Share re-org / Director Hldng

22 May 2006 10:29

Westmount Energy Limited22 May 2006 ------------------------------------------------------------------------------------- WESTMOUNT ENERGY LIMITED COMPLETION OF SHARE CAPITAL RE-ORGANISATION CHANGE IN DIRECTOR'S SHAREHOLDING The Chairman, Mr Derek G. Williams, of Westmount Energy Limited ("the Company")was pleased to announce today, that the Share Capital Re-organisation of theCompany, approved at the Extraordinary General Meeting held on 22 December 2005has been fully implemented. Capital of the equivalent of 50p per 10p Ordinary Share totalling approximately£7,500,000 has been returned to shareholders and shareholders have also receivedone Consolidated Ordinary Share of 20p for every two Ordinary Shares of 10pheld. The total sum of £5,836,679 was returned to shareholders on 31 January 2006 andthe balance of £1,670,001.50 was returned on 1 May 2006 to those shareholderselecting for a later repayment date. There are now 7,506,680 20p Ordinary Shares in issue traded on AIM held byapproximately 1,500 shareholders. There are also Share Options outstanding over750,000 20p Ordinary Shares, exercisable at a subscription price of 103.5p pershare, over various periods expiring 31 December 2012. The shareholdings of the Directors of the Company and their outstanding ShareOptions are now as follows: ----------- ----------- ---------- Number of 20p % of 20p Number of Ordinary Shares Ordinary Shares Share Options in Issue ----------- ----------- ---------- Derek G. Williams *1,005,939 13.40 150,000Peter J. Richardson 139,988 1.86 150,000Marc S.D. Yates 139,988 1.86 150,000Paul R. Anderson - - 150,000 ----------- ----------- ---------- 1,285,915 17.12 600,000 ----------- ----------- ---------- * Following the sale of 162,500 ordinary shares to a family trust on 19 May 2006 at 137p per share this number now includes 750,939 shares held non-beneficially. Note for Editors: Westmount Energy Limited ("Westmount") is a Jersey based AIM quoted EnergyInvestment Company. Its present investments include, 30,000,000 shares of AIMquoted Sterling Energy plc, 5,500,000 shares of AIM quoted Desire Petroleum plc,a £500,000 convertible loan of AIM quoted CDS Oil & Gas Group plc and 244,000shares of presently unquoted Eclipse Energy Company Limited. Westmount has noborrowings. Contacts: Paul R. Anderson,Westmount Energy Limited Tel: 01534 814209 Gavin J. Burnell,Ruegg & Co. Limited Tel: 020 7584 3663 ENDS This information is provided by RNS The company news service from the London Stock Exchange