Exercise of Options

RNS Number : 0704E
88 Energy Limited
06 February 2018
 

88 Energy Limited

 

Exercise of Options

 

88 Energy Limited ("88E" or the "Company") confirms that it has issued a total of 64,719,441 fully paid ordinary shares in the Company (the "New Ordinary Shares") pursuant to the exercise of options (the "Options").

 

Application has been made for admission of the New Ordinary Shares to trading on AIM, which is expected to occur on 12 February 2018. Following the issue of the New Ordinary Shares, which rank pari passu to the existing ordinary shares in the Company, the Company has 4,713,183,373 ordinary shares in issue, all of which have voting rights.

 

The Company also announces that certain of the Options were exercised by directors of the Company on 6 February 2018, details of which are as follows:

 

Director

Number of Options Exercised

Exercise Price

Total number of Ordinary Shares held after Exercise of Options

% interest after Exercise of Options

Michael John Evans

8,000,000

$0.015

18,541,667

0.39%

2,125,000

$0.02

George Henry Stephen Staley

3,500,000

$0.015

10,141,667

0.22%

825,000

$0.02

David James Wall

18,500,000

$0.015

32,291,666

0.69%

1,375,000

$0.02

750,000

$0.02

Brent Villemarette

6,000,000

$0.015

7,221,222

0.15%

 

In addition, certain of the directors of the Company sold their interest in unlisted options held by them on 6 February 2018, details of which are as follows:

 

Director

Number of Options Sold

Sale Price

Description of Options

George Henry Stephen Staley

2,500,000

$0.011

Unlisted Options exercisable at $0.015 on or before 18 February 2018

David James Wall

6,500,000

$0.011

Unlisted Options exercisable at $0.015 on or before 18 February 2018

 

The direct and indirect interests of the directors of the Company after the exercise of Options and other transactions described above are now as follows:

 

Director

Total number of Ordinary Shares held

% interest

Total number of Options held

Michael John Evans

18,541,667

0.39%

8,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018

5,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020

George Henry Stephen Staley

10,141,667

0.22%

6,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018

David James Wall

32,291,666

0.69%

40,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018

20,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020

Brent Villemarette

7,221,222

0.15%

6,000,000 Unlisted Options exercisable at $0.021 on or before 1 November 2018

5,000,000 Unlisted Options exercisable at $0.06 on or before 14 March 2020

 

Media and Investor Relations:

 

88 Energy Ltd

Dave Wall, Managing Director                                                   Tel: +61 8 9485 0990

Email: admin@88energy.com

 

Finlay Thomson, Investor Relations                                        Tel: +44 7976 248471

 

Hartleys Ltd

Dale Bryan                                                                                          Tel: + 61 8 9268 2829

 

Cenkos Securities                                                                            Tel: + 44 131 220 6939

Neil McDonald/Derrick Lee

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michael John Evans

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

88 Energy Limited

b)

LEI

213800YFW5171TD69V35

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

AU00000088E2

b)

Nature of the Transaction

Exercise of Options

c)

Price(s) and volume(s)

Number of Options Exercised

Price

8,000,000

$0.015

2,125,000

$0.02

d)

Aggregated information

Aggregated volume Price

10,125,000 options exercised at an aggregate value of $162,500

e)

Date of the transaction

6 February 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:88E)

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

George Henry Stephen Staley

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

88 Energy Limited

b)

LEI

213800YFW5171TD69V35

4.(i)

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

AU00000088E2

b)

Nature of the Transaction

Exercise of Options

c)

Price(s) and volume(s)

Number of Options Exercised

Price

3,500,000

$0.015

825,000

 

$0.02

 

 

d)

Aggregated information

Aggregated volume Price

4,325,000 options exercised at an aggregate value of $69,000

 

e)

Date of the transaction

6 February 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:88E)

4.(ii)

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

AU00000088E2

b)

Nature of the Transaction

Sale of Options

c)

Price(s) and volume(s)

Number of Options Sold

2,500,000

Price

$0.011

 

 

 

 

d)

Aggregated information

Aggregated volume Price

2,500,000 Options sold at an aggregate value of $27,500

e)

Date of the transaction

6 February 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:88E)

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David James Wall

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

88 Energy Limited

b)

LEI

213800YFW5171TD69V35

4.(i)

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

AU00000088E2

b)

Nature of the Transaction

Exercise of Options

c)

Price(s) and volume(s)

Number of Options Exercised

Price

18,500,000

$0.015

1,375,000

$0.02

750,000

$0.02

d)

Aggregated information

Aggregated volume Price

20,625,000 options exercised at an aggregate value of $320,000

e)

Date of the transaction

6 February 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:88E)

4.(ii)

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

AU00000088E2

b)

Nature of the Transaction

Sale of Options

c)

Price(s) and volume(s)

Number of Options Sold

6,500,000

Price

$0.011

 

 

 

 

d)

Aggregated information

Aggregated volume Price

6,500,000 Options sold at an aggregate value of $71,500

e)

Date of the transaction

6 February 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:88E)

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Brent Villamarette

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

88 Energy Limited

b)

LEI

213800YFW5171TD69V35

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

AU00000088E2

b)

Nature of the Transaction

Exercise of Options

c)

Price(s) and volume(s)

Number of Options Exercised

Price

18,500,000

$0.015

1,375,000

$0.02

750,000

$0.02

d)

Aggregated information

Aggregated volume Price

20,625,000 options exercised at an aggregate value of $320,000

e)

Date of the transaction

6 February 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:88E)

 


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