ABERDEENSHIRE, UK, Dec. 23, 2010 (Marketwire) -- This announcement is not for release, publication or distribution in or into the United States.
The Company (TSX-V: XEL) (LSE: XEL) (AIM: XEL) announces that it has received communication yesterday of the sale of ordinary shares of nil par value ("Ordinary Shares") by overseas entities controlled by certain Directors of the Company.
The shares sold were as follows:
Number of Ordinary
Price Shares sold
Richard E. Smith Director £3.837 1,101,666
Stephen A. Kew Director £3.837 1,101,666
Rupert E. Cole Director £3.837 1,101,666
Resultant shareholdings in overseas entities controlled by the respective Directors above are as follows:
No of Ordinary Percentage of Xcite
Shares held Energy
Richard E. Smith Director 5,198,334 3.28%
Stephen A. Kew Director 5,212,619 3.29%
Rupert E. Cole Director 5,198,334 3.28%
An early warning report will be filed on SEDAR and will be obtainable from the SEDAR website (www.sedar.com).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Xcite Energy Limited
Chief Executive Officer
Chief Financial Officer
Arbuthnot Securities Limited
+44 (0)20 7012 2000
Pelham Bell Pottinger
Paradox Public Relations