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Hurricane Energy PLC - Director/PDMR Shareholding

RNS Number : 0416A
Hurricane Energy PLC
24 September 2020
 

24 September 2020

Hurricane Energy plc

 

("Hurricane" or the "Company")

 

Director/PDMR Shareholdings

 

Hurricane Energy plc, the UK based oil and gas company, has been notified of transactions by Hurricane directors and Persons Discharging Managerial Responsibility ("PDMRs") in ordinary shares of £0.001 each in the Company ("Ordinary Shares").

 

A summary of the transactions follows:

 

Name

Position

Ordinary Shares Purchased

Average Price Paid per Ordinary Share

Steven McTiernan

Chairman

150,000

2.9700p

Dr David Jenkins

Non-Executive Director

145,000

2.9718p

John van der Welle

Non-Executive Director

150,000

2.9300p

Sandra Shaw

Non-Executive Director

164,474

3.0400p

Beverley Smith

Non-Executive Director

334,448

2.9900p

Antony Maris

Chief Executive Officer

169,084

2.9571p

Steve Holmes

Chief Operations Officer

49,198

3.0187p

 

The below information is intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

 

1.

Details of the person discharging managerial responsibilities

a)

Name:

a)   Steven McTiernan

b)   Dr David Jenkins

c)   John van der Welle

d)   Sandra Shaw

e)   Beverley Smith

f)    Antony Maris

g)   Steve Holmes

2.

Reason for the notification

a)

Position/status:

a)   Chairman

b)   Non-Executive Director

c)   Non-Executive Director

d)   Non-Executive Director

e)   Non-Executive Director

f)    Chief Executive Officer

g)   Chief Operations Officer

b)

Initial notification/Amendment:

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Hurricane Energy plc

b)

LEI:

2138007Z66OO4XWKM819

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Ordinary shares of 0.1p each in Hurricane Energy plc ("Shares")

ISIN: GB00B580MF54

b)

Nature of the transaction:

Open market purchase of Shares.

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

a)   2.9700p

b)   2.9718p

c)   2.9300p

d)   3.0400p

e)   2.9900p

f)    2.9571p

g)   3.0187p

a)   150,000

b)   145,000

c)   150,000

d)   164,474

e)   334,448

f)    169,084

g)   49,198

 

d)

Aggregated information:

See above 4 (c)

e)

Date of the transaction:

(a)/(b)/(c)/(e)/(f)/(g): 23 September 2020

(d): 24 September 2020

f)

Place of the transaction:

London Stock Exchange (AIM)

 

 

Contacts: 

 

Hurricane Energy plc

Antony Maris, Chief Executive Officer

Philip Corbett, Head of Investor Relations

 

 

+44 (0)1483 862 820

Stifel Nicolaus Europe Limited

Nominated Adviser & Joint Corporate Broker

Callum Stewart / Ashton Clanfield

 

 

+44 (0)20 7710 7600

Morgan Stanley & Co. International plc

Joint Corporate Broker

Andrew Foster / Tom Perry / Alex Smart

 

+44 (0)20 7425 8000

Vigo Communications

Public Relations

Patrick d'Ancona / Ben Simons

[email protected]

+44 (0)20 7390 0230

 

About Hurricane

 

Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf.

The Lancaster field (100% owned by Hurricane) is the UK's first producing basement field. Hurricane is pursuing a phased development of Lancaster, starting with an Early Production System consisting of two wells tied-back to the Aoka Mizu FPSO. Hydrocarbons were introduced to the FPSO system on 11 May 2019 and the first oil milestone was achieved on 4 June 2019.

In September 2018, Spirit Energy farmed-in to 50% of the Lincoln and Warwick assets, committing to a phased work programme targeting sanction of an initial stage of full field development.

Glossary

FPSO

Floating production storage and offloading vessel

Spirit Energy

Spirit Energy Limited

 

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Quick facts: Hurricane Energy PLC

Price: 2.2626

Market: LSE
Market Cap: £45.07 m
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