22 Mar 2012 18:01
NOTIFICATION BY COMPANY TO RIS OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS
London, 22 March 2012 - Afren plc has received notification from Mr John St. John that he has inadvertently dealt in Afren shares during the Company's close period. Mr St. John sold 8,275 ordinary shares and purchased 8,176 ordinary shares in Afren for transfer into a savings account in connection with CGT planning (the difference in the number of shares sold and purchased was due to dealing costs and the bid-offer spread). This dealing was undertaken without having obtained prior clearance as required under the Model Code, because Mr St. John intended to trade other shares and inadvertently gave the wrong instructions. The Company is satisfied that Mr St. John undertook this transaction in connection with his legitimate CGT planning purposes and considers that it was not for an abusive purpose.
Further details regarding the nature of such dealing are set out below.
NOTIFICATION BY COMPANY TO RIS OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS
1 | Name of the issuer | AFREN PLC |
2 | State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure (ii) a disclosure made in accordance with section 793 of the Companies Act (2006); or (iii) a disclosure made in accordance with paragraph 26 of the Model Code:
| A TRANSACTION NOTIFIED IN ACCORDANCE WITH DTR 3.1.2 R |
3 | Name of person discharging managerial responsibilities/director: | MR. JOHN ST JOHN |
4 | State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person: | N/A |
5 | Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest | IN RESPECT OF PERSON REFERRED TO IN 3 ABOVE |
6 | Description of shares (including class), debentures or derivatives or financial instruments relating to shares: | ORDINARY SHARES |
7 | Name of registered shareholders(s) and, if more than one, the number of shares held by each of them | MR. JOHN ST JOHN |
8 | State the nature of the transaction. | SALE AND PURCHASE OF ORDINARY SHARES INTO A SAVINGS ACCOUNT IN CONNECTION WITH CGT PLANNING |
9 | Number of shares, debentures or financial instruments relating to shares acquired | 8,176 ORDINARY SHARES OF ONE PENNY EACH |
10 | Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage) | 0.00% |
11 | Number of shares, debentures or financial instruments relating to shares disposed.
| 8,275 ORDINARY SHARES OF ONE PENNY EACH |
12 | Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) | 0.00% |
13 | Price per share or value of transaction
| SALE £1.290892 PENCE PER SHARE PURCHASE £1.293134 PER SHARE
|
14 | Date and place of transaction:
| 21 MARCH 2012 LONDON |
15 | Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
| 177,823 ORDINARY SHARES 0.02 % OF ISSUED SHARE CAPITAL
|
16 | Date issuer informed of transaction:
| 22 MARCH 2012 LONDON |
17 | Date of grant: | N/A |
18 | Period during which or date on which exercisable | N/A |
19 | Total amount paid (if any) for grant of the option:
| N/A |
20 | Description of shares or debentures involved (class and number)
| ORDINARY SHARES OF ONE PENNY EACH |
21 | Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise:
| N/A |
22 | Total number of shares or debentures over which options held following notification | OPTIONS TO SUBSCRIBE FOR 400,000 ORDINARY SHARES
|
23 | Any additional information
| N/A |
24 | Name of contact and telephone number for queries:
| ELEKWACHI UKWU
+ 44 (0) 20745 197 55 |
25 | Name of duly authorised officer of issuer responsible for making notification: | ELEKWACHI UKWU
|
26 | Date of notification
| 22 MARCH 2012
|
AFR.L (AFR)