12 Mar 2018 07:21
12 March 2018
Great Eastern Energy Corporation Limited
("Great Eastern" or "the Company")
Directors' Dealing
The Company announces that Mr. Yogendra Kr. Modi, Executive Chairman, and Mr. Prashant Modi, Managing Director & CEO, purchased through YKM Holdings International Ltd., 75,000 GDRs at 75p each on 8 March 2018 in the Company (1 GDR represents 0.5 underlying ordinary share of INR 10 each). The Company was notified on 9 March 2018.
Following this purchase, they have a beneficial interest of 75,581,912 implied GDRs (43,030,000 GDRs and 16,275,956 ordinary shares) in the Company, representing approximately 63.45% 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 |
75,000 GDRs 75p average price | ||||
e) | Date of the transaction | 8 March 2018 | ||||
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 |
Paul Shackleton |