Onyx Spot Oil Regulatory News (OIL)

19 Dec 2008 16:41



Oilexco Incorporated

19 December 2008

GENERAL TEXT AMENDMENT

The following amendment has been made to the "NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS" announcement released on 8 December 2008 at 13:28 pm under RNS No 7200J:

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

William Fraser Grant: 108,000 shares (0.0483%) and 700,000 options (0.3127%)

All other details remain unchanged.

The full amended text is shown below.

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, 

PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required

by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction 

relating to the shares or debentures of the issuer should complete

boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating 

to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 

16, 23 and 24. 

(3) An issuer making a notification in respect of options granted to a 

director/person discharging managerial responsibilities should 

complete boxes 1 to 3 and 17 to 24. 

(4) An issuer making a notification in respect of a financial 

instrument relating to the shares of the issuer (other than a 

debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 

23 and 24. 

Please complete all relevant boxes in block capital letters.

1. Name of the issuer

Oilexco Incorporated

2. State whether the notification relates to (i) a transaction 

notified in accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 

(as extended by section 328) of the Companies Act 1985; or 

(iii) both (i) and (ii)

(i) ONLY

3. Name of person discharging managerial responsibilities/director

William Fraser Grant

Sheila Grant (spouse of William Fraser Grant)

4. State whether notification relates to a person connected with a person

discharging managerial responsibilities/director named in 3 and identify the connected person

NOT APPLICABLE

5. Indicate whether the notification is in respect of a holding of the person 

referred to in 3 or 4 above or in respect of a non-beneficial interest(3)

In respect of the holding of those in (3) above 

6. Description of shares (including class), debentures or derivatives or 

financial instruments relating to shares

Common shares of no par value

7. Name of registered shareholders(s) and, if more than one, the number of

shares held by each of them

As in (3) above

8. State the nature of the transaction

William Fraser Grant: Sale of Shares (Due to Margin Calls)

Sheila Grant: Sale of Shares (Due to Margin Calls)

9. Number of shares, debentures or financial instruments relating to shares acquired 

NOT APPLICABLE

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

NOT APPLICABLE

11. Number of shares, debentures or financial instruments relating to shares disposed

William Fraser Grant: 162,000 shares

Sheila Grant: 6,000 shares

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) 

William Fraser Grant: 0.0724%

Sheila Grant: 0.0027%

13. Price per share or value of transaction

William Fraser Grant:  Sale of Shares 162,000: CAD$ 285,819

Sheila Grant:  Sale of Shares 6,000: CAD$ 9,960

14. Date and place of transaction

William Fraser Grant:   Sale of Shares 162,000: 20th November in Canada

Sheila Grant:  Sale of Shares 6,000: 20th November in Canada

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

William Fraser Grant: 108,000 shares (0.0483%) and 700,000 options (0.3127%)

Sheila Grant: 33,500 shares (0.0150%) 

16. Date issuer informed of transaction

William Fraser Grant: Sale of Shares: 5th of December 2008

Sheila Grant:  Sale of Shares: 5th of December 2008

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant

18. Period during which or date on which it can be exercised

19. Total amount paid (if any) for grant of the option

20. Description of shares or debentures involved (class and number)

21. Exercise price (if fixed at time of grant) or indication that price is 

to be fixed at the time of exercise

22. Total number of shares or debentures over which options held following 

notification

23. Any additional information 

None 

24. Name of contact and telephone number for queries

Ed Dawson, 02077471504

Name and signature of duly authorised officer of issuer responsible for 

making notification

Art Millholland 

Date of notification 19th December 2008