IPL Indago Pet

 

TIDMIPL 
 
RNS Number : 1617V 
Indago Petroleum Limited 
06 July 2009 
 

 
 
 
 
 
 
 
 
 
 
INDAGO PETROLEUM LIMITED 
("Indago" or "the Company") 
Directors' dealings 
 
 
As part of the arrangements for the proposed liquidation of the Company, Mr 
Martin Groak, an executive director, and Mr Erdinc Nick Zana, a non-executive 
director, have concluded individual termination arrangements with the Company 
which include the waiving of options over Indago shares as described below. 
These options were exercisable at a price below the expected liquidation value 
per share. 
Options over 342,857 Ordinary shares exercisable by Mr Groak at a price of 5p 
per share have been waived. The amount payable in compensation to Mr Groak as 
part of his overall termination settlement is GBP77,860. 
 
 
Options over 233,333 Ordinary shares exercisable by Mr Zana at a price of 5p per 
share have been waived. The amount payable in compensation to Mr Zana is 
GBP72,333. 
 
The above arrangements are referred to in the circular to Indago shareholders 
dated 18 June 2009 containing the notice of the general meeting to be held on 10 
July 2009. No other director has options exercisable at below the expected 
liquidation value per share. 
6 July 2009 
-Ends- 
Enquiries: 
 
 
+--+--------------------------------+----------------------------------+ 
| Indago Petroleum Limited          |                                  | 
+-----------------------------------+----------------------------------+ 
|  | Tim Eggar, Chairman            | +44 (0) 7771 597 499             | 
|  | Martin Groak, CFO              | + 44 (0) 20 7096 3461            | 
+--+--------------------------------+----------------------------------+ 
|                                   |                                  | 
+-----------------------------------+----------------------------------+ 
| Ambrian Partners Limited          | +44 (0) 20 7634 4856             | 
| (Nomad and Broker)                |                                  | 
+-----------------------------------+----------------------------------+ 
|  | Richard Swindells              |                                  | 
+--+--------------------------------+----------------------------------+ 
|                                   |                                  | 
+-----------------------------------+----------------------------------+ 
| College Hill Associates           | + 44 (0) 20 7457 2020            | 
+-----------------------------------+----------------------------------+ 
|  | Paddy Blewer                   |                                  | 
|  | Nick Elwes                     |                                  | 
+--+--------------------------------+----------------------------------+ 
|  |                                |                                  | 
+--+--------------------------------+----------------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RDSEANXKESLNEEE 
 

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