JKX FD raises £333,000

JKX Oil & Gas's finance chief has raised more than £333,000 from a share sale.

Bruce Burrows sold 115,000 shares at 290p each to raise £333,500. He did subsequently spend £75,750 of that cash on taking up options over 50,000 shares at 151.5p each. That still leaves him with nearly £258,000 and 181,896 shares in JKX.

Burrows has been finance director of JKX for more than 13 years. Prior to this he worked for Ernst & Young.

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JKX is focused on oil and gas production and exploration in the Ukraine but it als has projects in Russia, Bulgaria, Georgia, Hungary and Slovakia.

Ukraine has just changed its tax code and this will lead to JKX paying substantially higher taxes on its production. The effective tax rate of the Ukrainian subsidiary is expected to rise from 30% to 50%.

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JKX Oil & Gas (JKX) Director name: Mr Bruce BurrowsAmount sold: 115,000 @ 290.00p Value: £333,500

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