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Lansdowne Oil & Gas - Director Dealing

RNS Number : 1344D
Lansdowne Oil & Gas plc
17 February 2020

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Steve Boldy, the Chief Executive Officer of the Company (responsible for arranging release of this announcement).


17 February 2020

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

Director's Dealing


Further to the placing announced earlier today, Lansdowne Oil & Gas plc is pleased to confirm that Tim Torrington, Non-Executive Chairman of Lansdowne, has now subscribed for a total of 2,000,000 new ordinary shares ("Director Subscription Shares") in the share capital of the Company on the same terms as placees being a price of 0.6 pence per share (the "Director Subscription").

Tim Torrington will also be granted warrants to subscribe for 2,000,000 new ordinary shares in the Company at a price of 1.2 pence per share, with an expiry of 31 December 2020.  The issue of these warrants will be subject to shareholder approval and they will be exercisable from the date of such approval.


Total Voting Rights

Following admission of the Placing Shares and the Initial Loan Shares, as announced earlier today, and the Director Subscription Shares, the Company will have in issue 798,419,845 ordinary shares of 0.1 pence each.  No ordinary shares are held in treasury.  Therefore, the total number of voting rights in the Company will be 798,419,845.

The above total current voting rights number is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.


Related Party Transaction

As Tim Torrington is a director of the Company, he is considered a "related party", as defined in the AIM Rules for Companies and the Director Subscription and issue of related warrants is a related party transaction for the purposes of Rule 13 the AIM Rules ("Related Party Transaction").

Steve Boldy, John Aldersey-Williams and Jeffrey Auld, being the independent directors for the purposes of the Related Party Transaction, consider, having consulted with the Company's nominated adviser, SP Angel Corporate Finance LLP, that the terms and conditions of the Director Subscription and issue of warrants are fair and reasonable insofar as the shareholders of the Company are concerned.


For further information please contact:

Lansdowne Oil & Gas plc

+353 1 963 1760

Steve Boldy




SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Nominated Adviser and Joint Broker


Stuart Gledhill


Richard Hail


Stephen Wong




Brandon Hill Capital

+44 (0) 20 3463 5061

Joint Broker


Oliver Stansfield



Notes to editors:

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is a North Celtic Sea focused, oil and gas exploration and appraisal company quoted on the AIM market and head quartered in Dublin.

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com.


PDMR Notification


Details of the person discharging managerial responsibilities/person closely associated


Full name of person Dealing

Tim Torrington


Reason for notification



Independent Non-Executive Chairman


Initial notification/ Amendment

Initial notification


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


Name of entity

Lansdowne Oil & Gas plc





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


Description of the financial instrument, type of instrument

i. Ordinary shares of 0.1 pence each in the Company

ii. Warrants to subscribe for ordinary shares of 0.1 pence per share


Identification code



Nature of the transaction

i. Subscription for ordinary shares

ii.Issue of warrants


Price(s) and volume(s)



i. 0.6 pence

ii.1.2 pence

i. 2,000,000




Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above



i.  0.6 pence

ii. 1.2 pence

i. 2,000,000




Date of transaction

17 February 2020


Place of transaction

i. London, UK

ii.Outside a trading venue


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Quick facts: Lansdowne Oil & Gas

Price: 2.095

Market: AIM
Market Cap: £16.86 m

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