3 Feb 2010 07:00
SeaEnergy PLC
("SeaEnergy" or the "Company")
Exercise of Share Options
3 February 2010
SeaEnergy announces that, following the exercise of 210,000 share options by two Executive Directors, it has allotted and issued, conditional upon admission to the AIM market, 210,000 new ordinary shares ("New Ordinary Shares") of 10p each.
The share options were granted under the Company Share Option Plan in July 2005 at a price of 34p per share.
The options were exercised as follows:
| SR Bertram | Managing Director | 150,000 |
| CG Moar | Finance Director | 60,000 |
Mr Moar sold 10,000 ordinary shares at 58 pence per share immediately following exercise.
Following these transactions the total holdings of the directors concerned are as follows:
|
|
| Ordinary Shares | % of Issued Share Capital |
Options |
| SR Bertram |
| 740,600 | 1.08 | 384,750 |
| CG Moar |
| 102,616 | 0.15 | 308,400 |
An application will be made for the New Ordinary Shares to be admitted to AIM and it is expected that dealings will commence on 9 February 2010.
Following the above share issue, there will be 68,448,279 ordinary shares of 10p each in SeaEnergy in issue.
For further information contact:
SeaEnergy PLC +44 1224 748480
Chris Moar - Finance Director
Ambrian Partners Limited - NOMAD +44 207 634 4700
Andrew Craig, Richard Swindells
Kreab Gavin Anderson +44 20 7074 1800
Ken Cronin, Kate Hill, Charlotte Reeve
www.seaenergy-plc.com
NOTES TO EDITORS
SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world's first deep water wind farm development - the Beatrice offshore wind farm (10MW) (the "Beatrice Project") which is owned and operated by Talisman Energy. The Beatrice Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SeaEnergy Renewable team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.
Prior to the UK Round 3 award SeaEnergy had secured a 25% interest in two unrelated joint ventures to develop offshore wind farms in the UK with a total capacity of over 1800MW with partners Scottish & Southern Energy (Airtricity) and RWE AG (npower). The recent award of UK Round 3 of Zone 1 with partners EDPR takes SeaEnergy's net capacity in the UK to over 780MW, SeaEnergy has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation, the first project of which provides a minimum capacity net to SeaEnergy of 150MW giving a total worldwide capacity net to SeaEnergy of over 930 MW.