11 Apr 2017 07:00
11 April 2017
Great Eastern Energy Corporation Limited
("Great Eastern" or "the Company")
Directors' Dealing - Correction
The announcement with the headline "Director's Dealing" released at 4.34 pm on 10 April 2017 was incorrect and is therefore retracted and replaced by this announcement.
The Company announces that Mr. Yogendra Kr. Modi, Executive Chairman, and Mr. Prashant Modi, Managing Director & CEO, purchased through YKM Holdings International Ltd., 735,216 GDRs at 27p each on 7 April 2017 in the Company (1 GDR represents 0.5 underlying ordinary share of INR 10 each). The Company was notified on 7 April 2017.
Following this purchase, they have a beneficial interest of 74,326,554 implied GDRs (42,955,000 GDRs and 15,685,777 ordinary shares) in the Company, representing approximately 62.39% of the total issued share capital.
Notification and 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 | Yogendra Kr. Modi and Prashant Modi | ||||
2 | Reason for the notification | |||||
a) | Position/status | Executive Chairman, and Managing Director & CEO, respectively | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Great Eastern Energy Corporation Limited | ||||
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 | GDRs representing 0.5 underlying ordinary share of INR 10 each in Great Eastern Energy Corporation Limited
Identification code (ISIN) for Great Eastern Energy Corporation Limited ordinary shares: US39032T1060 | ||||
b) | Nature of the transaction | Purchase of shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
735,216 GDRs 27p average price | ||||
e) | Date of the transaction | 7 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, Main Market | ||||
About the Company:
A fully integrated Coal-Bed Methane (CBM) gas exploration, production, and development Company providing gas to the growing industrial region of West Bengal, India, from its Raniganj (South) CBM block, which covers 210 sq. km with 2.62 TCF of Gas-in-Place.
The Company's second asset is the Mannargudi block, which covers 667 sq. km with 0.98 TCF of Gas-in-Place.
For further information please visit www.geecl.com or contact:
Arden Partners
Steve Douglas | +44 20 7614 5900 |
Patrick Caulfield |