CALGARY, AB--(Marketwired - Jan 17, 2014) - Ithaca Energy Inc. (
On 16 January 2014 the following Directors and Officers exercised the number of options set forth below at prices ranging between C$0.25 - C$2.25 per Common Share:
Jack Lee | Director | 100,000 | ||
Brad Hurtubise | Director | 200,000 | ||
John Summers | Director | 333,333 | ||
Frank Wormsbecker | Director | 200,000 | ||
Jay Zammit | Director | 100,001 | ||
John Woods | Officer | 600,000 |
On the same day, the following Directors and Officers sold the following number of shares at a price of £1.45 per Common Share.
Brad Hurtubise | Director | 115,000 | ||
John Summers | Director | 215,000 | ||
Frank Wormsbecker | Director | 100,000 | ||
Jay Zammit | Director | 100,001 | ||
John Woods | Officer | 600,000 |
Where applicable, the balance of shares acquired following completion of the transactions reported above has been retained by each of those Officers in order to increase their individual shareholdings.
A further 981,667 options have also been exercised by other employees of the Company.
As a result of the option exercises reported above, the Company has issued a total of 2,515,001Common Shares and has applied for such Common Shares to be admitted to trading on AIM. Each new Common Share will rank paripassu with the existing Common Shares and admission to trading on AIM is expected to occur on 24 January 2014.
Nick Muir, an Officer of the Company, also sold 295,000 shares on 16th January at a price of £1.45 per Common Share.
Summary
Following completion of all the transactions noted above, the revised shareholdings of the relevant Directors and Officers of the Company are as follows:
No. of shares held | % of voting rights represented by shares held | |||||
Jack Lee | Director | 1,100,000 | 0.34% | |||
Brad Hurtubise | Director | 260,000 | 0.08% | |||
John Summers | Director | 408,033 | 0.13% | |||
Frank Wormsbecker | Director | 350,000 | 0.11% | |||
Jay Zammit | Director | 525,000 | 0.16% | |||
NickMuir | Officer | 20,105 | 0.01% | |||
John Woods | Officer | 309,105 | 0.10% |
The Company now has 326,148,621 Common Shares outstanding with one voting right per Common Share. There are no Common Shares held by Ithaca in treasury. The total number of voting shares in the Company is therefore 326,148,621. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Services Authority's Disclosure and Transparency Rules.
The total number of shares under option is now 19,243,566Common Shares, representing approximately 5.6% of total shares outstanding and under option.Fully diluted, the Company now has 345,392,187 CommonShares on issue.
About Ithaca Energy
Ithaca Energy Inc. (
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Contact Information:
Enquiries:
Ithaca Energy
Graham Forbes
gforbes@ithacaenergy.com
+44 (0)1224 652 151
Richard Smith
rsmith@ithacaenergy.com
+44(0) 1224 652 172
FTI Consulting
Edward Westropp
edward.westropp@fticonsulting.com
+44 (0)207 269 7230
Georgia Mann
georgia.mann@fticonsulting.com
+44 (0)207 269 7212
Cenkos Securities
Neil McDonald
nmcdonald@cenkos.com
+44 (0)131 220 6939
Beth McKiernan
bmckiernan@cenkos.com
+44 (0)131 220 9778
RBC Capital Markets
Tim Chapman
tim.chapman@rbccm.com
+44 (0)207 653 4641
Matthew Coakes
matthew.coakes@rbccm.com
+44 (0)207 653 4871