LEKOIL

Investor news

22.11.2013

Total Voting Rights & Directors’ Holdings Update

Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa, announces that, further to the passing of all the resolutions at yesterday’s EGM, Lekoil’s issued share capital now consists of 329,906,233 ordinary shares of US$0.00005 each.

 

Each of these ordinary shares carries one voting right. The number of voting rights is therefore 329,906,233. This figure should be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Lekoil under the FCA's Disclosure and Transparency Rules.

 

The Company would also like to take this opportunity to update the market on the shareholdings of the Directors in Lekoil which, despite there being no share acquisitions or disposals by any Director, have been diluted since the Company’s admission to AIM in May 2013 as a result of the Company’s two successfully completed placings.

 

The number of shares currently held and the percentage holding, as well as the respective option holding, for each Director is set out below:

 

Director

Number of
  Shares Held

Percentage  
  Holding

Number of
  Options Held*

Samuel   Adegboyega

1,160,000

0.35%

750,000

Olalekan   Akinyanmi

39,138,601

11.86%

5,480,000

David   Robinson

7,787,004

2.36%

1,600,000

Gregory   Eckersley

2,753,050

0.83%

1,162,500

Aisha   Oyebode

256,250

0.08%

187,500

Atedo   Peterside

256,250

0.08%

187,500

John Van   der Welle

nil

nil

187,500


* All options have an exercise price of US$0.75 and an exercise period of 10 years from the date of grant (as disclosed in the Company’s admission document.

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