Issue of Equity and Total Voting Rights

1 May 2018

Faroe Petroleum plc

("Faroe Petroleum" or the "Company")

Issue of Equity and Total Voting Rights

On 27 April 2018, two employees of the Company exercised nil-cost options over a total of 63,348 ordinary shares of 10p each in the share capital of the Company ("Ordinary Shares") under the Faroe Petroleum Incentive Plan ("FPIP") and the Faroe Co-Incentive Plan ("CIP"). 

Faroe Petroleum has applied to the London Stock Exchange for 63,348 new Ordinary Shares (the "New Ordinary Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 4 May 2018. The New Ordinary Shares will, following allotment, rank pari passu in all respects with the existing issued Ordinary Shares.

Following Admission, the Company's issued share capital will be 366,706,338 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of voting rights in the Company will be 366,706,338.

Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

- Ends -

For further information please contact:

Faroe Petroleum plc Graham Stewart Tel: +44 1224 650 920  
Stifel Nicolaus Europe Limited Callum Stewart / Nicholas Rhodes / Ashton Clanfield Tel: +44 20 7710 7600
BMO Capital Markets Neil Haycock / Tom Rider / Jeremy Low Tel: +44 20 7236 1010
FTI Consulting Edward Westropp / Emerson Clarke Tel: +44 20 3727 1000

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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