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Solo Oil Plc (SOLO)

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Wednesday 08 August, 2018

Solo Oil Plc

Board Changes and Directors' Dealings

RNS Number : 1930X
Solo Oil Plc
08 August 2018
 

FOR IMMEDIATE RELEASE                                                                                       

              8 August 2018

 

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

SOLO OIL PLC

("Solo" or the "Company")

 

Board Changes

Directors' Dealings

 

Board Changes

 

Alastair Ferguson has now taken over as Non-Executive Chairman and Neil Ritson has retired as Executive Chairman and as a director of the Company and will assume the role of Technical Advisor.   

 

Dan Maling, previously the Company's Finance Director, will take on the role of Managing Director with immediate effect.

 

Alastair Ferguson commented:

'I am very pleased to have been appointed to the Board and to take up the role of Non-Executive Chairman at the AGM. I look forward to working with Dan as Managing Director to bring a strong commercial and business focus to the Board that will help drive the monetization of our portfolio of assets. 

On behalf of the Board I would like to thank Neil Ritson for his longstanding service and contributions to the company as both an Executive Director and Chairman and I look forward to working with him as a Technical Advisor.'

Directors Dealings

Further the announcements of 6 August 2018 relating to the issue and allotment of new ordinary shares pursuant to the firm and conditional placing ,  and to the issue and allotment of ordinary shares to be issued to Directors in lieu of fees, Directors'  holdings are as follows:

 

Director or former Director

Existing holding of shares

Existing Options

Total placing shares

Fee shares

Total number of shares

% of issued share capital

Alastair Ferguson

5,714,286

-

6,666,667

-

12,380,953

2.13%

Jon Fitzpatrick

16,833,777

2,500,000

1,822,222

2,960,000

24,115,999

4.16%

Neil Ritson

4,650,000

5,200,000

-

2,548,889

12,398,889

2.14%

Dan Maling

-

3,250,000

-

7,110,847

10,360,847

1.78%

Don Strang

-

2,000,000

-

1,891,111

3,891,111

0.67%

 

 

For further information:

 

Solo Oil plc

Dan Maling

+44 (0) 20 7440 0642

 

 

Beaumont Cornish Limited

Nominated Adviser and Joint Broker

Roland Cornish/Rosalind Abrahams/Felicity Geidt

+44 (0) 20 7628 3396

 

Shore Capital

Joint Broker

Jerry Keen

 

Buchanan (PR)

Ben Romney / Chris Judd / Henry Wilson

 

+44 (0) 20 7408 4090

 

 

 

+44 (0) 20 7466 5000

 

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,

 

Neil Ritson

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Neil Ritson

2

Reason for notification

a)

Position / status

Former Director

 

b)

Initial notification

/Amendment

Initial

3

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

a)

Name

Solo Oil plc

 

b)

LEI

213800Z1HYXM02FSDM70

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

 

Identification code

Ordinary shares of 0.20 pence each in Solo Oil plc

 

 

ISIN GB00BFIBK408

 


Nature of the transaction

Issue of ordinary shares as fee

 

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

2.23p

2,548,889

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

6 August 2018

f)

Place of the transaction

Off market

 

Alastair Ferguson

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Alastair Ferguson

2

Reason for notification

a)

Position / status

Director

 

b)

Initial notification

/Amendment

Initial

3

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

a)

Name

Solo Oil plc

 

b)

LEI

213800Z1HYXM02FSDM70

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

 

Identification code

Ordinary shares of 0.20 pence each in Solo Oil plc

 

 

ISIN GB00BFIBK408

 


Nature of the transaction

Purchase of shares under placing

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

2.25p

6,666,667

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

6 August 2018

f)

Place of the transaction

Off market

 

Jon Fitzpatrick

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Jon Fitzpatrick

2

Reason for notification

a)

Position / status

Director

 

b)

Initial notification

/Amendment

Initial

3

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

a)

Name

Solo Oil plc

 

b)

LEI

213800Z1HYXM02FSDM70

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

 

Identification code

Ordinary shares of 0.20 pence each in Solo Oil plc

 

 

ISIN GB00BFIBK408

 


Nature of the transaction

-     Issue of ordinary shares as fee

-     Purchase of shares under placing

 

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

2.23p

2,960,000

2.25p

1,822,222

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

6 August 2018

f)

Place of the transaction

Off market

 

Dan Maling

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Dan Mailing

2

Reason for notification

a)

Position / status

Director

 

b)

Initial notification

/Amendment

Initial

3

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

a)

Name

Solo Oil plc

 

b)

LEI

213800Z1HYXM02FSDM70

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

 

Identification code

Ordinary shares of 0.20 pence each in Solo Oil plc

 

 

ISIN GB00BFIBK408

 


Nature of the transaction

Issue of ordinary shares as fee

 

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

2.23p

7,110,847

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

6 August 2018

f)

Place of the transaction

Off market

 

Don Strang

1

Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Don Strang

2

Reason for notification

a)

Position / status

Director

 

b)

Initial notification

/Amendment

Initial

3

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

a)

Name

Solo Oil plc

 

b)

LEI

213800Z1HYXM02FSDM70

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

 

Identification code

Ordinary shares of 0.20 pence each in Solo Oil plc

 

 

ISIN GB00BFIBK408

 


Nature of the transaction

Issue of ordinary shares as fee

 

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

2.23p

1,891,111

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

6 August 2018

f)

Place of the transaction

Off market

 

 


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