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Notification of Transactions

6th Jun 2012 08:25

RNS Number : 7713E
Maple Energy plc
06 June 2012
 



For Immediate Release

6 June 2012

 

MAPLE ENERGY PLC

("Maple" or the "Company")

Notification of Transactions

By Directors and Persons Discharging Managerial

Responsibility Shareholding

 

Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, announces that on 1 June 2012 it was notified that Mr. Rex Canon, Chief Executive Officer and Executive Director, entered into several financing (loan) transactions involving ordinary shares of the Company beneficially owned by Mr. Canon.

Mr. Canon entered into an agreement (the "Pledge Agreement") on 1 June 2012 whereby security over 476,200 ordinary shares of the Company (the "Pledged Shares") held by him was granted in favour of a third party lender (the "Lender") as security against a personal loan of US$250,000 also entered into on 1 June 2012. Under the terms of the Pledge Agreement, title to the Pledged Shares can be transferred to, sold, or otherwise dealt with by the Lender following the occurrence of a failure to pay any amount due and payable under the personal loan. Mr. Canon will primarily use the proceeds of this loan to pay certain obligations including the repayment of an existing loan, previously disclosed on 31 October 2011 (the "2011 Loan"), which shall result in the release from security of 200,000 ordinary shares of the Company held by him securing the 2011 Loan.

Mr. Canon also entered into a pledge agreement on 1 June 2012 whereby security over 285,714 ordinary shares of the Company held by him was granted in favour of a third party lender as security against a personal loan that was previously entered into by Mr. Canon. Under the terms of this agreement, title to the pledged shares can be transferred to, sold, or otherwise dealt with by this lender following the occurrence of a failure to pay any amount due and payable under the personal loan.

There is no change in Mr. Canon's overall shareholding in the Company, and he continues to beneficially own 7,276,998 ordinary shares, or 4.9% of the outstanding share capital of Company on a non-diluted basis.

For further information, please contact:

Maple Energy plc (+ 51 1 611 4000)

Rex W. Canon, Chief Executive Officer, President and Executive Director

 

Cenkos Securities plc (+44 20 7397 8900)

Jon Fitzpatrick

Ken Fleming

 

Buchanan (+44 20 7466 5000)

Mark Edwards

Ben Romney

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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