REG - Westmount Energy Ld - Final Results <Origin Href="QuoteRef">WNRG.L</Origin> - Part 3

Westmount EnergyAnnouncement

25/11/2016 15:15

- Part 3: For the preceding part double click  ID:nRSY2182Qb 

                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                     402,716                           7,291                          
                                                                                                                                                                                                                                                                        
 Cash is                                                                                                                                                                                                                                                                
 held on                                                                                                                                                                                                                                                                
 fixed                                                                                                                                                                                                                                                                  
 deposit                                                                                                                                                                                                                                                                
 for a term                                                                                                                                                                                                                                                              
 of one                                                                                                                                                                                                                                                                 
 month.                                                                                                                                                                                                                                                                 
 Cash and                                                                                                                                                                                                                                                               
 cash                                                                                                                                                                                                                                                                   
 equivalent                                                                                                                                                                                                                                                              
 s are                                                                                                                                                                                                                                                                  
 considered                                                                                                                                                                                                                                                              
 to be                                                                                                                                                                                                                                                                  
 highly                                                                                                                                                                                                                                                                 
 liquid, so                                                                                                                                                                                                                                                              
 that book                                                                                                                                                                                                                                                              
 cost is                                                                                                                                                                                                                                                                
 considered                                                                                                                                                                                                                                                              
 equivalent                                                                                                                                                                                                                                                              
 to fair                                                                                                                                                                                                                                                                
 value.                                                                                                                                                                                                                                                                 
 8.                                                                                                                                                                                                                                                                                                                               
 TRADE AND                                                                                                                                                                                                                                                                                                                       
 OTHER                                                                                                                                                                                                                                                                                                                           
 PAYABLES                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                     2016                              2015                           
                                                                                                                                                                                                                                                                                                                     £                                 £                              
                                                                                                                                                                                                                                                                                                                                                                                      
 Accrued                                                                                                                                                                                                                                                                                                             31,387                            31,760                         
 expenses                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                                 
 9.                                                                                                                                                                                                                                                                     
 SHARE                                                                                                                                                                                                                                                                  
 CAPITAL                                                                                                                                                                                                                                                                
 2016 2015                                                                                                                                                                                                                                                              
 £ £                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                        
 Authorised                                                                                                                                                                                                                                                              
 :                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                        
 200,000,00                                                                                                                                                                                                                                                              
 0 (2015:                                                                                                                                                                                                                                                               
 200,000,00                                                                                                                                                                                                                                                              
 0) nil par                                                                                                                                                                                                                                                              
 ordinary                                                                                                                                                                                                                                                               
 shares                                                                                                                                                                                                                                                                 
 (2015: 20p                                                                                                                                                                                                                                                              
 each)  -                                                                                                                                                                                                                                                               
 40,000,000                                                                                                                                                                                                                                                              
  200,000,0                                                                                                                                                                                                                                                              
 00 (2015:                                                                                                                                                                                                                                                              
 200,000,00                                                                                                                                                                                                                                                              
 0)                                                                                                                                                                                                                                                                     
 redeemable                                                                                                                                                                                                                                                              
 "B" shares                                                                                                                                                                                                                                                              
 of nil par                                                                                                                                                                                                                                                              
 each                                                                                                                                                                                                                                                                   
 (2015: 1p                                                                                                                                                                                                                                                              
 each) -                                                                                                                                                                                                                                                                
 2,000,000                                                                                                                                                                                                                                                              
 Allotted,                                                                                                                                                                                                                                                              
 called                                                                                                                                                                                                                                                                  
         up                                                                                                                                                                                                                                                              
 and fully                                                                                                                                                                                                                                                              
 paid:                                                                                                                                                                                                                                                                  
 Ordinary                                                                                                                                                                                                                                                               
 shares                                                                                                                                                                                                                                                                 
 Ordinary                                                                                                                                                                                                                                                               
 shares No.                                                                                                                                                                                                                                                              
 £ 1 July                                                                                                                                                                                                                                                               
 2015                                                                                                                                                                                                                                                                   
 9,830,300                                                                                                                                                                                                                                                              
 1,966,060                                                                                                                                                                                                                                                              
 Additions                                                                                                                                                                                                                                                              
 12,740,035                                                                                                                                                                                                                                                              
 509,601                                                                                                                                                                                                                                                                
 Conversion                                                                                                                                                                                                                                                              
 of share                                                                                                                                                                                                                                                               
 premium                                                                                                                                                                                                                                                                
 account -                                                                                                                                                                                                                                                              
 551,560 At                                                                                                                                                                                                                                                              
 30 June                                                                                                                                                                                                                                                                
 2016                                                                                                                                                                                                                                                                   
 22,570,335                                                                                                                                                                                                                                                              
 3,027,221                                                                                                                                                                                                                                                              
 On 14                                                                                                                                                                                                                                                                  
 December                                                                                                                                                                                                                                                               
 2015, the                                                                                                                                                                                                                                                              
 Company                                                                                                                                                                                                                                                                
 raised                                                                                                                                                                                                                                                                 
 further                                                                                                                                                                                                                                                                
 capital in                                                                                                                                                                                                                                                              
 the form                                                                                                                                                                                                                                                               
 of a                                                                                                                                                                                                                                                                   
 subscripti                                                                                                                                                                                                                                                              
 on in                                                                                                                                                                                                                                                                  
 conjunctio                                                                                                                                                                                                                                                              
 n with an                                                                                                                                                                                                                                                              
 open                                                                                                                                                                                                                                                                   
 offer. The                                                                                                                                                                                                                                                              
 Subscripti                                                                                                                                                                                                                                                              
 on raised                                                                                                                                                                                                                                                              
 £240,000                                                                                                                                                                                                                                                               
 before                                                                                                                                                                                                                                                                 
 expenses                                                                                                                                                                                                                                                               
 with                                                                                                                                                                                                                                                                   
 6,000,000                                                                                                                                                                                                                                                              
 ordinary                                                                                                                                                                                                                                                               
 shares at                                                                                                                                                                                                                                                              
 4 pence                                                                                                                                                                                                                                                                
 per share.                                                                                                                                                                                                                                                              
 The open                                                                                                                                                                                                                                                               
 offer                                                                                                                                                                                                                                                                  
 raised                                                                                                                                                                                                                                                                 
 £269,601                                                                                                                                                                                                                                                               
 before                                                                                                                                                                                                                                                                 
 expenses                                                                                                                                                                                                                                                               
 with                                                                                                                                                                                                                                                                   
 6,740,035                                                                                                                                                                                                                                                              
 ordinary                                                                                                                                                                                                                                                               
 shares at                                                                                                                                                                                                                                                              
 4 pence                                                                                                                                                                                                                                                                
 per share.                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                         
   There                                                                                                                                                                                                                                                                
 were no                                                                                                                                                                                                                                                                
 redemption                                                                                                                                                                                                                                                              
 s of share                                                                                                                                                                                                                                                              
 issues                                                                                                                                                                                                                                                                 
 during the                                                                                                                                                                                                                                                              
 year ended                                                                                                                                                                                                                                                              
 30 June                                                                                                                                                                                                                                                                
 2016.                                                                                                                                                                                                                                                                  
 10.                                                                                                                                                                                                                                                                     
 SHARE                                                                                                                                                                                                                                                                  
 PREMIUM                                                                                                                                                                                                                                                                
 AND SHARE                                                                                                                                                                                                                                                              
 OPTIONS                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                 Share PremiumAccount           Share option Account    
                                                                                                                                                                                                                                                                                                                                 £                              £                       
 1 July                                                                                                                                                                                                                                                                                            551,560           349,906                           
 2015                                                                                                                                                                                                                                                                                                                                                  
 Conversion                                                                                                                                                                                                                                                              (551,560)                  -                 
 to Nil Par                                                                                                                                                                                                                                                                                                           
 value                                                                                                                                                                                                                                                                                                               
 shares                                                                                                                                                                                                                                                                                                              
 At 30 June                                                                                                                                                                                                                                                                                                                       -                              349,906                 
 2016                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                        
 On 22                                                                                                                                                                                                                                                                  
 September                                                                                                                                                                                                                                                              
 2009 the                                                                                                                                                                                                                                                               
 Company                                                                                                                                                                                                                                                                
 granted                                                                                                                                                                                                                                                                
 250,000                                                                                                                                                                                                                                                                
 share                                                                                                                                                                                                                                                                  
 options at                                                                                                                                                                                                                                                              
 a weighted                                                                                                                                                                                                                                                              
 average                                                                                                                                                                                                                                                                
 exercise                                                                                                                                                                                                                                                               
 price of                                                                                                                                                                                                                                                               
 62p per                                                                                                                                                                                                                                                                
 share. In                                                                                                                                                                                                                                                              
 2011 the                                                                                                                                                                                                                                                               
 terms of                                                                                                                                                                                                                                                               
 the                                                                                                                                                                                                                                                                    
 options                                                                                                                                                                                                                                                                
 were                                                                                                                                                                                                                                                                   
 changed,                                                                                                                                                                                                                                                               
 to give a                                                                                                                                                                                                                                                              
 weighted                                                                                                                                                                                                                                                               
 average                                                                                                                                                                                                                                                                
 exercise                                                                                                                                                                                                                                                               
 price of                                                                                                                                                                                                                                                               
 17p per                                                                                                                                                                                                                                                                
 share. In                                                                                                                                                                                                                                                              
 2012 this                                                                                                                                                                                                                                                              
 was                                                                                                                                                                                                                                                                    
 changed to                                                                                                                                                                                                                                                              
 20p per                                                                                                                                                                                                                                                                
 share. On                                                                                                                                                                                                                                                              
 5 December                                                                                                                                                                                                                                                              
 2011 the                                                                                                                                                                                                                                                               
 Company                                                                                                                                                                                                                                                                
 granted                                                                                                                                                                                                                                                                
 1,500,000                                                                                                                                                                                                                                                              
 share                                                                                                                                                                                                                                                                  
 options at                                                                                                                                                                                                                                                              
 a weighted                                                                                                                                                                                                                                                              
 average                                                                                                                                                                                                                                                                
 exercise                                                                                                                                                                                                                                                               
 price of                                                                                                                                                                                                                                                               
 20p per                                                                                                                                                                                                                                                                
 share. The                                                                                                                                                                                                                                                              
 fair value                                                                                                                                                                                                                                                              
 of those                                                                                                                                                                                                                                                               
 options                                                                                                                                                                                                                                                                
 granted,                                                                                                                                                                                                                                                               
 after                                                                                                                                                                                                                                                                  
 adjusting                                                                                                                                                                                                                                                              
 for the                                                                                                                                                                                                                                                                
 changes in                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 exercise                                                                                                                                                                                                                                                               
 price, was                                                                                                                                                                                                                                                              
 £184,590                                                                                                                                                                                                                                                               
 using the                                                                                                                                                                                                                                                              
 Black                                                                                                                                                                                                                                                                  
 Scholes                                                                                                                                                                                                                                                                
 valuation                                                                                                                                                                                                                                                              
 model.                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                        
 As at 30                                                                                                                                                                                                                                                               
 June 2016,                                                                                                                                                                                                                                                              
 options                                                                                                                                 

- More to follow, for following part double click  ID:nRSY2182Qd