Directors’ Share Dealing

The Company has been informed of the following recent transactions by Directors:

In the Open Offer Philip Stephens, Non-executive Chairman, purchased 12,890 shares; Mark Abbott, Managing Director, purchased 50,563 ordinary shares; Andrew Lodge, non-executive Director purchased 31,250 shares and Kenneth Rafcliff, non-executive Director purchased 9,984 shares; all at the Open Offer price of 13.5p.

A trust of which Walter Roberts, non-executive director and company secretary, is a trustee distributed 70,182 shares to each of the two beneficiaries thus reducing his beneficial holding although none of these shares have been sold.

Following these transactions and in order to update the percentages following the recent placing and open offer, the holdings of those Directors holding shares in the Company are as set out in the following table.

Director Holding of Ordinary Shares Percentage of Enlarged Share Capital
Philip Stephens 112,890 0.04%
Mark Abbott 7,864,387 3.04%
Andrew Lodge 531,250 0.21%
Kenneth Ratcliff 169,743 0.07%
Walter Roberts 974,129 0.38%

 

 

Public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.


 

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Philip Stephens
2 Reason for notification
a) Position / status PDMR/Chairman
b) Initial notification/Amendment

Initial notification

 

3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Egdon Resources plc
b) LEI NA
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

 

Identification code

 Ordinary Shares of 1 pence each

 

 

NA

b) Nature of the transaction Open Offer purchase
c) Price(s) and volumes(s)
Price Volume
13.5 pence 12,890
d)

Aggregated information

Aggregated Volume

Price

 

 

12,890

 13.5 pence

 

e) Date of the transaction 29 November 2016
f) Place of the transaction London Stock Exchange

 

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Mark Abbott
2 Reason for notification
a) Position / status PDMR/Managing Director
b) Initial notification/Amendment

Initial notification

 

3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Egdon Resources plc
b) LEI NA
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

 

Identification code

 Ordinary Shares of 1 pence each

 

 

NA

b) Nature of the transaction Open Offer purchase
c) Price(s) and volumes(s)
Price Volume
13.5 pence 50,563
d)

Aggregated information

Aggregated Volume

Price

 

 

 50,563

 13.5 pence

 

e) Date of the transaction 29 November 2016
f) Place of the transaction  London Stock Exchange
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Andrew Lodge
2 Reason for notification
a) Position / status PDMR/Non-Executive Director
b) Initial notification/Amendment

Initial notification

 

3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Egdon Resources plc
b) LEI NA
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

 

Identification code

 Ordinary Shares of 1 pence each

 

 

NA

b) Nature of the transaction Open Offer purchase
c) Price(s) and volumes(s)
Price Volume
13.5 pence 31,250
d)

Aggregated information

Aggregated Volume

Price

 

 

 31,250

 13.5 pence

 

e) Date of the transaction 29 November 2016
f) Place of the transaction London Stock Exchange

 

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Ken Ratcliff
2 Reason for notification
a) Position / status PDMR/Non-Executive Director
b) Initial notification/Amendment

Initial notification

 

3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Egdon Resources plc
b) LEI NA
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

 

Identification code

 Ordinary Shares of 1 pence each

 

 

NA

b) Nature of the transaction Open Offer purchase
c) Price(s) and volumes(s)
Price Volume
13.5 pence 9,984
d)

Aggregated information

Aggregated Volume

Price

 

 

9,984

 13.5 pence

 

e) Date of the transaction 29 November 2016
f) Place of the transaction London Stock Exchange

 

30 November 2016

Result of Open Offer

Egdon announces the result of the Open Offer for up to approximately £2.06 million at 13.5 pence per share, further details of which were set out in the Open Offer Circular (the “Circular”) despatched to Shareholders on 8 November 2016.

The Open Offer has been 1.3 times oversubscribed and valid acceptances have been received in respect of the entirety of the Open Offer Shares.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement.

Applications under the Excess Entitlements Facility will be scaled back in accordance with the terms of the Open Offer.

Application will be made for these 15,234,093 Open Offer Shares, which will rank pari passu in all respects with the Existing Ordinary Shares, to be admitted to trading on the AIM Market of the London Stock Exchange. It is expected that Admission of the Open Offer Shares will occur, and dealings will commence at 8.00 a.m. on 29 November 2016.

The Company has, to date, raised total gross proceeds from the Subscription and Open Offer of approximately £5.06 million via the issuance of 37,456,315 Subscription Shares and Open Offer Shares.

The participation in the Open Offer by Petrichor Holdings Coöperatief, U.A.(1), a substantial shareholder in the Company, constitutes a related party transaction for the purposes of the AIM Rules. The directors of Egdon, having consulted with the Company’s nominated adviser, Cantor Fitzgerald Europe, consider that the terms of the related party transaction are fair and reasonable insofar as the Company’s shareholders are concerned.

Following Admission, the Company’s enlarged issued share capital will comprise 258,879,583 Ordinary Shares, with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights will be 258,879,583. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.

Mark Abbott, Managing Director of Egdon, commented:

“We are delighted to have received such a positive response from our existing shareholders to the Open Offer which was oversubscribed. Having raised gross proceeds of £5.06 million from the Subscription and Open Offer, Egdon is now well capitalized to deliver on our strategy. Our near term focus will include gaining the final consent for the development of the Wressle oil field, progressing the Company’s 14th Round licence evaluations and moving the “A” Prospect to drillable status.”

All defined terms in this announcement have the meanings given to them in the Circular.

Notes:

(1) Shares previously held by HEYCO International, Inc. have been transferred to an associate company, Petrichor Holdings Coöperatief, U.A.. Following the Open Offer Petrichor Holdings Coöperatief, U.A will hold, in total, 42,112,229 shares (16.27%) in the Company. HEYCO Energy Group, Inc. is the ultimate parent company of both companies.

25 November 2016

UK Onshore Licence Interest Acquisition

Egdon Resources plc (AIM:EDR) is pleased to announce the acquisition of an additional interest in PEDL201 in the Company’s East Midlands core area.

Egdon will acquire a 12.5% interest in PEDL201 in the Widmerpool Gulf from Corfe Energy limited for an all share consideration of £50,000. The number of consideration shares will be calculated based on the average closing mid-price for the five days prior to the day of completion.

Egdon will have a 45.00% operated interest in PEDL201 following completion of this acquisition which will add a total of 2,471 net acres to Egdon’s licence holdings. The licence is considered by Egdon to hold significant prospectivity for both conventional and unconventional resources. The transaction is subject to Oil and Gas Authority approval.

Commenting on the acquisition, Mark Abbott, Managing Director of Egdon Resources plc, said:

“We are pleased to increase our operated interest in PEDL201 in the Widmerpool Gulf.  This acquisition is consistent with our strategy of enhancing our position in our core areas where we see significant oil and gas potential.”

16 November 2016

Springs Road Planning Decision

Egdon Resources plc (AIM:EDR) notes the announcement made today by operator IGas Energy plc (“IGas”) in relation to the decision of Nottinghamshire County Council’s Planning and Licensing Committee in respect of the Springs Road planning application. Egdon holds a 14.5% interest in PEDL140 where the proposed wells are located.

The IGas statement reads as follows;

“IGas Energy plc (“IGas”), one of the leading producers of hydrocarbons onshore Britain, is pleased to announce that Nottinghamshire County Council’s Planning and Licensing Committee has granted planning consent for the application to develop a hydrocarbon wellsite and drill up to two exploratory wells in Misson Springs, North Nottinghamshire.

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15 November 2016
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