24 Apr 2008 10:10
FOR IMMEDIATE RELEASE 23 April 2008
SIRIUS EXPLORATION PLC ("Sirius" or the "Company") ISSUE OF SHARES
The Company has issued, in respect of fees the following new Ordinary Shares of 0.25p each ("Ordinary Shares"):
Shareholder Number of Ordinary Shares Issued Pacific Corporate Management Limited 2,200,000 (1) Derek Charles William Stonley - 366,665 (director) Easy Business Consulting Limited (2) 1,200,000 Dr Nicholas Badham - (director) 1,920,000 Nibex Limited (3) 480,000 Professional Fees Jarvis Nominees Limited 1,400,000 Beaumont Cornish Limited 1,800,000 Cubitt Consulting Limited 2,125,292 Rivington Street Holdings 603,950 SP Angel & Company Limited 705,000 Vizards Tweedie LLP 2,000,000 Total 14,800,907
1. Pacific Corporate Management Limited is a consulting company. Mr Poulden is employed by Pacific Corporate
Management Limited. He has no interest direct or indirect in that company.
2. Mr Jonathan Harrison is a director and shareholder of Easy Business
Consulting Limited.
3. Dr Nicholas Badham is a director and shareholder of Nibex Limited.
All the above Ordinary Shares have been issued at a price of 2.5p per share being the opening bid price on 8 April 2008 following the lifting of the suspension in trading in the Company's shares on AIM.
The issue of a total of 6,166,665 new Ordinary Shares, representing 7.37% of the enlarged share capital of the Company, to the Directors and companies associated with the Directors is a related party transaction under the AIM Rules. Professor Michael Mainelli, the independent Director, having consulted with the Company's Nominated Adviser, considers that the terms of this transaction are fair and reasonable insofar as the shareholders are concerned.
Directors and substantial shareholders interests
Following the issue of the above shares, the position will be:
Name Beneficial % of the Non-beneficial % of the holding of enlarged holding of englarged Ordinary issued share Ordinary issued share Shares capital Shares capital Director's Richard Poulden 275,400 0.33 - - Dr Nicholas Badham 9,367,067 11.19 - - Jonathan Harrison 4,100,000 4.9 - - Dr Michael Mainelli Nil - - - Derek Stonley 366,665 0.44 - -
Substantial Shareholders St Cloud Capital S.A (4) 2,000,000 2.39 - - Ashton Nominees Inc (4) 7,340,002 8.77 - - Panther Executive 8,000,000 9.56 - - Pension Scheme (5) Easy Business Consulting 3,200,000 3.82 - - Limited (6) Phelps Dodge Exploration 3,690,000 4.41 - - Corporation Beaumont Cornish Limited 3,300,000 3.94 - - (7)
4. Ashton Nominees Inc holds 7,340,002 Ordinary Shares. The beneficial owner of these shares is the Malvern Trust,
a discretionary trust under which Mr Richard Poulden's family are potential beneficiaries. St Cloud Capital SA holds
2,000,000 Ordinary Shares. The beneficial owner of these shares is the Malvern Trust, a discretionary trust under
which Mr Richard Poulden's family are potential beneficiaries.
5. Panther Executive Pension Scheme is a pension scheme of which Mr Poulden is the beneficiary.
6. Easy Business Consulting Limited holds 3,200,000 Ordinary Shares. Mr Jonathan Harrison is a director and
shareholder of this company.
7. Including warrants to subscribe for 200,000 Ordinary Shares.
Application will be made for the 14,800,907 new Ordinary Shares, which will rank, pari passu, with all existing ordinary shares to be admitted to trading on AIM and trading of the new Ordinary Shares is expected to commence on 29 April 2008.
Following the above issue there will be 83,680,418 Ordinary Shares in issue.
A copy of this announcement is available on the Company's website: www.siriusexploration.com
Contact:
Richard Poulden, Sirius Exploration Plc on 01453 511900 or 07769 721512
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396.
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