Information  X 
Enter a valid email address

Faroe Petroleum PLC (FPM)

  Print      Mail a friend       Annual reports

Tuesday 28 June, 2011

Faroe Petroleum PLC

Notification of Director's Interests and condit...

28 June 2011
Faroe Petroleum plc

                      ("Faroe Petroleum" or the "Company")

      Notification of Director's Interests and conditional award of shares

Graham  Stewart (Chief  Executive), Iain  Lanaghan (Finance  Director) and Helge
Hammer  (Chief Operating  Officer), have  notified the  Company that  on 27 June
2011 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 £1.568 each:

               Partnership Shares  Purchase price       Matching  Purchase price
                            (no.)                   Shares (no.)

Graham Stewart                 79          £1.568            158          £1.568

Iain Lanaghan                  79          £1.568            158          £1.568

Helge Hammer                   80          £1.568            160          £1.568

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, Iain
Lanaghan  and Helge  Hammer have  committed to  invest the maximum of £125/month
(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 month
to month).

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

Following  this transaction Graham Stewart, Iain  Lanaghan and Helge Hammer 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 186.25 pence, as follows:

                  No of Ordinary Shares       No. of options over
 Name                  of 10p each        ordinary shares of 10p each

 Graham Stewart          228,255                   5,504,604

 Iain Lanaghan            77,898                   1,985,519

 Helge Hammer            139,998                   2,728,194

Graham  Stewart also holds  an option to  acquire 84,547 ordinary shares under a
Long Term Incentive Plan exercisable at the nominal price of 10 pence per share.

                                    - Ends -

For further information please contact:
 Faroe Petroleum plc              Tel: +44 1224 650 920
 Graham Stewart

 Panmure Gordon (UK) Limited      Tel: +44 20 7459 3600
 Katherine Roe/Callum Stewart

 Oriel Securities Limited         Tel: +44 20 7710 7600
 Michael Shaw/ Ashton Clanfield

 Financial Dynamics               Tel: +44 20 7831 3113
 Billy Clegg/Edward Westropp

This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
Source: Faroe Petroleum PLC via Thomson Reuters ONE