PHAROS ENERGY PLC — Director's Dealing 2014

Jul 1, 2014

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RNS Number : 9940K

Soco International PLC

01 July 2014

SOCO International plc

("SOCO" or the "Company")

DIRECTORS/PDMR SHAREHOLDING

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

The Company announces that on 30 June 2014, Antony Maris, Chief Operating Officer of the Company and a Person Discharging Managerial Responsibilities under the DTRs, exercised Options to acquire SOCO ordinary shares of £0.05 each ("Shares"), as follows:

Options exercised	Shares received by Mr Maris	Option Price per Share	Date of original grant	Share Scheme
176,410	78,494	£0.6621	3 Sept 2004	1997 Company Share Option Plan
44,102	44,102	£0.6621	3 Sept 2004	1997 Company Share Option Plan (HMRC Approved Addendum)
220,512	122,596

The Option Price for Options exercised under the HMRC Approved Addendum has been settled in cash. For the remaining Options, the Board of Directors has determined that, in this instance, it serves the best interest of the Company and its shareholders, and in agreement with Mr Maris, to deliver only the net number of Shares to Mr Maris after deducting the number of Shares, being 97,916 Shares, which otherwise would be sold to settle the Option Price and associated tax liabilities. The associated tax liabilities will therefore be settled and remitted by the Company and no shares will be sold.  The 122,596 new shares will be issued from the Company's  Block Listing.

Following both exercises, Mr Maris is interested in a total of 131,197 Shares representing 0.04% of the voting rights of the Company and 433,003 Options. 

[ENDS]

Contact:  Carol Fan, SOCO International plc, Tel 020 7747 2000

This information is provided by RNS

The company news service from the London Stock Exchange

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