Notification of Directors’ interests

1 May 2018 

Faroe Petroleum plc 

("Faroe Petroleum" or the "Company") 

Notification of Directors' interests 

On 27 April 2018, Executive Directors of the Company acquired ordinary shares of 10 pence each in the share capital of the Company ("Ordinary Shares").  The Ordinary Shares acquired by the Executive Directors have been treated as 'Investment Shares' under the Faroe Petroleum plc Co-Investment Plan ('FPCIP'), and the Remuneration Committee, which is comprised wholly of non-executive directors, has on 30 April 2018 made an award of conditional Matching Shares.  The value of the Matching Shares is equivalent to the gross amount invested prior to the deduction of income tax at the participant's marginal rate together with any employee social security charge or other similar payroll deduction. 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them 

(Disclosure in relation to purchase of shares and award of matching shares) 

  

 1   Details of the person discharging   managerial responsibilities / person closely associated 
a)  Name  Graham Duncan Stewart 
2  Reason for the notification  
a)  Position/status   Chief Executive 
b)  Initial notification /Amendment   Initial notification 
3  Details of the issuer, emission   allowance market participant, auction platform, auctioneer or auction monitor 
a)  Name   Faroe Petroleum plc 
b)  LEI    213800RE18GVZGNYB270 
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   21,353 Ordinary Shares of 10p each in   Faroe Petroleum plc. 40,289 Matching Shares of 10p each in   Faroe Petroleum plc.
   
ISIN: GB0033032904 
b)  Nature of the transaction   (i)    Purchase of Ordinary Shares (ii)   Award of conditional Matching   Shares 
c)  Price(s) and volume(s)  Price(s)  Volume(s) 
(i)    131.60p  21,353 
(ii)   131.80p  40,289 
d)  Aggregated information   61,642 Ordinary Shares of 10p each in   Faroe Petroleum plc. 
e)  Date of the transaction   27 and 30 April 2018 
f)  Place of the transaction   XLON 

  

  

  

  

  

 1   Details of the person discharging   managerial responsibilities / person closely associated 
a)  Name  Helge Ansgar Hammer 
2  Reason for the notification  
a)  Position/status   Chief Operating Officer 
b)  Initial notification /Amendment   Initial notification 
3  Details of the issuer, emission   allowance market participant, auction platform, auctioneer or auction monitor 
a)  Name   Faroe Petroleum plc 
b)  LEI    213800RE18GVZGNYB270 
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   15,838 Ordinary Shares of 10p each in   Faroe Petroleum plc. 29,659 Matching Shares of 10p each in   Faroe Petroleum plc.
   
ISIN: GB0033032904 
b)  Nature of the transaction   (i)    Purchase of Ordinary Shares (ii)   Award of conditional Matching   Shares 
c)  Price(s) and volume(s)  Price(s)  Volume(s) 
(i)    131.60p  15,838 
(ii)   131.80p  29,659 
d)  Aggregated information   45,497 Ordinary Shares of 10p each in   Faroe Petroleum plc. 
e)  Date of the transaction   27 and 30 April 2018 
f)  Place of the transaction   XLON 

  

  

 1   Details of the person discharging   managerial responsibilities / person closely associated 
a)  Name  Jonathan Robert Cooper 
2  Reason for the notification  
a)  Position/status   Chief Financial Officer 
b)  Initial notification /Amendment   Initial notification 
3  Details of the issuer, emission   allowance market participant, auction platform, auctioneer or auction monitor 
a)  Name   Faroe Petroleum plc 
b)  LEI    213800RE18GVZGNYB270 
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   14,418 Ordinary Shares of 10p each in   Faroe Petroleum plc. 27,204 Matching Shares of 10p each in   Faroe Petroleum plc.
   
ISIN: GB0033032904 
b)  Nature of the transaction   (i)    Purchase of Ordinary Shares (ii)   Award of conditional Matching Shares 
c)  Price(s) and volume(s)  Price(s)  Volume(s) 
(i)    131.60p  14,418 
(ii)   131.80p  27,204 
d)  Aggregated information   41,622 Ordinary Shares of 10p each in   Faroe Petroleum plc. 
e)  Date of the transaction   27 and 30 April 2018 
f)  Place of the transaction   XLON 

  

Total Holdings 

Following these transactions the relevant Directors hold the following Ordinary Shares together with options over the same (including historic Matching Shares) exercisable at nil cost. 

  

Director      No of Ordinary Shares  of 10p each  No. of options over ordinary shares of 10p each 
Graham   Duncan Stewart  1,744,158  6,068,419  
Helge   Ansgar Hammer  830,939  3,765,878 
Jonathan   Robert Cooper  280,365  3,337,083 

  

- Ends - 

For further information please contact: 

Faroe   Petroleum plcGraham   Stewart, CEO Tel: +44   1224 650 920
Stifel   Nicolaus Europe Limited  Callum Stewart /Nicholas Rhodes/Ashton Clanfield Tel: +44   207 710 7600
BMO   Capital MarketsNeil Haycock / Tom Rider / Jeremy Low  Tel: +44   207 236 1010
FTI   ConsultingEdward   Westropp/Emerson Clarke Tel: +44   207 831 3113

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations. 

This information is provided by RNS

The company news service from the London Stock Exchange

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