Westmount Energy Limited (the “Company”), was incorporated in Jersey on 1 October 1992 under the Companies (Jersey) Law 1991, as amended, and is a public company with registered number 53623. The Company now operates solely as an energy investment company. The shares of the Company commenced trading on the Alternative Investment Market (“AIM”) at 15p on 2 October 1995. The middle market closing share price on 30 June 2010 was 98.5p (30 June 2009: 32.5p). Following the re-organisations and increases of the Company’s share capital on 22 December 2005, 30 January 2009, 28 January 2011, 11 December 2015, 2 May 2017, 16 May 2017, 4 March 2019, 21 March 2019, 23 August 2019, 28 August 2019, 6 November 2019, 27 May 2020, 23 September 2020 and the exercise of warrants on 23 February 2018, 21 March 2018, 3 April 2018, 25 April 2018, 2 May 2018 and 14 May 2018 the Company now has a total of 144,051,486 shares of Nil Par value each in issue held by approximately 1,100 shareholders. The company’s shares are traded on UK AIM (WTE.L) and US OTCQB (WMELF). There are no treasury shares currently in issue and there are no restrictions on the transfer of the Company’s securities.
Shares held by Directors
The total number of shares held by Directors as at 1 April 2021 is 21,821,804 shares.
There are share options outstanding over 2,250,000 Nil Par value shares exercisable at a subscription price of 7.5p per share originally expiring 31 December 2019, which were extended on 1 November 2019 and now expire 31 December 2021. There are 1,500,000 options over Nil Par value shares exercisable at a subscription price of 14.0p per share expiring 31 March 2024, and 750,000 options over Nil Par value shares exercisable at a subscription price of 17.0p per share expiring 31 July 2023
Shares not held in public hands
As far as the Company is aware the total number of shares not regarded as being held in public hands as at 1 April 2021 is 27,071,804 shares, i.e. 18.79%.
Statement of shareholder rights
The Company is incorporated in Jersey as a public company under the Companies (Jersey) Law, 1991 (the “Companies Law”), and as such the rights of shareholders of the company may differ from the rights of shareholders of a UK incorporated company. The holders of ordinary shares only benefit from those protections or rights reflected in the memorandum and articles of association of the Company and any further rights conferred by Jersey law, in particular the Companies Law.
The Company is subject to AIM Rules and the Disclosure and Transparency Rules (the “DTRs”). In order to assist the Company in complying with its obligations under the AIM Rules and DTRs, shareholders should please note that, any shareholder who acquires an interest in the Company equal to or exceeding 3% of the issued shares (a “Notifiable Interest”) is required to notify the Company forthwith of such interest. In addition, having acquired a Notifiable Interest, a shareholder is required to notify the Company forthwith (a) of any increase or decrease in his or her Notifiable Interest which crosses a 1% threshold and/or (b) if he or she ceases to hold such a Notifiable Interest.
The Company is subject to the UK City Code on Takeovers and Mergers.
The information on this website is being disclosed in accordance with rule 26 of the AIM rules.