12 Feb 2018 15:27
ORACLE POWER PLC
("Oracle" or the "Company" or the "Group")
ACQUIISTION OF SHARES BY A DIRECTOR
Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan announces that the Chairman of its Board of Directors Mr Mark Steed has today purchased 657,500 ordinary shares of the Company on the market, in two transactions, as follows :
· 650,000 shares at a price of 1.6 pence per share, and
· 7,500 shares at a price of 1.619 pence per share
Following these transactions, Mr Steed's beneficial interest in the Company stands at 1,000,000 ordinary shares, representing 0.0946% of the issued share capital of the Company.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| MARK STEED
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| CHAIRMAN OF BOARD OF DIRECTORS
| |||
b)
| Initial notification /Amendment
| INITIAL NOTIFICATION
| |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| ORACLE POWER PLC | |||
b)
| LEI | 213800KTG8HX1WBCAA49 | |||
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 | ORDINARY SHARES | |||
Identification code | 213800KTG8HX1WBCAA49 | ||||
b)
| Nature of the transaction | Purchase of shares | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
1.6 pence 1.619 pence | 650,000 7,500 |
| |||
d)
| Aggregated information | ||||
- Aggregated volume | Aggregate volume: 657,500 Aggregate price: 1.6002 pence Aggregate total: POUNDS STERLING 10,521.43 | ||||
- Price | |||||
e)
| Date of the transaction | 12 FEBRUARY 2018 | |||
f)
| Place of the transaction
| London Stock Exchange's AIM Market | |||
For further information please contact:
Oracle Power PLC Shahrukh Khan
| +44 (0) 203 580 4314 |
Brandon Hill Capital Limited Oliver Stansfield
| +44 (0)203 463 5000 |
Peterhouse Corporate Finance Charles Goodfellow
| +44 (0) 207 220 9791 |
Grant Thornton UK LLP Salmaan Khawaja, Richard Tonthat
| +44 (0) 207 383 5100 |
Blytheweigh Tim Blythe, Camilla Horsfall, Megan Ray
| +44 (0) 207 138 3204 |
Fortbridge Consulting Matt Beale, Bill Kemmery | +44 (0)7966 389196 |
Oracle Power (ORCP)