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8 Aug 2018 10:13
FOR IMMEDIATE RELEASE
8 August 2018
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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.
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SOLO OIL PLC
("Solo" or the "Company")
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Board Changes
Directors' Dealings
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Board Changes
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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.
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Dan Maling, previously the Company's Finance Director, will take on the role of Managing Director with immediate effect.
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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.Ā
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:
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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% |
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For further information:
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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 |
Ā Shore Capital Joint Broker Jerry Keen Ā Buchanan (PR) Ben Romney / Chris Judd / Henry Wilson | Ā +44 (0) 20 7408 4090 Ā Ā Ā +44 (0) 20 7466 5000 |
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The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,
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Neil Ritson
1 | Details Ā of Ā the Ā person Ā discharging Ā managerial Ā responsibilities Ā / Ā person Ā closely associated | |||||
a) | Name | Neil Ritson | ||||
2 | Reason for notification | |||||
a) | Position / status | Former Director Ā | ||||
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 Ā | ||||
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 Ā of the financial instrument, type of instrument Ā Identification code | Ordinary shares of 0.20 pence each in Solo Oil plc Ā Ā ISIN GB00BFIBK408 Ā | ||||
Nature of the transaction | Issue of ordinary shares as fee Ā | |||||
c) | Price(s) and volumes(s) | Ā
Ā Ā | ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||
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Alastair Ferguson
1 | Details Ā of Ā the Ā person Ā discharging Ā managerial Ā responsibilities Ā / Ā person Ā closely associated | |||||
a) | Name | Alastair Ferguson | ||||
2 | Reason for notification | |||||
a) | Position / status | Director Ā | ||||
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 Ā | ||||
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 Ā of the financial instrument, type of instrument Ā Identification code | Ordinary shares of 0.20 pence each in Solo Oil plc Ā Ā ISIN GB00BFIBK408 Ā | ||||
Nature of the transaction | Purchase of shares under placing | |||||
c) | Price(s) and volumes(s) | Ā
Ā Ā | ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||
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Jon Fitzpatrick
1 | Details Ā of Ā the Ā person Ā discharging Ā managerial Ā responsibilities Ā / Ā person Ā closely associated | |||||||
a) | Name | Jon Fitzpatrick | ||||||
2 | Reason for notification | |||||||
a) | Position / status | Director Ā | ||||||
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 Ā | ||||||
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 Ā of the financial instrument, type of instrument Ā Identification code | Ordinary shares of 0.20 pence each in Solo Oil plc Ā Ā ISIN GB00BFIBK408 Ā | ||||||
Nature of the transaction | - Issue of ordinary shares as fee - Purchase of shares under placing Ā | |||||||
c) | Price(s) and volumes(s) | Ā
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d) | Aggregated information | n/a | ||||||
e) | Date of the transaction | 6 August 2018 | ||||||
f) | Place of the transaction | Off market | ||||||
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Dan Maling
1 | Details Ā of Ā the Ā person Ā discharging Ā managerial Ā responsibilities Ā / Ā person Ā closely associated | |||||
a) | Name | Dan Mailing | ||||
2 | Reason for notification | |||||
a) | Position / status | Director Ā | ||||
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 Ā | ||||
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 Ā of the financial instrument, type of instrument Ā Identification code | Ordinary shares of 0.20 pence each in Solo Oil plc Ā Ā ISIN GB00BFIBK408 Ā | ||||
Nature of the transaction | Issue of ordinary shares as fee Ā | |||||
c) | Price(s) and volumes(s) | Ā
Ā Ā | ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||
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Don Strang
1 | Details Ā of Ā the Ā person Ā discharging Ā managerial Ā responsibilities Ā / Ā person Ā closely associated | |||||
a) | Name | Don Strang | ||||
2 | Reason for notification | |||||
a) | Position / status | Director Ā | ||||
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 Ā | ||||
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 Ā of the financial instrument, type of instrument Ā Identification code | Ordinary shares of 0.20 pence each in Solo Oil plc Ā Ā ISIN GB00BFIBK408 Ā | ||||
Nature of the transaction | Issue of ordinary shares as fee Ā | |||||
c) | Price(s) and volumes(s) | Ā
Ā Ā | ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 6 August 2018 | ||||
f) | Place of the transaction | Off market | ||||
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