in Faroe Petroleum plc. ISIN: GB0033032904 | |
b) | Nature of the transaction | (i) Purchase of Ordinary Shares (ii) Award of conditional Matching Shares | |
c) | Price(s) and volume(s)
| Price(s) | Volume(s) |
(i) 131.60p | 15,838 | ||
(ii) 131.80p | 29,659 | ||
d)
| Aggregated information
| 45,497 Ordinary Shares of 10p each in Faroe Petroleum plc. | |
e) | Date of the transaction | 27 and 30 April 2018 | |
f) | Place of the transaction | XLON | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Jonathan Robert Cooper | |
2 | Reason for the notification | ||
a) | Position/status | Chief Financial Officer | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Faroe Petroleum plc | |
b) | LEI | 213800RE18GVZGNYB270 | |
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 | 14,418 Ordinary Shares of 10p each in Faroe Petroleum plc.
27,204 Matching Shares of 10p each in Faroe Petroleum plc. ISIN: GB0033032904 | |
b) | Nature of the transaction | (i) Purchase of Ordinary Shares (ii) Award of conditional Matching Shares | |
c) | Price(s) and volume(s)
| Price(s) | Volume(s) |
(i) 131.60p | 14,418 | ||
(ii) 131.80p | 27,204 | ||
d)
| Aggregated information
| 41,622 Ordinary Shares of 10p each in Faroe Petroleum plc. | |
e) | Date of the transaction | 27 and 30 April 2018 | |
f) | Place of the transaction | XLON | |
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 nil cost.
Director | No of Ordinary Shares of 10p each | No. of options over ordinary shares of 10p each |
Graham Duncan Stewart | 1,744,158 | 6,068,419 |
Helge Ansgar Hammer | 830,939 | 3,765,878 |
Jonathan Robert Cooper | 280,365 | 3,337,083 |
- Ends -
For further information please contact:
Faroe Petroleum plc Graham Stewart, CEO
|
Tel: +44 1224 650 920
|
Stifel Nicolaus Europe Limited Callum Stewart /Nicholas Rhodes/Ashton Clanfield
| Tel: +44 207 710 7600 |
BMO Capital Markets Neil Haycock / Tom Rider / Jeremy Low
| Tel: +44 207 236 1010 |
FTI Consulting Edward Westropp/Emerson Clarke
| Tel: +44 207 831 3113 |
The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.