Sheba Exploration (UK) plc

August 19, 2009 02:00 ET

Directors Shareholding Notification


                                      Sheba Exploration (UK) Plc

                                  Directors Shareholding Notification

Sheba  Exploration  (UK) Plc is pleased to announce the purchase on 18/08/2009 of  1,466,666  ordinary
shares  by  two  of their Directors. In the light of the current economic situation and  the  need  to
conserve working capital Sheba Exploration (UK) Plc Directors' have agreed to receive ordinary  shares
in lieu of salary.

The following shares have been issued:-

-  Richard Brooker (Finance Director) - 933,333 shares of par value 0.75 pence
-  Gavin Conway (Non-Executive Director) - 533,333 shares of par value 0.75 pence

The  shares  were  issued  at a price equivalent to their par value following  the  independent  share
valuation by the company's auditors. There were no conditions or warrants attached to the share issue.

Richard  Brooker is now interested in 4,073,333 ordinary shares in the Company representing 4.52%  and
Gavin  Conway  is now interested in 2,083,333 ordinary shares representing 2.31% of the  issued  share
capital. The total number of shares in issue following the share placement is 90.127 million of  which
the directors hold 34.57%.

The Directors of Sheba Exploration (UK) Plc accept responsibility for this announcement.

Contact Details:
Sheba Exploration (UK) Plc
Richard Brooker
Tel: 00 353 87699 8401

Corporate Adviser:
St Helen's Capital Plc
Duncan Vasey
Tel: 020 7628 5582

Contact Information

  • Sheba Exploration (UK) plc