1 Dec 2009 11:18
1 December 2009
Fortune Oil PLC
("the Company" or "Fortune Oil")
Additional allotment of new shares to Employee Benefit Trust ("EBT")
Following the renewal of the Long Term Incentive Plan ("LTIP") for a period of 10 years at the Company's Annual General Meeting in June 2009 and in preparation for the LTIP coming into effect on 7 December 2009, the Board of Fortune Oil have allotted at par, subject to admission to listing, 37,000,000 new ordinary shares to the Trustees of the Company's EBT. Application has been made for the admission of the new shares to listing on the Official List and to trading on the main market of the London Stock Exchange Plc and the admission of such shares is expected to become effective on 7 December 2009.
The 37,000,000 new shares to be issued and allotted by the Company to the Trustees of the Company's EBT represent approximately 1.90% of the Company's existing issued share capital and approximately 1.86% of the Company's enlarged issued share capital after the allotment. The new shares will rank pari passu among themselves and with shares of the Company in issue.
Enquiries:
| Fortune Oil PLC John Pexton - Deputy Chief Executive
| Tel: 00 852 2583 3113 (Hong Kong) |
| Pelham Public Relations Archie Berens | Tel: 020 7337 1509 or 07802 442 486 |