17th Mar 2010 14:27
17 March 2010 Northern Petroleum Plc ("Northern" or "the Company") Additional Listing & Directors' Shareholdings
The Company announces that on 16 March Graham Heard, Exploration & Technical Director, exercised 100,000 warrants to acquire ordinary shares of 5 pence each ("ordinary shares") at 11.25 pence per ordinary share. The Company has made an application pursuant to the authority granted on 22 July 2009 for the admission of 100,000 ordinary shares to trading on AIM. Each new ordinary share will rank pari passu with existing ordinary shares. Following the admission, the total number of ordinary shares in issue will be 79,997,995.
It is expected that dealings in the 100,000 new ordinary shares will commence on 24 March 2010.
Following this warrant exercise Mr Heard today sold 37,698 ordinary shares at a price of 126p per share, while his SIPP today purchased 37,698 ordinary shares at a price of 126p per share. In addition, Mr Heard has today transferred 110,000 of his ordinary shares to his SIPP at a price of 125.425p per share. Following these transactions, Mr Heard's total beneficial shareholding has increased by 100,000 to 563,384 ordinary shares, which represents 0.70 per cent of the enlarged issued share capital of the Company.
In addition the Company has been advised that Chris Foss, Finance Director, today sold 4,350 ordinary shares at a price of 126p per share, while his SIPP today purchased 4,350 ordinary shares at a price of 126p per share. Following these transactions, Mr Foss' beneficial shareholding remains at 102,052 ordinary shares, which represents 0.13 per cent of the enlarged issued share capital of the Company.
The Company has also been advised that Tony Brewer, Non-Executive Director, today sold 6,391 ordinary shares at a price of 124p per share, while his SIPP today purchased 6,391 ordinary shares at a price of 124.75p per share. Following these transactions, Mr Brewer's beneficial shareholding remains at 81,391 ordinary shares, which represents 0.10 per cent of the enlarged issued share capital of the Company.
As a result of all these transactions, the directors' total beneficial shareholdings are now 2,891,635 ordinary shares, which represents 3.61 per cent of the enlarged issued share capital of the Company.
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For further information please contact:
Northern Petroleum Plc Tel: +44 (0) 20 7469 2900Derek Musgrove, Managing DirectorChris Foss, Finance DirectorGraham Heard, Exploration & Technical DirectorSophie Hull, Head of Corporate CommunicationsJefferies International Tel: +44 (0) 20 7029 8000
Schuyler Evans / Chris Snoxall
Astaire Securities Tel: +44 (0) 20 7448 4400Jerry Keen / Toby GibbsNotes to Editors:
Further information on Northern is available at www.northpet.com.
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