FEC Reports on Further FEP Exercise of Options and Total Voting Rights
CALGARY, Alberta, May 31, 2012 /PRNewswire/ -- FEC RESOURCES INC. (OTCBB: FECOF, Frankfurt/Munich: FE8) ("FEC") wishes to advise shareholders that it has noted the following announcement made by Forum Energy PLC. ("FEP").
"May 31 2012
Exercise of Options and Total Voting Rights
The Board of Forum announces that certain employees yesterday exercised options over 425,000 ordinary shares of 10p each in the Company ("Ordinary Shares"), which the Company has now allotted. These shares will rank pari passu with the existing Ordinary Shares.
The options were granted under Forum's 2005 Share Option Plan.
Application has been made for these Ordinary Shares to be admitted to trading on AIM on 7 June 2012.
Following this issuance, the Company will have 35,549,533 ordinary shares of 10p each in issue.
The Company does not hold any Ordinary Shares in Treasury, therefore the total number of Ordinary Shares with voting rights is 35,549,533.
The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules."
The exercise of options in FEP has resulted in FEC's interest in FEP being diluted from 24.34% to 24.05%.
On behalf of the Board of
FEC Resources, Inc.
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any natural resources that may be located, variations in the market price of any natural resource products the Company may produce or plan to produce, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce natural resources from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's Annual Report on Form 20-F for the year ended December 31, 2011 and its most recent quarterly reports filed with the United States Securities Exchange Commission (the "SEC"), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov, and readers are urged to review these materials.
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