REG - Westmount Energy Ld - Final Results <Origin Href="QuoteRef">WNRG.L</Origin> - Part 4

Westmount EnergyAnnouncement

25/11/2016 15:15

- Part 4: For the preceding part double click  ID:nRSY2182Qc 

                                                                                                                               
 were                                                                                                                                                                                                                                                                   
 outstandin                                                                                                                                                                                                                                                              
 g over                                                                                                                                                                                                                                                                 
 1,650,000                                                                                                                                                                                                                                                              
 (2015:                                                                                                                                                                                                                                                                 
 1,650,000)                                                                                                                                                                                                                                                              
 ordinary                                                                                                                                                                                                                                                               
 nil par                                                                                                                                                                                                                                                                
 shares,                                                                                                                                                                                                                                                                
 with a                                                                                                                                                                                                                                                                 
 weighted                                                                                                                                                                                                                                                               
 average                                                                                                                                                                                                                                                                
 exercise                                                                                                                                                                                                                                                               
 price of                                                                                                                                                                                                                                                               
 20p (2015:                                                                                                                                                                                                                                                              
 20p). The                                                                                                                                                                                                                                                              
 options                                                                                                                                                                                                                                                                
 vested in                                                                                                                                                                                                                                                              
 the year                                                                                                                                                                                                                                                               
 ended 31                                                                                                                                                                                                                                                               
 December                                                                                                                                                                                                                                                               
 2012 and                                                                                                                                                                                                                                                               
 are                                                                                                                                                                                                                                                                    
 exercisabl                                                                                                                                                                                                                                                              
 e at the                                                                                                                                                                                                                                                               
 option of                                                                                                                                                                                                                                                              
 the option                                                                                                                                                                                                                                                              
 holder,                                                                                                                                                                                                                                                                
 expiring                                                                                                                                                                                                                                                               
 31                                                                                                                                                                                                                                                                     
 December                                                                                                                                                                                                                                                               
 2016.                                                                                                                                                                                                                                                                  
 During the                                                                                                                                                                                                                                                              
 year nil                                                                                                                                                                                                                                                               
 (2015:                                                                                                                                                                                                                                                                 
 nil)                                                                                                                                                                                                                                                                   
 options                                                                                                                                                                                                                                                                
 were                                                                                                                                                                                                                                                                   
 exercised                                                                                                                                                                                                                                                              
 and £nil                                                                                                                                                                                                                                                               
 (2015:                                                                                                                                                                                                                                                                 
 £nil) of                                                                                                                                                                                                                                                               
 the option                                                                                                                                                                                                                                                              
 reserve                                                                                                                                                                                                                                                                
 was                                                                                                                                                                                                                                                                    
 released                                                                                                                                                                                                                                                               
 to share                                                                                                                                                                                                                                                               
 premium.                                                                                                                                                                                                                                                               
 During the                                                                                                                                                                                                                                                              
 year, as                                                                                                                                                                                                                                                               
 part of                                                                                                                                                                                                                                                                
 the open                                                                                                                                                                                                                                                               
 offer, the                                                                                                                                                                                                                                                              
 Company                                                                                                                                                                                                                                                                
 converted                                                                                                                                                                                                                                                              
 its                                                                                                                                                                                                                                                                    
 nominal                                                                                                                                                                                                                                                                
 and issued                                                                                                                                                                                                                                                              
 share                                                                                                                                                                                                                                                                  
 capital to                                                                                                                                                                                                                                                              
 nil par                                                                                                                                                                                                                                                                
 value.  As                                                                                                                                                                                                                                                              
 a                                                                                                                                                                                                                                                                      
 consequenc                                                                                                                                                                                                                                                              
 e of the                                                                                                                                                                                                                                                               
 re                                                                                                                                                                                                                                                                     
 -designati                                                                                                                                                                                                                                                              
 on of the                                                                                                                                                                                                                                                              
 shares as                                                                                                                                                                                                                                                              
 nil par                                                                                                                                                                                                                                                                
 value, the                                                                                                                                                                                                                                                              
 Company                                                                                                                                                                                                                                                                
 has                                                                                                                                                                                                                                                                    
 transferre                                                                                                                                                                                                                                                              
 d the                                                                                                                                                                                                                                                                  
 amount of                                                                                                                                                                                                                                                              
 the share                                                                                                                                                                                                                                                              
 premium                                                                                                                                                                                                                                                                
 account to                                                                                                                                                                                                                                                              
 share                                                                                                                                                                                                                                                                  
 capital.                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                        
 11.                                                                                                                                                                                                                                                                     
 FINANCIAL                                                                                                                                                                                                                                                              
 RISK                                                                                                                                                                                                                                                                   
 The                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                              
 investment                                                                                                                                                                                                                                                              
 activities                                                                                                                                                                                                                                                              
 expose it                                                                                                                                                                                                                                                              
 to a                                                                                                                                                                                                                                                                   
 variety of                                                                                                                                                                                                                                                              
 financial                                                                                                                                                                                                                                                              
 risks:                                                                                                                                                                                                                                                                 
 market                                                                                                                                                                                                                                                                 
 risk                                                                                                                                                                                                                                                                   
 (including                                                                                                                                                                                                                                                              
 foreign                                                                                                                                                                                                                                                                
 exchange                                                                                                                                                                                                                                                               
 risk,                                                                                                                                                                                                                                                                  
 price risk                                                                                                                                                                                                                                                              
 and                                                                                                                                                                                                                                                                    
 interest                                                                                                                                                                                                                                                               
 rate                                                                                                                                                                                                                                                                   
 risk),                                                                                                                                                                                                                                                                 
 credit                                                                                                                                                                                                                                                                 
 risk and                                                                                                                                                                                                                                                               
 liquidity                                                                                                                                                                                                                                                              
 risk. The                                                                                                                                                                                                                                                              
 Company's                                                                                                                                                                                                                                                              
 overall                                                                                                                                                                                                                                                                
 risk                                                                                                                                                                                                                                                                   
 management                                                                                                                                                                                                                                                              
 programme                                                                                                                                                                                                                                                              
 focuses on                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 unpredicta                                                                                                                                                                                                                                                              
 bility of                                                                                                                                                                                                                                                              
 financial                                                                                                                                                                                                                                                              
 markets                                                                                                                                                                                                                                                                
 and seeks                                                                                                                                                                                                                                                              
 to                                                                                                                                                                                                                                                                     
 minimise                                                                                                                                                                                                                                                               
 potential                                                                                                                                                                                                                                                              
 adverse                                                                                                                                                                                                                                                                
 effects on                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                              
 financial                                                                                                                                                                                                                                                              
 performanc                                                                                                                                                                                                                                                              
 e.                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                   
 a)                                                                                                                                                                                                                                                                     
 Market                                                                                                                                                                                                                                                                 
 Risk                                                                                                                                                                                                                                                                   
 i) Foreign                                                                                                                                                                                                                                                              
 exchange                                                                                                                                                                                                                                                               
 risk                                                                                                                                                                                                                                                                   
 The                                                                                                                                                                                                                                                                    
 Company is                                                                                                                                                                                                                                                              
 not                                                                                                                                                                                                                                                                    
 exposed to                                                                                                                                                                                                                                                              
 significan                                                                                                                                                                                                                                                              
 t currency                                                                                                                                                                                                                                                              
 risk as it                                                                                                                                                                                                                                                              
 invests in                                                                                                                                                                                                                                                              
 companies                                                                                                                                                                                                                                                              
 listed on                                                                                                                                                                                                                                                              
 the London                                                                                                                                                                                                                                                              
 Stock                                                                                                                                                                                                                                                                  
 Exchange,                                                                                                                                                                                                                                                              
 predominat                                                                                                                                                                                                                                                              
 ely                                                                                                                                                                                                                                                                    
 denominate                                                                                                                                                                                                                                                              
 d in                                                                                                                                                                                                                                                                   
 Sterling                                                                                                                                                                                                                                                               
 and has                                                                                                                                                                                                                                                                
 cash                                                                                                                                                                                                                                                                   
 balances                                                                                                                                                                                                                                                               
 denominate                                                                                                                                                                                                                                                              
 d in                                                                                                                                                                                                                                                                   
 Sterling.                                                                                                                                                                                                                                                              
 The                                                                                                                                                                                                                                                                    
 Company                                                                                                                                                                                                                                                                
 does have                                                                                                                                                                                                                                                              
 exposure                                                                                                                                                                                                                                                               
 to                                                                                                                                                                                                                                                                     
 currency                                                                                                                                                                                                                                                               
 risk                                                                                                                                                                                                                                                                   
 through                                                                                                                                                                                                                                                                
 its                                                                                                                                                                                                                                                                    
 investment                                                                                                                                                                                                                                                              
 in                                                                                                                                                                                                                                                                     
 Pancontine                                                                                                                                                                                                                                                              
 ntal, the                                                                                                                                                                                                                                                              
 directors                                                                                                                                                                                                                                                              
 do not                                                                                                                                                                                                                                                                 
 deem the                                                                                                                                                                                                                                                               
 exposure                                                                                                                                                                                                                                                               
 significan                                                                                                                                                                                                                                                              
 t and have                                                                                                                                                                                                                                                              
 not hedged                                                                                                                                                                                                                                                              
 this                                                                                                                                                                                                                                                                   
 exposure.                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                        
 ii) Price                                                                                                                                                                                                                                                              
 risk                                                                                                                                                                                                                                                                   
 Price risk                                                                                                                                                                                                                                                              
 is the                                                                                                                                                                                                                                                                 
 risk that                                                                                                                                                                                                                                                              
 the fair                                                                                                                                                                                                                                                               
 value of                                                                                                                                                                                                                                                               
 the future                                                                                                                                                                                                                                                              
 cash flows                                                                                                                                                                                                                                                              
 of a                                                                                                                                                                                                                                                                   
 financial                                                                                                                                                                                                                                                              
 instrument                                                                                                                                                                                                                                                              
 will                                                                                                                                                                                                                                                                   
 fluctuate                                                                                                                                                                                                                                                              
 due to                                                                                                                                                                                                                                                                 
 changes in                                                                                                                                                                                                                                                              
 market                                                                                                                                                                                                                                                                 
 prices.                                                                                                                                                                                                                                                                
 The                                                                                                                                                                                                                                                                    
 Company is                                                                                                                                                                                                                                                              
 exposed to                                                                                                                                                                                                                                                              
 price risk                                                                                                                                                                                                                                                              
 on the                                                                                                                                                                                                                                                                 
 investment                                                                                                                                                                                                                                                              
 s held by                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 Company                                                                                                                                                                                                                                                                
 and                                                                                                                                                                                                                                                                    
 classified                                                                                                                                                                                                                                                              
 by the                                                                                                                                                                                                                                                                 
 Company on                                                                                                                                                                                                                                                              
 the                                                                                                                                                                                                                                                                    
 Statement                                                                                                                                                                                                                                                              
 of                                                                                                                                                                                                                                                                     
 Financial                                                                                                                                                                                                                                                              
 Position                                                                                                                                                                                                                                                               
 as fair                                                                                                                                                                                                                                                                
 value                                                                                                                                                                                                                                                                  
 through                                                                                                                                                                                                                                                                
 profit or                                                                                                                                                                                                                                                              
 loss. To                        

- More to follow, for following part double click  ID:nRSY2182Qe