EBT Share Sale and Director Dealing
The Company was notified on 13 May 2015 by Genesis Trust & Corporate Services Limited, the trustee of the Company’s Employee Benefit Trust (“EBT”) that on 13 May 2015 the EBT commenced the process of the transfer of, in aggregate, 4,346,988 ordinary shares of USD0.00005 each in the Company ("Ordinary Shares") to its sole beneficiaries, Lekan Akinyanmi and David Robinson.
Following the transfer:
The EBT holds nil Ordinary Shares.
Lekan Akinyanmi has a total beneficial shareholding in Lekoil of 41,674,343 Ordinary Shares, representing 11.5 per cent. of the issued share capital of the Company; and
David Robinson has a total beneficial shareholding in Lekoil of 9,598,250 Ordinary Shares, representing 2.6 per cent. of the issued share capital of the Company.
Other than a bonus, from May 2013 until November 2014, Lekan Akinyanmi and David Robinson received no remuneration in cash from Lekoil. The share transfers represent remuneration due to the CEO and CFO from May 2013 till November 2014 and are in accordance with the terms agreed at the time of the IPO in May 2013.