17 Mar 2014 12:04
SOCO International plc
("SOCO" or the "Company")
DIRECTORS/PDMR SHAREHOLDING
The Company announces an increase in Directors' shareholdings pursuant to the exercise of certain share awards ("Options").
On 14 March 2014, Ed Story, Chief Executive Officer of the Company, exercised Options over 202,007 SOCO International plc ordinary shares of £0.05 each ("Shares"), which vested on 10 December 2013.
The Board of Directors has determined that, in this instance, it serves the best interest of the Company and its shareholders, and in agreement with Mr Story, to deliver only the net number of Shares to Mr Story after deducting the number of Shares, being 84,742 Shares, that otherwise would be sold to settle the associated tax liabilities. The associated tax liabilities will therefore be settled by the Company and no shares will be sold.
Further details are shown below:
Date of original award | Options vested and exercised | Shares received |
10/12/10 | 202,007 | 117,265 |
Following this exercise, Mr Story is interested in a total of 13,191,131 Shares representing 3.98% of the voting rights of the Company and 989,225 Options. 11,516,131 of the Shares are held by Mr Story personally and 1,675,000 Shares are held by the Story Family Trust, a connected person to Mr Story.
[ENDS]
Contact:
Carol Fan
SOCO International plc
Tel 020 7747 2000
Pharos Energy (PHAR)