8 Jan 2009 15:13
SOCO International plc
('SOCO' or the 'Company')
DIRECTORS/PDMR SHAREHOLDING
The Company announces an increase in Director/ Person Discharging Managerial Responsibility ("PDMR") shareholdings pursuant to an exercise today of certain Long Term Incentive Plan ("LTIP") awards, in accordance with relevant tax regulations requiring exercise upon vesting.
Ed Story and Roger Cagle, both being Executive Directors, and Cynthia Cagle, a PDMR, (together, "the Option Holders"), exercised options over a total of 167,000 nil-price LTIP awards. To cover the resulting tax obligations of the exercise, 65,030 Shares in total were sold at a price of £12.04578.
Further details of the aforementioned exercises and transactions are shown below:
| Director/PDMR | Options exercised | Shares sold | Resulting interest held (Shares) | Resulting interest held (Options) |
| Ed Story | 75,600 | 27,556 | 2,874,459 | 646,680 |
| Roger Cagle | 52,900 | 21,689 | 1,143,716 | 460,580 |
| Cynthia Cagle | 38,500 | 15,785 | 637,053 | 303,560 |
SOCO Employee Benefit Trust ("the SOCO EBT")
Accordingly, the Trustees of the SOCO EBT have today informed the Company that it has released a total of 167,000 SOCO International plc ordinary shares of £0.20 each ("Shares") as a result of the exercise of the above mentioned nil-price option awards, in accordance with the Company's LTIP. Following the release of Shares, the SOCO EBT is interested in 1,752,680 Shares, representing 2.34% of the total voting rights of the Company.
8 January 2009
ENQUIRIES:
SOCO International plc
Carol Fan
Tel: 020 7747 2000
Pelham Public Relations
Mark Antelme, tel: 020 7743 6676
James Henderson, tel: 020 7743 6673
Pharos Energy (PHAR)