17th May 2006 11:58
Global Petroleum Ltd17 May 2006 Global Petroleum Limited Exercise of Options Global Petroleum Limited advises that Directors have approved the allotment of2,000,000 fully paid ordinary shares as the result of a notice received fromJohn Dennis Armstrong to exercise part of the 10,000,000 options held by him anddue for expiry 30 June 2007. The exercise price of A$0.25 cents (10.5 pence)amounting to A$500,000 (£210,000) will be paid to the Company. Dr Armstrong isthe Executive Chairman of Global Petroleum Limited. The Company has applied for 2,000,000 shares, no par value, to be admitted totrading on AIM. Such admission is expected on 22 May 2006. An application forquotation of the new shares has been made to the ASX and the shares are expectedto be allotted by 19 May 2006. The total number of Global ordinary shares quoted on the ASX and AIM followingthe exercise of the options will be 172,294,787. Des Olling Company Secretary Global Petroleum Limited Level 9, 46 Edward Street Brisbane, Qld 4000 Tel: (07) 3211 1122 Fax: (07) 3211 0133 Email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Global Petroleum