Exercise of Option

RNS Number : 8058Q

Sterling Energy PLC

09 November 2012

 

9 November 2012

Exercise of Option by Director under Sterling's Long Term Incentive Plan

Sterling Energy Plc ("Sterling" or the "Company") announces that Mr. Alastair Beardsall, Chairman of Sterling, has today exercised his option to acquire 562,500 Ordinary Shares of 40p each ("Ordinary Shares") in the Company at an exercise price of 40p per share.

Application has been made for the 562,500 new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). The new Ordinary Shares to be issued will rank pari passu with the Company's existing Ordinary Shares and dealing in the new Ordinary Shares is expected to commence on AIM on 16 November 2012.

After Admission the total issued share capital of the Company will be 220,053,020 Ordinary Shares.

Following the exercise of this option Mr. Beardsall holds an interest in 1,062,500 Ordinary Shares representing 0.5 per cent of the issued share capital of the Company.

Further information:
Sterling Energy Plc	([phone])
Alastair Beardsall, Chairman Angus MacAskill, Chief Executive Philip Frank, Exploration Director
Liberum Capital	([phone])
Simon Atkinson Tim Graham
Peel Hunt LLP	([phone])
Andy Crossley Richard Crichton

 

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