Business
Share re-org / Director Hldng
Share re-org / Director Hldng.
About this update from Westmount Energy Limited
[{"type":"text","content":"\n Westmount Energy Limited\n22 May 2006\n\n-------------------------------------------------------------------------------------\n \n\n WESTMOUNT ENERGY LIMITED\n\n COMPLETION OF SHARE CAPITAL RE-ORGANISATION\n\n CHANGE IN DIRECTOR'S SHAREHOLDING\n\nThe Chairman, Mr Derek G. Williams, of Westmount Energy Limited ('the Company')\nwas pleased to announce today, that the Share Capital Re-organisation of the\nCompany, approved at the Extraordinary General Meeting held on 22 December 2005\nhas been fully implemented.\n\nCapital of the equivalent of 50p per 10p Ordinary Share totalling approximately\n£7,500,000 has been returned to shareholders and shareholders have also received\none Consolidated Ordinary Share of 20p for every two Ordinary Shares of 10p\nheld.\n\nThe total sum of £5,836,679 was returned to shareholders on 31 January 2006 and\nthe balance of £1,670,001.50 was returned on 1 May 2006 to those shareholders\nelecting for a later repayment date.\n\nThere are now 7,506,680 20p Ordinary Shares in issue traded on AIM held by\napproximately 1,500 shareholders. There are also Share Options outstanding over\n750,000 20p Ordinary Shares, exercisable at a subscription price of 103.5p per\nshare, over various periods expiring 31 December 2012.\n\nThe shareholdings of the Directors of the Company and their outstanding Share\nOptions are now as follows:\n\n ----------- ----------- ----------\n Number of 20p % of 20p Number of\n Ordinary Shares Ordinary Shares Share Options\n in Issue\n ----------- ----------- ----------\n\nDerek G. Williams *1,005,939 13.40 150,000\nPeter J. Richardson 139,988 1.86 150,000\nMarc S.D. Yates 139,988 1.86 150,000\nPaul R. Anderson - - 150,000\n ----------- ----------- ----------\n 1,285,915 17.12 600,000\n ----------- ----------- ----------\n\n* Following the sale of 162,500 ordinary shares to a family trust on 19 May 2006\n at 137p per share this number now includes 750,939 shares held non-beneficially.\n\nNote for Editors:\n\nWestmount Energy Limited ('Westmount') is a Jersey based AIM quoted Energy\nInvestment Company. Its present investments include, 30,000,000 shares of AIM\nquoted Sterling Energy plc, 5,500,000 shares of AIM quoted Desire Petroleum plc,\na £500,000 convertible loan of AIM quoted CDS Oil & Gas Group plc and 244,000\nshares of presently unquoted Eclipse Energy Company Limi...