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Company Maple Energy plc
TIDM MPLE
Headline

Notification of Transactions

Released 18:09 12-Feb-2013
Number 7480X18

RNS Number : 7480X
Maple Energy plc
12 February 2013
 



 

12 February 2013

 

 

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, was notified that on 11 February 2013, Mr. Rex Canon, Chief Executive Officer and Executive Director, entered into a sale and repurchase agreement (the " Financing Agreement") through the Lima Stock Exchange for the sale and repurchase of up to 936,260 ordinary shares beneficially owned by Mr. Rex Canon.

 

Under the terms of the Financing Agreement, Mr. Rex Canon sold 936,260 ordinary shares at a price of PEN 2.20 (56p*) per ordinary share, while assuming at the same time the obligation to repurchase such shares at a price of PEN 2.33 (59p*) per ordinary share on 30 September 2013. Mr. Canon will primarily use the proceeds of the Financing Agreement to pay certain obligations including the repayment of certain existing loans, previously disclosed on 6 June 2012 and 26 September 2012 (the "Previous Loans"), which shall result in the release from security of 876,200 ordinary shares of the Company held by him securing the Previous Loans.

 

Following the completion of the transaction described above, and prior to the repurchase of such ordinary shares, Mr. Rex Canon will beneficially own 6,340,738 ordinary shares, or 3.9% of the outstanding share capital of Company on a non-diluted basis.

 

*The exchange rate used was 3.915, for PEN/UK sterling calculated as of 11 February 2013.

 

 

 

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
 
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Notification of Transactions - RNS