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