Directors Dealings and Salary & Fee Sacrifices

Caspian Sunrise PLC

("Caspian Sunrise" or the "Company")

 

Directors dealings and salary & fee sacrifices

 

In order to support and preserve cash for the Company's drilling operations the Company's directors have agreed to subscribe for a total of 8,938,570 ordinary shares in the Company ("Consideration Shares")  in lieu of a combination of accumulated pay, deferred pay and expenses.

 

Accordingly, the Company is pleased to announce the following directors will be allotted shares at 3.2p per share, being a premium of 5.3% to the 5 day volume weighted average mid-market price at the close of business on 6 July 2020.

 

Director	Subscription shares	Price per share (p)	Total resultant holding	Total resultant holding %
Clive Carver	2,245,000	3.2	2,245,000	0.12
Kuat Oraziman	3,750,000	3.2	45,235,330	2.39
Edmund Limerick	1,481,583	3.2	7,911,583	0.42
Tim Field	1,461,987	3.2	1,461,987	0.08

 

The subscription of Kuat Oraziman is subject to prior UK regulatory approval from the Panel on Takeovers and Mergers due to the current shareholding of the Oraziman family. Should such approval be granted, the shareholding of the Oraziman family will increase from 829,879,449 shares representing 44.1% of the Company's issued share capital to 833,629,449 shares representing 44.0%. A further announcement will be made upon confirmation of such approvals.

 

Following the above transactions the board and connected parties will own 845,836,925 shares representing 44.7% of the Company's issued share capital.

 

Shares in issue

 

Application will made to London Stock Exchange for 5,188,570 ordinary shares (being the Consideration Shares less those due to Kuat Oraziman) to be admitted to trading on AIM ("Admission") and dealings in the new ordinary shares are expected to commence on or around 14 July 2020. The Consideration Shares will, when issued, rank pari passu in all respects, and carry the same rights as the existing Ordinary Shares. Following Admission the total number of ordinary shares in issue will be 1,887,849,455.

 

The Consideration Shares due to Kuat Oraziman will be allotted and admitted to trading on AIM following confirmation of the necessary approvals as noted above, at which point a further announcement will be made.

 

Caspian Sunrise PLC

 

Clive Carver

Executive Chairman                                                                +7 727 375 0202

 

WH Ireland, Nominated Adviser & Broker

 

James Joyce                                                                            +44 (0) 207 220 1666

James Sinclair-Ford

 

This announcement has been posted to:

www.caspiansunrise.com/investors

 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

The below notification made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Clive Carver
2	Reason for the notification
a)	Position/status	Executive Chairman
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Caspian Sunrise PLC
b)	LEI	213800ODCON58VWIRS18
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	Ordinary Shares of 1p each
	Identification code	GB00B1W0VW36
b)	Nature of the transaction	Subscription in lieu of pay
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Purchase		3.2 pence	2,245,000
	Transfer Purchase
d)	Aggregated information
	- Aggregated volume	2,245,000
	- Aggregated Price	£71,840
e)	Date of the transaction	7 July 2020
f)	Place of the transaction	Off exchange

 

 

 

 

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Edmund Limerick
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	Caspian Sunrise PLC
b)	LEI	213800ODCON58VWIRS18
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	Ordinary Shares of 1p each
	Identification code	GB00B1W0VW36
b)	Nature of the transaction	Subscription in lieu of fees and expenses
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Purchase		3.2 pence	1,481,583
	Transfer Purchase
d)	Aggregated information
	- Aggregated volume	1,481,583
	- Aggregated Price	£47,410.64
e)	Date of the transaction	7 July 2020
f)	Place of the transaction	Off exchange

 

 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tim Field
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	Caspian Sunrise PLC
b)	LEI	213800ODCON58VWIRS18
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	Ordinary Shares of 1p each
	Identification code	GB00B1W0VW36
b)	Nature of the transaction	Subscription in lieu of fees and expenses
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Purchase		3.2 pence	1,461,987
	Transfer Purchase
d)	Aggregated information
	- Aggregated volume	1,461,987
	- Aggregated Price	£46,783.58
e)	Date of the transaction	7 July 2020
f)	Place of the transaction	Off exchange