Amerisur Resources PLC Exercise of share options (8047Z)

TIDMAMER

RNS Number : 8047Z

Amerisur Resources PLC

14 January 2020

Exercise of share options by PDMRs, issue of ordinary shares in Amerisur Resources plc to satisfy share options, application for admission to trading in respect of such ordinary shares and confirmation of total voting rights following issue of ordinary shares

As separately announced by Amerisur Resources plc ("Amerisur"), the oil and gas producer and explorer focused on Colombia, the Court has today sanctioned a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). Under the Scheme, the recommended cash acquisition pursuant to which GeoPark Colombia S.A.S. will acquire the entire issued and to be issued ordinary share capital of Amerisur (the "Transaction") will be implemented with the effective date expected to be 16 January 2020.

Issue of ordinary shares to satisfy share options following their exercise

Following Court sanction of the Scheme, Amerisur announces that it has today issued a total of 42,640,007 ordinary shares of 0.1p each in Amerisur ("Ordinary Shares") to satisfy option exercises under the Company's employee share plans. This comprises the following issues of Ordinary Shares:

-- 20,055,000 Ordinary Shares issued to non-PDMR employees based in the UK and Colombia following the exercise of their options held under the Amerisur Resources plc Long Term Incentive Plan ("LTIP");

-- 11,552,122 Ordinary Shares issued to Tracarta Ltd (a company in which John Wardle, Chief Executive Officer of Amerisur has an interest) following the exercise of its LTIP options as of today's date;

-- 2,032,885 Ordinary Shares issued to Nick Harrison (Chief Financial Officer) following the exercise of his LTIP options as of today's date;

-- 3,000,000 Ordinary Shares issued to satisfy an option granted to Giles Clarke (Chairman) on 22 December 2009, which was exercised on 20 December 2019;

-- 3,000,000 Ordinary Shares issued to satisfy an option held by Tracarta Ltd, which was granted on 22 December 2009 and which was exercised on 20 December 2019; and

-- 3,000,000 Ordinary Shares issued to satisfy an option granted to Nick Harrison on 22 December 2009, which was exercised on 20 December 2019.

Acquisition of Ordinary Shares by GeoPark Colombia S.A.S.

The above 42,640,007 Ordinary Shares will be acquired by GeoPark Colombia S.A.S. on 16 January 2020 under the Scheme, as further explained in the Scheme document sent to shareholders on 28 November 2019.

Application for admission to trading of Ordinary Shares

An application has been made to the London Stock Exchange for admission of the above 42,640,007 Ordinary Shares to trading on AIM ("Admission"). Admission is due to take place on 16 January 2020.

Total Voting Rights

Following the issue of the above Ordinary Shares, the Company will have 1,258,107,775 Ordinary Shares in issue with each share carrying the right to one vote. The total number of voting rights in the Company following Admission will therefore be 1,258,107,775.

The London Stock Exchange will be requested to cancel the admission to trading in the Company's shares on AIM following the Scheme becoming effective.

ENDS

Enquiries:

   Nathan Piper, Head of Business Development and Comms    Tel: +44 (0)330 333 8273

Amerisur Resources

Billy Clegg/Kimberley Taylor Tel: +44 (0)203 757 4983

Camarco

   Callum Stewart/Ashton Clanfield/Nicholas Rhodes                            Tel: +44 (0)20 7710 7600

Stifel Nicolaus Europe Limited

   Chris Sim/Alexander Ruffman/Tejas Padalkar                           Tel: +44 (0)207 597 4000

Investec

   Paul Shackleton/Dan Gee-Summons                                       Tel: +44 (0)207 614 5900

Arden Partners Plc

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January 14, 2020 13:30 ET (18:30 GMT)

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