Director/PDMR Shareholding

RNS Number : 0495C

Genel Energy PLC

11 March 2014

 

11 March 2014

Genel Energy Plc (the Company)

Notification of transactions by Persons Discharging Managerial Responsibilities (PDMR's) and Conversion of Suspended Voting Ordinary Shares to Voting Ordinary Shares

Pursuant to the notification obligations under the Disclosure and Transparency Rule 3.1.4R, the Company announces that, on 10 March 2014, Mehmet Sepil, through his interest in Elysion Holding B.V., sold 2,170,000 voting ordinary shares in the Company.  The shares were sold for his personal financial planning purposes. 

Following this disposal to third party purchasers who are not Affiliates (as such term is defined in the statement of rights attaching those shares), the Company has converted 3,100,000 Suspended Voting Ordinary Shares, in accordance with their terms, into 3,100,000 Voting Ordinary Shares, each of which will rank pari passu with the existing Voting Ordinary Shares.

Following the disposal and subsequent conversion, Mehmet Sepil and Murat Yazici (who holds an indirect interest in the Company through Elysion holdings of 2.34%) have the following beneficial interests in the Company:

	Number of Voting Ordinary Shares	% of Total	Number of Suspended Voting Ordinary Shares	% of Total	Total Number of Ordinary Shares	% of Total
Mehmet Sepil	28,793,400	11.96	5,023,035	12.74	33,816,435	12.07
Murat Yazici	720,143	0.30	306,370	0.78	1,026,513	0.37

For further information please contact:

Sarah Robertson, Company Secretary

Phil Corbett, Head of Investor Relations

Genel Energy plc

[phone]

Notes on voting rights

The Suspended Voting Ordinary Shares were issued to the selling shareholders of Genel Energy International Limited in consideration for its merger with the Company in November 2011 so as to ensure that such selling shareholders and their affiliates' aggregate holding of Voting Ordinary Shares did not and does not exceed 30%.

In total, the Voting Ordinary Share capital of the Company has increased by 3,100,000 Voting Ordinary Shares to 240,824,182 Voting Ordinary Shares.

Applications will be made to the UK Listing Authority for 3,100,000 Voting Ordinary Shares to be admitted to the standard listing segment of the Official List of the UK Listing Authority, and to the London Stock Exchange plc for the same 3,100,000 Voting Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (Admission). It is expected that the Admission will become effective, and that dealings in such shares will commence, at 8.00 a.m. on or around 17 March 2014.

Following the Admission on 17 March 2014 the total number of Ordinary Shares will be 280,248,198 (of which 240,824,182 will be Voting Ordinary Shares and 39,424,016 will be Suspended Voting Ordinary Shares).

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of, any securities. The securities of the Company referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless they are registered with the U.S. Securities and Exchange Commission or an exemption from the registration requirements of the Securities Act is available. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions. 

 

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