Source - RNS
RNS Number : 5656L
Faroe Petroleum PLC
03 October 2016
 

3 October 2016

 

Faroe Petroleum plc

 

("Faroe Petroleum" or the "Company")

 

Quarterly notification of Directors' Interests and conditional award of shares

 

Graham Stewart (Chief Executive), Jonathan Cooper (Chief Financial Officer) and Helge Hammer (Chief Operating Officer), have notified the Company that on 30 September 2016 they acquired the following ordinary shares of 10p each in the Company ('Partnership Shares') and have been awarded the following conditional shares ('Matching Shares') under the Faroe Petroleum Share Investment Plan (the "SIP") at a price of 72 pence each:


Partnership Shares

(no.)

 Purchase price  

Matching Shares (no.)

 Purchase price 

Graham Stewart

520

£0.72

1,040

£0.72

Jonathan Cooper

520

£0.72

                            1,040

£0.72

Helge Hammer

584

£0.72

1,168

£0.72






The SIP is open to all employees on the same terms where, for every share purchased by an employee the Company will match it with two matching shares.  The matching shares are released at the end of a three year holding period (subject to the SIP rules) and the maximum amount that may be invested in Partnership Shares in any tax year is £1,500 per employee. Graham Stewart, Jonathan Cooper and Helge Hammer have committed to invest the maximum of £1,500/year (noting that Mr Hammer, being resident in Norway, has committed to the SIP in Norwegian Krona and as such the Sterling investment varies slightly from quarter to quarter).

 

At present market purchase shares are being used to satisfy the matching shares.

 

Following this transaction the directors hold the following ordinary shares of 10 pence each in the Company, together with options over the same (including matching shares) exercisable at various prices up to 127.5 pence, as follows:

 

Name

No of Ordinary Shares

of 10p each

No. of options over

ordinary shares of 10p each




Graham Stewart*

1,026,348

6,624,505

Jonathan Cooper**

202,027

2,965,715

Helge Hammer***

545,573

3,762,708

John Bentley

172,270

-

Timothy Read

160,000

-

Roger Witts

83,331

43,168

Jorunn Saetre

28,571

-

 

* shareholding includes 550 shares awarded following the vesting of SIP matching shares between 01.07.16 and 30.09.16 with an equal and opposite movement in the options total.

** shareholding includes 550 shares awarded following the vesting of SIP matching shares between 01.07.16 and 30.09.16 with an equal and opposite movement in the options total.

*** shareholding includes 508 shares awarded following the vesting of SIP matching shares between 01.07.16 and 30.09.16 with an equal and opposite movement in the options total.

 

 

 

- Ends -

 

For further information please contact:

 

Faroe Petroleum plc

Graham Stewart, CEO

 

 

Tel: +44 1224 650 920

 

Stifel Nicolaus Europe Limited

Callum Stewart /Ashton Clanfield/

Nicholas Rhodes

 

Tel: +44 20 7710 7600

RBC Capital Markets

Matthew Coakes/Roland Symonds

 

Tel: +44 20 7653 4000

FTI Consulting

Edward Westropp/Tom Hufton

 

Tel: +44 20 7831 3113

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DSHQXLFBQBFZFBD

Related Charts

Faroe Petroleum (FPM)

+0.25p (+0.30%)
delayed 18:15PM