Petrel Resources : Notification of Transactions

RNS Number : 6429A

Petrel Resources PLC

22 January 2020

Notification of Transactions by Persons Discharging Managerial Responsibilities

and Persons Closely Associated with them

[This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of theEuropean Parliament and of the

Council of 16 April 2014 on market abuse (Market Abuse Regulation)]

1	Details of the person discharging managerial responsibilities/person closely
	associated
a)	Name		Michel Fayad
2	Reason for the	notification
a)	Position/status		Non-Executive Director
b)	Initial		Amendment notification
	Notification
	Amendment
3	Details of the	issuer, emission allowance market participant, auction
	platform, auctioneer or auction monitor
a)	Name		PETREL RESOURCES PLC
b)	LEI		213800WAVVOPS85N2205
4	Details of the	transaction(s): section to be repeated for (i) each type of
	instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
	where transactions have been conducted
a)	Description of		Ordinary Shares of 1.25 cent each
	the financial		ISIN: IE0001340177
	instrument,
	type of
	instrument
	Identification
	code
b)	Nature of the		Disposal of Shares
	transaction
c)	Price(s) and
	volume(s)		Price(s)	Volume(s)
			Nil	14,934,615
d)	Aggregated		14,934,615 Ordinary Shares
	information
	- Aggregated		Nil
	volume
	- Price
e)	Date of the		23rd December 2019
	transaction
f)	Place of the		Outside a trading venue
	transaction
g)	Additional		Michel Fayad is making this disclosure, however, the nature of
	Information
			this transaction is subject to a dispute between himself and the
			counter party who he understands to be a Delaware company
			EYCP LLC. Mr Fayad when the authorised the transfer of the
			above shares he believed that he was not making a disclosable
			transaction as it did not fall within Article 19(7)(a) of the Market
			Abuse Regulation as he was transferring the relevant shares into
			custody without it being designated to secure a specific credit
			facility. Mr Fayad understands that EYCP dispute this and claim
			that upon transfer the shares were designated to secure a
			particular facility despite no funds being advanced under that
			facility to Mr Fayad or any others."

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