Last checked at 2 May 2018 07:00
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
Exercise of Warrants and Director/PDMR Shareholding
The Company announces that, following an exercise of warrants, at an exercise price of 7.5p, application has been made for 2,092,205 ordinary shares of no par value in the capital of the Company ("New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari-passu with existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on or around 8 May 2018.
As part of the above warrant exercise, a total of 1,525,000 warrants have been exercised by certain directors, the details of which are as follows:
Director | Existing Ordinary Shares held | New Ordinary Shares received | Resultant Ordinary Shares held | Percentage of enlarged issued share capital |
Gerry Walsh | 4,650,000 | 775,000 | 5,425,000 | 12.1% |
Dermot Corcoran | 4,500,000 | 750,000 | 5,250,000 | 11.7% |
Following admission of the New Ordinary Shares, the Company's issued ordinary share capital will comprise 44,825,520 ordinary shares, of which none are held in treasury. Therefore, the total number of ordinary shares with voting rights in Westmount following Admission will be 44,825,520, which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Westmount Energy Limited www.westmountenergy.com
David King, Director Tel: +44 (0) 1534 823133
Jane Vlahopoulou
Cenkos Securities plc (Nomad and Broker)
Nicholas Wells Tel: +44 (0) 20 7397 8900
Harry Hargreaves
1
| Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Gerry Walsh | |||
2 | Reason for the notification | ||||
a) | Position/status | Director | |||
b) | Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Westmount Energy Limited | |||
b) | LEI | 213800GJISWVBB5S3L84 | |||
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 | Warrants over Nil Par Value Ordinary Shares in the Company | |||
Identification code | ISIN: GB00B0S5KR31 | ||||
b) | Nature of the transaction | Exercise of warrants | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
7.5p | 775,000 | ||||
d) | Aggregated information | ||||
- Aggregated volume | 775,000 | ||||
- Price | £58,125.00 | ||||
e) | Date of the transaction | 30 April 2018 | |||
f) | Place of the transaction | Outside of trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Dermot Corcoran | |||
2 | Reason for the notification | ||||
a) | Position/status | Director | |||
b) | Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Westmount Energy Limited | |||
b) | LEI | 213800GJISWVBB5S3L84 | |||
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 | Warrants over Nil Par Value Ordinary Shares in the Company | |||
Identification code | ISIN: GB00B0S5KR31 | ||||
b) | Nature of the transaction | Exercise of warrants | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
7.5p | 750,000 | ||||
d) | Aggregated information | ||||
- Aggregated volume | 750,000 | ||||
- Price | £56,250.00 | ||||
e) | Date of the transaction | 1 May 2018 | |||
f) | Place of the transaction | Outside of trading venue | |||