Extension of Warrants
Northern announces that the warrants due to lapse on 30 November 2005 and 31 December 2005, held by directors and staff, have all had their terms extended. The Remuneration Committee, and subsequently the Board of Directors of Northern, has resolved to extend the exercise period of the warrants held by Directors and staff until 28 July 2006. The Company received notification on 29 November 2005 from all class warrant holders agreeing to the variation.
The warrants held by directors and staff which have been subject to this extension are:
|
Name |
Number of Warrants over Ordinary 5p Shares |
Exercise Price |
|
D.R Musgrove |
660,000 |
11.250p |
|
|
250,000 |
15.625p |
|
R.H.R Latham |
280,000 |
11.25p |
|
|
120,000 |
15.625p |
|
J.M White |
280,000 |
11.25p |
|
|
120,000 |
15.625p |
|
D.A Roberts |
100,000 |
11.25p |
|
|
80,000 |
15.625p |
|
C.J Foss |
200,000 |
12.50p |
|
Employees |
400,000 |
11.25p |
|
|
450,000 |
12.50p |
For further details please contact:
Chris Foss
Northern Petroleum Plc
020 7743 6080
Chris Roberts/Ben Simons
Hansard Communications
020 7245 1100