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viewi3 Energy PLC

Issue of Share Options

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RNS Number : 8669S
i3 Energy PLC
08 November 2019
 

i3 Energy plc

("i3" or the "Company")

 

Issue of Share Options

 

i3 Energy plc announces that it has issued options over a total of 2,142,859 ordinary shares ("Options"), granted conditionally upon the completion of the Placing announced earlier today, to directors and key management in accordance with the rules of the Company's Share Option Plan. The exercise price of the Options will be £0.35 per share, the issue price of today's Placing Shares.

 

The number of Options issued to directors are as follows:

 

 

Options issued

Richard Ames

23,058

Linda Beal

23,058

Neill Carson

23,058

Graham Heath

243,755

David Knox

150,000

Majid Shafiq

296,458

 

The Options hold the following vesting conditions:

 

·      One-third upon a successful well result at the A2 well proving commercial hydrocarbons;

·      One-third upon securing funding for the Liberator Phase I or Serenity development; and

·    One-third on increasing gross reserves to 50 million barrels or achieving first oil from the Company's licences.

 

Regardless of the above, 100% of the options will vest at first oil from the Company's licences or if there is a change of control of the Company.

 

Immediately following this announcement, the Company has in issue 93,433,685 Ordinary Shares of £0.0001 each, 5,000 deferred shares of £10.00 each, 2,875,244 share options with an exercise price of £0.55 each, 2,737,828 options with an exercise price of £0.635 each, 6,020,000 options with an exercise price of £0.395, and 2,142,859 conditional Options with an exercise price of £0.35 each.

 

ENDS

 

 

CONTACT DETAILS:

 

i3 Energy plc

 

 

Majid Shafiq (CEO) / Graham Heath (CFO)

c/o Camarco

Tel: +44 (0) 203 781 8331

 

 

WH Ireland Limited (Nomad and Joint Broker)

 

 

James Joyce, James Sinclair-Ford

Tel: +44 (0) 207 220 1666

 

GMP FirstEnergy (Joint Broker)

 

 

Jonathan Wright

Tel: +44 (0) 207 448 0200

 

 

Canaccord Genuity Limited (Joint Broker)

Henry Fitzgerald- O'Connor, James Asensio

 

Tel: +44 (0) 207 523 8000

 

 

Camarco

Jennifer Renwick, James Crothers

 

Tel: +44 (0) 203 781 8331

 

 

 

 

 

 

 

 

 

Notes to Editors:

i3 is an oil and gas development company initially focused on the North Sea. The Company's core asset is the Greater Liberator Area, located in Blocks 13/23d and 13/23c, to which i3's independent reserves auditor attributes 11 MMBO of 2P Reserves, 22 MMBO of 2C Contingent Resources and 47 MMBO of mid-case Prospective Resources. The Greater Liberator Area consists of the Liberator oil field discovered by well 13/23d-8 and the Liberator West extension. The Greater Liberator Area, along with the Company's Serenity Prospect located in the northern half of Block 13/23c and for which it carries a STOIIP of 197 MMbbls, are owned and operated on a 100% working interest basis.

 

The Company's strategy is to acquire high quality, low risk producing and development assets, to broaden its portfolio and grow its reserves and production.

 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Maid Shafiq

2

Reason for the notification

a)

Position/status

CEO

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Options over ordinary shares

 

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.35

296,458

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

296,458

£0.35

e)

Date of the transaction

08/11/2019

f)

Place of the transaction

Off market

           

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Graham Heath

2

Reason for the notification

a)

Position/status

CFO

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Options over ordinary shares

 

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.35

243,755

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

243,755

£0.35

e)

Date of the transaction

08/11/2019

f)

Place of the transaction

Off market

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Ames

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Options over ordinary shares

 

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.35

23,058

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

23,058

£0.35

e)

Date of the transaction

08/11/2019

f)

Place of the transaction

Off market

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Neill Carson

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Options over ordinary shares

 

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.35

23,058

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

23,058

£0.35

e)

Date of the transaction

08/11/2019

f)

Place of the transaction

Off market

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

David Knox

2

Reason for the notification

a)

Position/status

Non-Executive Chairman

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Options over ordinary shares

 

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.35

150,000

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

150,000

£0.35

e)

Date of the transaction

08/11/2019

f)

Place of the transaction

Off market

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Linda Beal

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Options over ordinary shares

 

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.35

23,058

 

d)

Aggregated information

-     Aggregated volume

-     Price

 

23,058

£0.35

e)

Date of the transaction

08/11/2019

f)

Place of the transaction

Off market

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCQVLFBKFFZFBB

Quick facts: i3 Energy PLC

Price: 19

Market: AIM
Market Cap: £17.75 m
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