RNS Number : 7008W
Petroneft Resources PLC
18 April 2019
 

Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them

 

This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

David Sturt

2

Reason for the notification

a)

Position/status

Chief Executive Officer / PDMR

b)

Initial notifications /Amendments

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Petroneft Resources plc

b)

LEI

635400ELL1JOR1Y5IC41   

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of €0.01 each



IE00B0Q82B24

b)

Nature of the transactions

Issue of Ordinary Shares as settlement of previously accrued fees in role as Non-Director

c)

Price(s) and volume(s)

Price(s)

£0.01125

 

 

Volume(s)

3,413,390

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transactions

16.04.2019

f)

Place of the transactions

Outside of a trading venue

g)

Additional Information

The Company owed Mr Sturt accrued fees totalling €44,806 from his time as non-executive Director of the company up until his appointment as CEO on 25th March 2019. At Mr Sturt's request the company has settled this debt by providing shares instead of in cash at based on the weighted average share price for the five days prior to his commencement as CEO (1.1125p/share) with the total issued to him being 3,413,390.

 

 


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