REG - Westmount Energy Ld - 2017-2018 Options Term Extension

Westmount EnergyAnnouncement

01/11/2019 12:30

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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