1 November 2019
Westmount Energy Limited
("Westmount" or the "Company")
2017-2018 Options Term Extension
Westmount Energy Limited (AIM: WTE), the energy investment company, announces that the expiry date of the Company's 2017-2018 options, due to expire on 31 December 2019, has been extended to 31 December 2021. The 2017-2018 options held by the directors are as follows:
Director |
Share Options |
Exercise Price |
New Expiration Date |
Gerard Walsh Dermot Corcoran Tom O'Gorman David King |
500,000 500,000 500,000 250,000 |
7.5p per share 7.5p per share 7.5p per share 7.5p per share |
31 December 2021 31 December 2021 31 December 2021 31 December 2021 |
The Share Options may, at any time before expiry, be exercised in whole or in multiples of not less than 5,000 nil par value ordinary shares in the Company ("Ordinary Shares"). Ordinary Shares issued as a result of any such exercise may be sold (subject to applicable laws and AIM Rules) at any time including, but not limited to, a takeover or change of control of the Company.
Following the above grants, the Directors total beneficial interests in Ordinary Shares will be as follows:
Director |
Ordinary Shares |
Approx. % of Share Capital |
Share Options |
Gerard Walsh Dermot Corcoran Tom O'Gorman David King |
11,933,565 5,250,000 4,650,000 - |
10.9 4.8 4.2 - |
1,000,000 1,000,000 750,000 500,000 |
In addition to the above, Mr Walsh holds £400,000 principal of 10% p.a. convertible unsecured loan notes 2021 in the Company.
For further information, please contact:
Westmount Energy Limited www.westmountenergy.com
David King, Director Tel: +44 (0) 1534 823133
Jane Vlahopoulou
Cenkos Securities plc (Nomad and Broker)
Nicholas Wells Tel: +44 (0) 20 7397 8900
Harry Hargreaves
Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Gerard Walsh |
2 |
Reason for the notification |
a) |
Position/status |
Chairman |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Westmount Energy Limited |
b) |
LEI |
213800GJISWVBB5S3L84 |
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 |
Options over ordinary shares of no par value |
Identification code |
ISIN: GB00B0S5KR31 |
b) |
Nature of the transaction |
Extension of option expiration date |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
- |
500,000 |
|
|
|
|
|
|
d) |
Aggregated information |
|
- Aggregated volume |
500,000 |
- Price |
- |
e) |
Date of the transaction |
1 November 2019 |
f) |
Place of the transaction |
Outside of trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Dermot Corcoran |
2 |
Reason for the notification |
a) |
Position/status |
Director |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Westmount Energy Limited |
b) |
LEI |
213800GJISWVBB5S3L84 |
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 |
Options over ordinary shares of no par value |
Identification code |
ISIN: GB00B0S5KR31 |
b) |
Nature of the transaction |
Extension of option expiration date |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
- |
500,000 |
|
|
|
|
|
|
d) |
Aggregated information |
|
- Aggregated volume |
500,000 |
- Price |
- |
e) |
Date of the transaction |
1 November 2019 |
f) |
Place of the transaction |
Outside of trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Tom O'Gorman |
2 |
Reason for the notification |
a) |
Position/status |
Director |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Westmount Energy Limited |
b) |
LEI |
213800GJISWVBB5S3L84 |
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 |
Options over ordinary shares of no par value |
Identification code |
ISIN: GB00B0S5KR31 |
b) |
Nature of the transaction |
Extension of option expiration date |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
- |
500,000 |
|
|
|
|
|
|
d) |
Aggregated information |
|
- Aggregated volume |
250,000 |
- Price |
- |
e) |
Date of the transaction |
1 November 2019 |
f) |
Place of the transaction |
Outside of trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
David King |
2 |
Reason for the notification |
a) |
Position/status |
Non-Executive Director |
b) |
Initial notification /Amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Westmount Energy Limited |
b) |
LEI |
213800GJISWVBB5S3L84 |
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 |
Options over ordinary shares of no par value |
Identification code |
ISIN: GB00B0S5KR31 |
b) |
Nature of the transaction |
Extension of option expiration date |
c) |
Price(s) and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
|
|
- |
250,000 |
|
|
|
|
|
|
d) |
Aggregated information |
|
- Aggregated volume |
250,000 |
- Price |
- |
e) |
Date of the transaction |
1 November 2019 |
f) |
Place of the transaction |
Outside of trading venue |
