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Westmount Energy Ld (WTE)

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Friday 01 November, 2019

Westmount Energy Ld

2017-2018 Options Term Extension

RNS Number : 0194S
Westmount Energy Limited
01 November 2019
 

1 November 2019

 

Westmount Energy Limited

("Westmount" or the "Company")

 

2017-2018 Options Term Extension

 

Westmount Energy Limited (AIM:  WTE), the energy investment company, announces that the expiry date of the Company's 2017-2018 options, due to expire on 31 December 2019, has been extended to 31 December 2021.  The 2017-2018 options held by the directors are as follows:

 

Director

Share Options

Exercise Price

New Expiration Date

Gerard Walsh

Dermot Corcoran

Tom O'Gorman

David King

500,000

500,000

500,000

250,000

7.5p per share

7.5p per share

7.5p per share

7.5p per share

31 December 2021

31 December 2021

31 December 2021

31 December 2021

 

The Share Options may, at any time before expiry, be exercised in whole or in multiples of not less than 5,000 nil par value ordinary shares in the Company ("Ordinary Shares"). Ordinary Shares issued as a result of any such exercise may be sold (subject to applicable laws and AIM Rules) at any time including, but not limited to, a takeover or change of control of the Company.

 

Following the above grants, the Directors total beneficial interests in Ordinary Shares will be as follows:

 

Director

Ordinary Shares

Approx. % of

Share Capital

Share Options

Gerard Walsh

Dermot Corcoran

Tom O'Gorman

David King

11,933,565

5,250,000

4,650,000

-

10.9

4.8

4.2

-

1,000,000

1,000,000

750,000

500,000

 

In addition to the above, Mr Walsh holds £400,000 principal of 10% p.a. convertible unsecured loan notes 2021 in the Company.

 

 

For further information, please contact:

 

Westmount Energy Limited                                        www.westmountenergy.com

David King, Director                                                       Tel: +44 (0) 1534 823133

Jane Vlahopoulou                                                          

 

Cenkos Securities plc (Nomad and Broker)

Nicholas Wells                                                                  Tel: +44 (0) 20 7397 8900

Harry Hargreaves

 

 

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Gerard Walsh

2

Reason for the notification

a)

Position/status

Chairman

b)

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

Westmount Energy Limited

b)

LEI

213800GJISWVBB5S3L84

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

Options over ordinary shares of no par value

Identification code

ISIN: GB00B0S5KR31

b)

Nature of the transaction

Extension of option expiration date

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




-

500,000







d)

 

Aggregated information


- Aggregated volume

500,000

- Price

-

e)

Date of the transaction

1 November 2019

f)

Place of the transaction

Outside of trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Dermot Corcoran

2

Reason for the notification

a)

Position/status

Director

b)

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

Westmount Energy Limited

b)

LEI

213800GJISWVBB5S3L84

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

Options over ordinary shares of no par value

Identification code

ISIN: GB00B0S5KR31

b)

Nature of the transaction

Extension of option expiration date

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




-

500,000







d)

 

Aggregated information


- Aggregated volume

500,000

- Price

-

e)

Date of the transaction

1 November 2019

f)

Place of the transaction

Outside of trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Tom O'Gorman

2

Reason for the notification

a)

Position/status

Director

b)

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

Westmount Energy Limited

b)

LEI

213800GJISWVBB5S3L84

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

Options over ordinary shares of no par value

Identification code

ISIN: GB00B0S5KR31

b)

Nature of the transaction

Extension of option expiration date

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




-

500,000







d)

 

Aggregated information


- Aggregated volume

250,000

- Price

-

e)

Date of the transaction

1 November 2019

f)

Place of the transaction

Outside of trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David King

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

Westmount Energy Limited

b)

LEI

213800GJISWVBB5S3L84

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

Options over ordinary shares of no par value

Identification code

ISIN: GB00B0S5KR31

b)

Nature of the transaction

Extension of option expiration date

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




-

250,000







d)

 

Aggregated information


- Aggregated volume

250,000

- Price

-

e)

Date of the transaction

1 November 2019

f)

Place of the transaction

Outside of trading venue

 


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