SOURCE: Xcite Energy Ltd

January 04, 2011 02:20 ET

Xcite Energy Limited ("Xcite Energy" or the "Company") Director/PDMR Shareholding

ABERDEENSHIRE, UK--(Marketwire - January 4, 2011) - Xcite Energy Limited (TSX-V: XEL) (LSE: XEL) (AIM: XEL)

This announcement is not for release, publication or distribution in or into the United States.

The Company announces that it has received communication of the intention to exercise 100,000 options to purchase ordinary shares of the Company ("Ordinary Shares") at C$0.74 per share by Gregory Moroney, a director of the Company. The options were issued to Mr. Moroney pursuant to the Company's stock option plan.

Following the issuance of the 100,000 Ordinary Shares subject to the exercised options, Mr. Moroney will hold 300,000 options to purchase Ordinary Shares. Mr Moroney does not hold any Ordinary Shares other than the 100,000 Ordinary Shares resulting from the exercise of the options.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • ENQUIRIES:

    Xcite Energy Limited
    +44 (0)1330 826740
    Richard Smith
    Chief Executive Officer
    Rupert Cole
    Chief Financial Officer

    Arbuthnot Securities Limited
    (Nomad and Broker)
    +44 (0)20 7012 2000
    Antonio Bossi
    Director

    Pelham Bell Pottinger
    +44 (0) 20 7861 3232
    Mark Antelme
    Director
    Henry Lerwill

    Paradox Public Relations
    +1 514 341 0408
    Jean-Francois Meilleur
    Consultant