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Directors' Dealing - Correction

Released 07:00 11-Apr-2017

RNS Number : 1303C
Great Eastern Energy Corp Ltd
11 April 2017
 

11 April 2017

Great Eastern Energy Corporation Limited

("Great Eastern" or "the Company")

 

Directors' Dealing - Correction

  

The announcement with the headline "Director's Dealing" released at 4.34 pm on 10 April 2017 was incorrect and is therefore retracted and replaced by this announcement.

 

The Company announces that Mr. Yogendra Kr. Modi, Executive Chairman, and Mr. Prashant Modi, Managing Director & CEO, purchased through YKM Holdings International Ltd., 735,216 GDRs at 27p each on 7 April 2017 in the Company (1 GDR represents 0.5 underlying ordinary share of INR 10 each). The Company was notified on 7 April 2017.

 

Following this purchase, they have a beneficial interest of 74,326,554 implied GDRs (42,955,000 GDRs and 15,685,777 ordinary shares) in the Company, representing approximately 62.39% of the total issued share capital.

 

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

Yogendra Kr. Modi and Prashant Modi

2

Reason for the notification

a)

Position/status

Executive Chairman, and  Managing Director & CEO, respectively

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

Great Eastern Energy Corporation Limited

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

GDRs representing 0.5 underlying ordinary share of INR 10 each  in Great Eastern Energy Corporation Limited

 

Identification code (ISIN) for Great Eastern Energy Corporation Limited ordinary shares: US39032T1060

b)

Nature of the transaction

Purchase of shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

27p

735,216

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

735,216 GDRs

27p average price

e)

Date of the transaction

7 April 2017

f)

Place of the transaction

London Stock Exchange, Main Market

 

 

About the Company:

 

A fully integrated Coal-Bed Methane (CBM) gas exploration, production, and development Company providing gas to the growing industrial region of West Bengal, India, from its Raniganj (South) CBM block, which covers 210 sq. km with 2.62 TCF of Gas-in-Place. 

 

The Company's second asset is the Mannargudi block, which covers 667 sq. km with 0.98 TCF of Gas-in-Place.

 

For further information please visit www.geecl.com or contact:

 

Arden Partners

Steve Douglas           

+44 20 7614 5900

Patrick Caulfield


 

 

                                                                                                    

                                                                                     

                                                                                                 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Directors' Dealing - Correction - RNS