9th Jun 2005 18:11
Soco International PLC09 June 2005 SOCO International plc ("SOCO" or "the Company") Directors' Shareholdings The Company has today allotted a total of 347,007 ordinary shares of 20 penceeach ("Shares") following the receipt of applications to exercise options over637,201 Shares at an exercise price of 72.5 pence. As a result, the interests of Edward T Story (President and CEO) and Roger DCagle (Executive Vice President and Chief Financial Officer) in the sharecapital of the Company have increased by 154,798 and 192,209 Shares,respectively. The Board has decided in this instance that it is in the best interests of theCompany to agree with the option holders that only the net number of Shares beallotted, after deduction of the number of Shares which would have been sold tosettle the option exercise prices and associated tax liabilities. This hasavoided the requirement for such a sale and therefore no Shares are being soldas a result of this transaction. The Company will accordingly settle theassociated tax liabilities, and no option holder has received any additionaleconomic benefit from the manner in which these options have been exercised. The interests of the Directors in, and following, these transactions are asfollows: Director Options Shares Total Percentage of Exercised Allotted Shareholding Issued Share Capital Edward T Story 284,253 154,798 1,149,254 1.58%Roger D Cagle 352,948 192,209 262,209 0.36% All of these interests are beneficial except in relation to the interests ofRoger D Cagle where 83,850 Shares were allotted to and are now held by Cynthia BCagle upon the exercise of 153,971 options which were granted to her in respectof her services to SOCO International plc. For further information contact: Cynthia Cagle, Company Secretary, SOCOInternational plc on 020 7747 2000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pharos Energy