22nd Sep 2009 17:00
22 September 2009
BPC Ltd
("BPC" or the "Company")
Director's shareholding
BPC, the oil and gas exploration company with licences in The Bahamas, announces that it has today been notified by Alan Burns, Chairman and Chief Executive Officer of the Company, that he has re-located to the Isle of Man, allowing him to better manage the Company in a time zone that is more suited to the Company's activities than that of Australia.
As a consequence of Mr Burns no longer being an Australian resident, his personal Australian superannuation fund, holding 44,820,000 of BPC ordinary shares, will be transferred at nil cost to Alan Burns. This holding represents 5.68 per cent. of BPC's issued ordinary share capital.
Mr Burns has confirmed that he has no current intention of selling his holding or portion thereof and that he will comply with the terms of the lock-in agreement entered into by the Fund as summarised at clause 8.3.5 of Part X of BPC's admission document dated 8 August 2008.
Mr Burns, Chairman and Chief Executive Officer, commented:
"Now that the Company is maturing and has a new spread of UK based institutional and private shareholders, I am pleased to be available in the same time zone and to be in a time zone more suitable for Bahamas matters as the project advances".
For further information contact:
|
BPC Limited Alan Burns, Chairman and CEO Dr Paul Crevello, Chief Operating Officer
|
Tel. +44 (0) 62 464 1199 +1 720 771 7583 |
|
Strand Partners Limited Rory Murphy / Liam Buswell |
Tel: +44 207409 3494 |
|
Novus Capital Markets Ltd David Rae
|
Tel: +44 (0)20 7107 1892 |
|
Financial Dynamics Billy Clegg / Ed Westropp |
Tel: +44 20 7831 3113 |
Related Shares:
BPC.L