7th May 2009 07:00
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES
TSX-V, LSE-AIM: XEL
May 6, 2009
Xcite Energy Limited
("Xcite Energy" or the "Company")
Xcite Energy, a heavy oil company focused on the development of discovered resources in the UK North Sea, today announces the purchase of ordinary shares of nil par value ("Ordinary Shares") by certain Directors and by members of Xcite Energy Resources Limited management team.
The shares were purchased as follows:
|
Price |
Number of Ordinary Shares purchased |
||
|
Timothy S. Jones |
Director |
£0.31 |
50,000 |
|
Stephen A. Kew |
Director |
£0.35 |
14,285 |
|
Xcite Energy Resources Limited management team |
£0.32 |
99,031 |
|
Resultant Director shareholdings are as follows:
|
No of Ordinary Shares held |
Percentage of Xcite Energy |
||
|
Timothy S. Jones |
Director |
50,000 |
0.08% |
|
Stephen A. Kew |
Director |
6,314,285 |
10.28% |
The 14,285 Ordinary Shares that Mr. Kew acquired on the AIM market of the London Stock Exchange at a price of £0.35 (C$0.62) represent 0.02% of the issued and outstanding Ordinary Shares of the Company. Following the acquisition and together with the 6,300,000 Ordinary Shares that he already owned at the initial public offering of the Company, Mr. Kew now owns 6,314,285 Ordinary Shares, representing 10.28% of the issued and outstanding Ordinary Shares of the Company. Mr. Kew acquired the Ordinary Shares for investment purposes and he may, depending on the market and other conditions, increase or decrease his beneficial ownership, control or direction over Ordinary Shares of the Company. An early warning report will be filed on SEDAR and will be obtainable from the SEDAR website (www.sedar.com).
ENQUIRIES:
|
Xcite Energy Limited |
+44 (0) 1330 826 740 |
|
|
Richard Smith |
Chief Executive Officer |
|
|
Rupert Cole |
Chief Financial Officer |
|
|
Thomas Weisel Partners International Limited |
+44 (0) 20 7877 4300 |
|
|
Paul Colucci |
Managing Director |
|
|
Jesse Meidl |
Vice President |
|
|
Strand Partners Limited |
+44 (0) 20 7409 3494 |
|
|
James Harris |
Director |
|
|
Rory Murphy |
Director |
|
|
Pelham Public Relations |
+44 (0) 20 7337 1500 |
|
|
Mark Antelme |
Director |
|
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Related Shares:
Xcite Energy