RNS Number : 6429A
Petrel Resources PLC
22 January 2020
Notification of Transactions by Persons Discharging Managerial Responsibilities
and Persons Closely Associated with them
[This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of theEuropean Parliament and of the
Council of 16 April 2014 on market abuse (Market Abuse Regulation)]
1 | Details of the person discharging managerial responsibilities/person closely | ||||
associated | |||||
a) | Name | Michel Fayad | |||
2 | Reason for the | notification | |||
a) | Position/status | Non-Executive Director | |||
b) | Initial | Amendment notification | |||
Notification | |||||
Amendment | |||||
3 | Details of the | issuer, emission allowance market participant, auction | |||
platform, auctioneer or auction monitor | |||||
a) | Name | PETREL RESOURCES PLC | |||
b) | LEI | 213800WAVVOPS85N2205 | |||
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 | Ordinary Shares of 1.25 cent each | |||
the financial | ISIN: IE0001340177 | ||||
instrument, | |||||
type of | |||||
instrument | |||||
Identification | |||||
code | |||||
b) | Nature of the | Disposal of Shares | |||
transaction | |||||
c) | Price(s) and | ||||
volume(s) | Price(s) | Volume(s) | |||
Nil | 14,934,615 | ||||
d) | Aggregated | 14,934,615 Ordinary Shares | |||
information | |||||
- Aggregated | Nil | ||||
volume | |||||
- Price | |||||
e) | Date of the | 23rd December 2019 | |||
transaction | |||||
f) | Place of the | Outside a trading venue | |||
transaction | |||||
g) | Additional | Michel Fayad is making this disclosure, however, the nature of | |||
Information | |||||
this transaction is subject to a dispute between himself and the | |||||
counter party who he understands to be a Delaware company | |||||
EYCP LLC. Mr Fayad when the authorised the transfer of the | |||||
above shares he believed that he was not making a disclosable | |||||
transaction as it did not fall within Article 19(7)(a) of the Market | |||||
Abuse Regulation as he was transferring the relevant shares into | |||||
custody without it being designated to secure a specific credit | |||||
facility. Mr Fayad understands that EYCP dispute this and claim | |||||
that upon transfer the shares were designated to secure a | |||||
particular facility despite no funds being advanced under that | |||||
facility to Mr Fayad or any others." | |||||
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Petrel Resources plc published this content on 22 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 January 2020 17:03:09 UTC