Director/PDMR Shareholding

RNS Number : 6199Z

Nostra Terra Oil & Gas Company PLC

18 January 2011

 



NOSTRA TERRA OIL AND GAS COMPANY PLC

("Nostra Terra", "NTOG" or the "Company")

Directors' Dealing/Holdings in Company

Exercise of Warrants and Issue of Equity, Grant of Options

18 January 2011

Exercise of Warrants and Issue of Equity

The Company yesterday received notice that Mr Matt Lofgran, Chief Executive Officer of Nostra Terra, had exercised 62,500,000 Warrants to subscribe for new ordinary 0.1p shares ("New Ordinary Shares") in the Company at a price of 0.1p per share for a total consideration of £62,500 (the "Warrant Exercise").

As a result of the Warrant Exercise, Mr. Lofgran is now interested in a total of 62,500,000 ordinary shares in the Company, representing approximately 3.88 per cent. of the Company's issued ordinary share capital, as enlarged by the Warrant Exercise.

In addition, Mr Lofgran is interested in a further 15,000,000 ordinary shares, taking his total shareholding to 77,500,000 ordinary shares (approximately 4.81 per cent. of the Company's issued ordinary share capital, as enlarged by the Warrant Exercise) and in 217,842,506 Warrants to subscribe for ordinary shares at a price of 0.1p per share. These additional warrants have not yet vested and remain subject to the satisfaction of certain performance criteria.  Once vested, they are capable of exercise at any time, subject to any restrictions contained in the AIM Rules for Companies and the Company's Code on Dealings in Securities (amongst others), until 30 June 2012, subject to extension if the Company is then in a close period as defined in the AIM Rules.

Mr. Lofgran is subject to an orderly market agreement with the Company, under which he has agreed not to dispose of any ordinary shares in the Company before 6 July 2011 without the prior approval of the Company and its broker.

Following the Warrant Exercise, the Company's issued ordinary share capital will be 1,612,100,913 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the New Ordinary Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 21 January 2011.

Grant of Options

On 17 January 2011, the Company granted options to subscribe for 3,000,000 ordinary shares of 0.1p each to Mr Stephen Oakes, exerciseable at any time until 14 January 2014 (subject to extension if the Company is then in a close period) at a price of 0.37 pence per share, approximating to the average closing share price of NTOG over the 30 day period prior to grant.  Mr Oakes has no other options or warrants over NTOG ordinary shares and is interested in 14,166,666 NTOG ordinary shares, representing approximately 0.88 per cent. of the Company's issued ordinary share capital, as enlarged by the warrant exercise above.

For further information, visit www.ntog.co.uk or contact:

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

[e-mail]                                                               Telephone: [phone]

Religare Capital Markets

Peter Trevelyan-Clark/Ben Jeynes                                          Telephone: [phone]

Alexander David Securities Ltd

David Scott/Bill Sharp/Nick Bealer                                         Telephone: [phone]

Announcements made by the Company are available automatically by email to those who register at www.ntog.co.uk.

 

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