RNS Number : 4288T
Sound Oil PLC
17 July 2015

17 July 2015


Sound Oil plc

("Sound Oil" or the "Company")


Exercise of Options, Issue of Equity and Director's Dealings


Sound Oil, the Mediterranean focused upstream gas company, announces that the Company has today issued a total of 1,499,999 new ordinary shares of 1p each in the Company (the "New Ordinary Shares") following option exercises, which include an exercise of options by James Parsons, a director of the Company.


On 17 July 2015 James Parsons, Sound Oil's Chief Executive Officer, exercised options to subscribe for 1,333,333 new ordinary shares in the Company at a price of 6.5 pence per new ordinary share.


Application will be made for the New Ordinary Shares to be admitted to trading on AIM and it is expected that dealings will commence on 23 July 2015.  Following the issue of the New Ordinary Shares, the Company will have 499,464,711 Ordinary Shares in issue and there are no shares held in treasury. This is the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Rules and Transparency Rules.


The Company has also today been notified that, on 17 July 2015, James Parsons disposed of 1,333,333 ordinary shares in the Company (the same number as those created by the option exercise) at an average price of 17.50 pence per ordinary share and 160,000 ordinary shares at a price of 18.56 pence per share.  James Parsons has also, for tax optimization reasons, transferred 100,000 ordinary shares in the Company to his wife for nil consideration.  As a result of these transactions, and following his exercise of options described above, James Parsons is now interested in 884,603 ordinary shares in the Company, representing 0.18 per cent. of the Company's issued ordinary share capital, and a further 5,130,000 share options.



For further information please contact:


Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon

Alexandra Roper


Tel: 44 (0)20 7016 9573

Sound Oil

James Parsons, Chief Executive Officer




Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes


Tel: 44 (0)20 7131 4000

Peel Hunt - Broker

Richard Crichton

Charles Batten


Tel: 44 (0)20 7418 8900


This information is provided by RNS
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