16th Jun 2008 07:00
16 June 2008
MAPLE ENERGY PLC
("Maple" or the "Company")
Person Discharging Managerial Responsibility Shareholding
On 13 June 2008, Maple was notified that its Chairman, Mr. Jack Hanks, and its Chief Executive Officer, Mr. Rex Canon, recently sold 500,000 and 50,000 ordinary shares, respectively.
Mr. Hanks sold his shares at an average price of 234 pence per ordinary share between 10 June and 13 June 2008. Following the sale of such shares, Mr. Hanks has a beneficial interest in 6,383,203 ordinary shares in Maple representing 7.16 percent of the issued and outstanding share capital of the Company on a non-diluted basis. All of the shares sold by Mr. Hanks were held by The Maple Gas Corporation, an entity in which Mr. Hanks beneficially owns all of the outstanding and issued share capital. Set forth in the table below is additional information in respect of the sales of ordinary shares by Mr. Hanks.
Mr. Canon sold his shares at a price of 220 pence per ordinary share on 13 June. Following the sale of such shares, Mr. Canon has a beneficial interest in 8,612,610 ordinary shares in Maple representing 9.66 percent of the issued and outstanding share capital of the Company on a non-diluted basis. Set forth in the table below is additional information in respect of the sale of such shares by Mr. Canon.
INFORMATION in RELATION to the SALES
|
Party |
Date |
Number of Shares |
Price per Share |
|
Jack Hanks (1) |
10 June 2008 |
200,000 |
255p |
|
13 June 2008 |
300,000 |
220p |
|
|
Rex Canon |
13 June 2008 |
50,000 |
220p |
_________
(1) Represents ordinary shares owned and sold by The Maple Gas Corporation which is beneficially owned by Mr. Jack Hanks
For further information, please contact:
Maple Energy plc (+ 51 1 611 4000)
Jack W. Hanks, Chairman of the Board and Executive Director
Rex W. Canon, Chief Executive Officer, President and Executive Director
Canaccord Adams Limited (+44 20 7050 6500)
Jeffrey Auld
Adam Janikowski
Bhavesh Patel
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
Kate Lehane
About Maple Energy
Maple is an integrated independent energy company, listed in London and Lima, with assets and operations in Peru engaging in numerous aspects of the energy industry, including:
Exploration and production of crude oil, natural gas and natural gas liquids
Refining, marketing and distribution of hydrocarbon products
Gas-fired power generation and power transmission
The development of an ethanol project
Maple was admitted to AIM on 13 July 2007 and trades under the symbol "MPLE". The company was also admitted to the Lima Stock Exchange on 21 December 2007 where it trades under the same symbol.
Operations
Maple's operations are conducted and revenues are generated through its wholly-owned subsidiaries and equity interest in Aguaytía Energy, LLC, a joint venture in which Maple owns an approximate 17.5% effective economic interest. Maple's principal operations consist of the following:
Crude Oil Production. Operator and holder of 100% working interests in its crude-oil producing properties, Blocks 31-B, 31-D and 31-E;
Refining, Marketing and Distribution Operations. Operator of the Pucallpa Refinery and Sales Plant, which has capacity to refine up to (i) 3,400 barrels per day of crude oil producing Residual 5 fuel oil, (ii) 3,000 barrels per day of crude oil producing Residual 6 fuel oil or (iii) 4,100 barrels per day of natural gasolines. This plant also includes sales and distribution operations in the central Peruvian jungle, central Peruvian highlands and Lima regions;
Aguaytía Energy Interest. Operator of Aguaytía Energy, LLC's gas assets and holder of an approximate 17.5% effective economic interest in Aguaytía Energy, LLC, an integrated energy company engaged in the production of Block 31-C, gas-fired power generation, power transmission, gas processing, natural gas liquids fractionation, gas and liquids transportation and the marketing of liquid petroleum gas and natural gasolines;
Crude Oil Development. Operator and holder of a 100% working interest in the Pacaya Field in Block 31-E as detailed above. Maple also intends to develop up to 31 additional wells in Blocks 31-B and 31-D;
Ethanol Project. Project developer and major shareholder in an estimated $180 million (excluding value added taxes) ethanol project located in the Piura Region on the northwest coast of Peru;
Oil and Gas Exploration. Significant exploration opportunities through a:
- 100% working interest in Block 31-E, containing the Santa Rosa, San Roque and Cashiboya Deep prospects and
- significant working interest in the Aguaytía Deep Prospect in Block 31-C
Related Shares:
MPLE.L