28th Sep 2005 18:07
Burren Energy PLC28 September 2005 Burren Energy plc ("Company") Placing and Director Shareholding The Company announces that Seymour Pierce and KBC Peel Hunt have today placed onbehalf of existing shareholders 12,032,732 ordinary shares at 825p per sharewith institutional investors. Of the existing shareholders who sold shares in the placing, three hadnotifiable interests as follows: a) First NIS Regional Fund SICAF sold 4,251,065 shares, and remains interested in 7,699,516 shares, representing 5.50 per cent. of the issued share capital of the Company; b) Cavendish Nominees Limited sold 1,820,380 shares, and no longer has a notifiable interest in the Company; and c) Tacoma E&P Limited ("Tacoma") sold 5,000,000 shares, and remains interested in 10,595,000 shares, representing 7.58 per cent. of the issued share capital of the company. Pierre Lasry, a Director of the Company, and the estate of Andreas Dossenbach, aformer Director of the Company, are beneficially interested in the share capitalof Tacoma. The Tacoma shares sold were sold on behalf of the estate of MrDossenbach. Mr Lasry has received no benefit or consideration from the sale ofthe Tacoma shares. In addition, the Company announces that, pursuant to the terms of the Company'slong term incentive plan ("LTIP"), it has issued an aggregate of 870,348 newordinary shares at a subscription cost of 20p per share, including 276,929shares to Finian O'Sullivan, Chief Executive Officer. In the placing referred to above, Finian O'Sullivan and Alan Cole, anon-executive director of the Company, have sold 276,929 and 12,500 ordinaryshares respectively at 825p per share to institutional investors. Following the placing of Ordinary Shares referred to above, the interests ofFinian O'Sullivan and Alan Cole in the issued share capital of the Company areas follows: Name No. of Ordinary Shares Percentage of issued share capital Finian O'Sullivan 5,317,020 3.80Alan Cole 12,500 0.01 Brian Thurley, Technical Director, Hywel John, Company Secretary, and JohnStanton, Shipping Director, have also sold 113,541, 64,881 and 64,881 ordinaryshares respectively in the placing to satisfy certain personal tax liabilitiesand other costs incurred by them in connection with the issue of new ordinaryshares pursuant to the LTIP. The new shares issued pursuant to the LTIP will be listed on the Official Listand admitted to trading on the main market of the London Stock Exchange pursuantto the Company's existing block listing authority. Enquiries: Andrew Rose Chief Financial OfficerBurren Energy plc 020 7484 1900 Jonathan Wright / Richard RedmayneSeymour Pierce 020 7107 8000 David DaviesKBC Peel Hunt 020 7418 8900 James Henderson / Alisdair HaythornthwaitePelham PR 020 7743 6676 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Burford Capital