8 Aug 2018 10:13
FOR IMMEDIATE RELEASE
8 August 2018
The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
SOLO OIL PLC
("Solo" or the "Company")
Board Changes
Directors' Dealings
Board Changes
Alastair Ferguson has now taken over as Non-Executive Chairman and Neil Ritson has retired as Executive Chairman and as a director of the Company and will assume the role of Technical Advisor.
Dan Maling, previously the Company's Finance Director, will take on the role of Managing Director with immediate effect.
Alastair Ferguson commented:
'I am very pleased to have been appointed to the Board and to take up the role of Non-Executive Chairman at the AGM. I look forward to working with Dan as Managing Director to bring a strong commercial and business focus to the Board that will help drive the monetization of our portfolio of assets.
On behalf of the Board I would like to thank Neil Ritson for his longstanding service and contributions to the company as both an Executive Director and Chairman and I look forward to working with him as a Technical Advisor.'
Directors Dealings
Further the announcements of 6 August 2018 relating to the issue and allotment of new ordinary shares pursuant to the firm and conditional placing , and to the issue and allotment of ordinary shares to be issued to Directors in lieu of fees, Directors' holdings are as follows:
Director or former Director | Existing holding of shares | Existing Options | Total placing shares | Fee shares | Total number of shares | % of issued share capital |
Alastair Ferguson | 5,714,286 | - | 6,666,667 | - | 12,380,953 | 2.13% |
Jon Fitzpatrick | 16,833,777 | 2,500,000 | 1,822,222 | 2,960,000 | 24,115,999 | 4.16% |
Neil Ritson | 4,650,000 | 5,200,000 | - | 2,548,889 | 12,398,889 | 2.14% |
Dan Maling | - | 3,250,000 | - | 7,110,847 | 10,360,847 | 1.78% |
Don Strang | - | 2,000,000 | - | 1,891,111 | 3,891,111 | 0.67% |
For further information:
Solo Oil plc Dan Maling | +44 (0) 20 7440 0642 |
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Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish/Rosalind Abrahams/Felicity Geidt | +44 (0) 20 7628 3396 |
Shore Capital Joint Broker Jerry Keen
Buchanan (PR) Ben Romney / Chris Judd / Henry Wilson |
+44 (0) 20 7408 4090
+44 (0) 20 7466 5000 |
The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,
Neil Ritson
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Neil Ritson | ||||
2 | Reason for notification | |||||
a) | Position / status | Former Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Solo Oil plc
| ||||
b) | LEI | 213800Z1HYXM02FSDM70 | ||||
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 | Ordinary shares of 0.20 pence each in Solo Oil plc
ISIN GB00BFIBK408
| ||||
Nature of the transaction | Issue of ordinary shares as fee
| |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||
Alastair Ferguson
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alastair Ferguson | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Solo Oil plc
| ||||
b) | LEI | 213800Z1HYXM02FSDM70 | ||||
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 | Ordinary shares of 0.20 pence each in Solo Oil plc
ISIN GB00BFIBK408
| ||||
Nature of the transaction | Purchase of shares under placing | |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||
Jon Fitzpatrick
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Jon Fitzpatrick | ||||||
2 | Reason for notification | |||||||
a) | Position / status | Director
| ||||||
b) | Initial notification /Amendment | Initial | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Solo Oil plc
| ||||||
b) | LEI | 213800Z1HYXM02FSDM70 | ||||||
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 | Ordinary shares of 0.20 pence each in Solo Oil plc
ISIN GB00BFIBK408
| ||||||
Nature of the transaction | - Issue of ordinary shares as fee - Purchase of shares under placing
| |||||||
c) | Price(s) and volumes(s) |
| ||||||
d) | Aggregated information | n/a | ||||||
e) | Date of the transaction | 6 August 2018 | ||||||
f) | Place of the transaction | Off market | ||||||
Dan Maling
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Dan Mailing | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Solo Oil plc
| ||||
b) | LEI | 213800Z1HYXM02FSDM70 | ||||
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 | Ordinary shares of 0.20 pence each in Solo Oil plc
ISIN GB00BFIBK408
| ||||
Nature of the transaction | Issue of ordinary shares as fee
| |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||
Don Strang
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Don Strang | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Solo Oil plc
| ||||
b) | LEI | 213800Z1HYXM02FSDM70 | ||||
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 | Ordinary shares of 0.20 pence each in Solo Oil plc
ISIN GB00BFIBK408
| ||||
Nature of the transaction | Issue of ordinary shares as fee
| |||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||