|
FOR IMMEDIATE RELEASE 23 April 2008
SIRIUS EXPLORATION PLC (“Sirius” or the “Company”)
ISSUE OF SHARES
The Company has issued, in respect of fees the following new Ordinary Shares of 0.25p each (“Ordinary Shares”):
| Shareholder
| Number of Ordinary Shares Issued | | Pacific Corporate Management Limited (1) | 2,200,000 | | Derek Charles William Stonley - (director) | 366,665 | | Easy Business Consulting Limited (2) | 1,200,000 | | Dr Nicholas Badham - (director) | 1,920,000 | | Nibex Limited (3) | 480,000 | |
Professional Fees |
| | Jarvis Nominees Limited | 1,400,000 | | Beaumont Cornish Limited | 1,800,000 | | Cubitt Consulting Limited | 2,125,292 | | Rivington Street Holdings | 603,950 | | SP Angel & Company Limited | 705,000 | | Vizards Tweedie LLP | 2,000,000 | | Total | 14,800,907 | 1. Pacific Corporate Management Limited is a consulting company. Mr Poulden is employed by Pacific Corporate Management Limited. He has no interest direct or indirect in that company. Mr Jonathan Harrison is a director and shareholder of Easy Business Consulting Limited. Dr Nicholas Badham is a director and shareholder of Nibex Limited.
All the above Ordinary Shares have been issued at a price of 2.5p per share being the opening bid price on 8 April 2008 following the lifting of the suspension in trading in the Company’s shares on AIM.
The issue of a total of 6,166,665 new Ordinary Shares, representing 7.37% of the enlarged share capital of the Company, to the Directors and companies associated with the Directors is a related party transaction under the AIM Rules. Professor Michael Mainelli, the independent Director, having consulted with the Company’s Nominated Adviser, considers that the terms of this transaction are fair and reasonable insofar as the shareholders are concerned.
Directors and substantial shareholders interests
Following the issue of the above shares, the position will be:
| Name | Beneficial holding of Ordinary Shares | % of the enlarged issued share capital
| Non-beneficial holding of Ordinary Shares | % of the englarged issued share capital | | Director’s
|
|
|
|
| | Richard Poulden | 275,400 | 0.33 | - | - | | Dr Nicholas Badham | 9,367,067 | 11.19 | - | - | | Jonathan Harrison | 4,100,000 | 4.9 | - | - | | Dr Michael Mainelli | Nil | - | - | - | | Derek Stonley | 366,665 | 0.44 | - | - | |
|
|
|
|
| | Substantial Shareholders
|
|
|
|
| | St Cloud Capital S.A (4) | 2,000,000 | 2.39 | - | - | | Ashton Nominees Inc (4) | 7,340,002 | 8.77 | - | - | | Panther Executive Pension Scheme (5) | 8,000,000 | 9.56 | - | - | | Easy Business Consulting Limited (6) | 3,200,000 | 3.82 | - | - | | Phelps Dodge Exploration Corporation | 3,690,000 | 4.41 | - | - | | Beaumont Cornish Limited (7) | 3,300,000 | 3.94 | - | - |
4. Ashton Nominees Inc holds 7,340,002 Ordinary Shares. The beneficial owner of these shares is the Malvern Trust, a discretionary trust under which Mr Richard Poulden’s family are potential beneficiaries. St Cloud Capital SA holds 2,000,000 Ordinary Shares. The beneficial owner of these shares is the Malvern Trust, a discretionary trust under which Mr Richard Poulden’s family are potential beneficiaries. 5. Panther Executive Pension Scheme is a pension scheme of which Mr Poulden is the beneficiary. 6. Easy Business Consulting Limited holds 3,200,000 Ordinary Shares. Mr Jonathan Harrison is a director and shareholder of this company. 7. Including warrants to subscribe for 200,000 Ordinary Shares.
Application will be made for the 14,800,907 new Ordinary Shares, which will rank, pari passu, with all existing ordinary shares to be admitted to trading on AIM and trading of the new Ordinary Shares is expected to commence on 29 April 2008.
Following the above issue there will be 83,680,418 Ordinary Shares in issue.
A copy of this announcement is available on the Company’s website: www.siriusexploration.com
Contact:
Richard Poulden, Sirius Exploration Plc on 01453 511900 or 07769 721512 Roland Cornish, Beaumont Cornish Limited on 020 7628 3396. |
News 
