14 Sep 2018 10:56
FOR IMMEDIATE RELEASE
14 September 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.
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")
Directors' Dealings and PDMR Notifications
All capitalised terms in this announcement have the same meanings as those given to them in the Circular posted by the Company on 15 August 2018, unless the context otherwise requires.
Directors' Dealings
As described in the announcement dated 13 September 2018, the Company has undertaken an open offer involving the issue of an aggregate total of 52,439,328 New Ordinary Shares of 0.2 pence each in the Company and raising approximately £1.2 million.
The Company reports that the Directors applied to participate in the Open Offer, as set out in the table below. Directors participation totalled 11,777,086 shares (£264,884) representing 22.5% of the open offer.
Director | Existing holding of shares | Existing Options | Total Open Offer Shares applied for under Basic Entitlement | Total Open Offer Shares applied for under Excess Application Facility | Total number of Open Offer Shares subscribed for (separate to Basic Entitlement or Excess Application Facility) | Total number of Ordinary Shares held | % of issued share capital |
Alastair Ferguson | 12,380,953 | - | 634,921 | - | 3,809,523 | 16,825,397 | 2.66% |
Daniel Maling | 7,110,847 | 3,250,000 | - | - | 790,000 | 11,150,847 | 1.77% |
Jon Fitzpatrick | 21,666,001* | 2,500,000 | 1,875,975 | 2,666,667 | - | 28,708,641 | 4.54% |
Donald Strang | 1,891,111 | 2,000,000 | - | - | 2,000,000 | 5,891,111 | 0.93% |
* includes indirect interest of 916,624 shares held by Carolyn Fitzpatrick | |||||||
For further information:
Solo Oil plc Dan Maling | +44 (0) 20 7440 0642 |
Beaumont Cornish Limited Nominated Adviser Roland Cornish/Rosalind Abrahams/Felicity Geidt | +44 (0) 20 7628 3396 |
Shore Capital 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 MAR
Alasdair 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
|
b) | Nature of the transaction | Purchase of shares
|
c) | Price(s) and volumes(s) | Price: 2.25 pence per share Volume: 4,444,444 shares |
d) | Aggregated information | n/a |
e) | Date of the transactions | 13 September 2018 |
f) | Place of the transactions | London |
Daniel Maling
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Daniel Maling |
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
|
b) | Nature of the transaction | Purchase of shares
|
c) | Price(s) and volumes(s) | Price: 2.25 pence per share Volume: 790,000 shares |
d) | Aggregated information | n/a |
e) | Date of the transactions | 13 September 2018 |
f) | Place of the transactions | London |
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
|
b) | Nature of the transaction | Purchase of shares
|
c) | Price(s) and volumes(s) | Price: 2.25 pence per share Volume: 4,542,642 |
d) | Aggregated information | n/a |
e) | Date of the transactions | 13 September 2018 |
f) | Place of the transactions | London |
Donald Strang
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Donald 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
|
b) | Nature of the transaction | Purchase of shares
|
c) | Price(s) and volumes(s) | Price: 2.25 pence per share Volume: 2,000,000 shares |
d) | Aggregated information | n/a |
e) | Date of the transactions | 13 September 2018 |
f) | Place of the transactions | London |