Maple Energy, an integrated energy company with assets in Peru, was notified on 28 May 2012 that on the same day Mr. Tony Hines, Senior Vice President and Executive Director, and Mr. Nabil Katabi, Project Development Manager, each entered into a sale and repurchase agreement (collectively, the "Agreements") through the Lima Stock Exchange for the sale and repurchase of up to 97,880 and 61,825 ordinary shares beneficially owned by Mr. Tony Hines and Mr. Nabil Katabi, respectively.

Under the terms of the Agreements, Mr. Tony Hines and Mr. Nabil Katabi sold 97,880 and 61,825 ordinary shares, respectively, at a price of $1.03 (66p) per ordinary share, while assuming an obligation to repurchase those same shares at a price of $1.09 (69p) per ordinary share on 26 November 2012. Mr. Tony Hines and Mr. Nabil Katabi have used the proceeds from these transactions to fulfill their repayment obligations outstanding under existing sale and repurchase agreements that became due on 28 May 2012, details of which were announced on 30 September 2011.

Tags: Maple Energy plc