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Prospex Oil and Gas - Award of Share Options

RNS Number : 5636O
Prospex Oil and Gas PLC
01 June 2020
 

Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas

1 June 2020

Prospex Oil and Gas Plc

("Prospex" or the "Company")

Award of Share Options 

 

Prospex Oil and Gas Plc, the AIM quoted investment company, announces that it has today awarded a total of 142,626,506 options over new Ordinary Shares in the Company to members of the Board and other staff (the 'Options').  The Options awarded represent 6.44% of the currently issued share capital of the Company.

 

The Options have been awarded with a strike price of 0.16p per ordinary share, being a 33% premium to the price at which the Company completed its recent Placing as announced on 30 January 2020 and a 33% premium to the mid-market closing share price of the Company's Ordinary Shares on 29 May 2020.  The Options will vest immediately and are exercisable for a period of 3 years.

 

The Options issued are set out below:

 

 

Number of Options awarded

Total shares options now held over share capital of Company

Edward Dawson

 33,029,296

 49,969,569

Richard Mays

 20,267,977

 30,663,145

James Smith

 20,267,977

 30,663,145

William Smith

 20,267,977

 30,663,145

Other staff / personnel (non-PDMR)

 48,793,278

 68,043,588

Total

 142,626,506

 210,002,593

 

 

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

 

* * ENDS * *

 

For further information visit www.prospexoilandgas.com or contact the following:

Edward Dawson

Prospex Oil and Gas Plc

Tel: +44 (0) 20 3948 1619

Rory Murphy
Ritchie Balmer
Jack Botros

 

Strand Hanson Limited

 

Tel: +44 (0) 20 7409 3494

 

Colin Rowbury

Jon Belliss

Novum Securities Limited

Tel: +44 (0) 20 7399 9427

Duncan Vasey

Peterhouse Corporate Finance

 

Tel: +44 (0) 20 7469 0932

Frank Buhagiar

Cosima Akerman

 

St Brides Partners Ltd

 

Tel: +44 (0) 20 7236 1177 

 

Notes

Prospex Oil and Gas Plc is an AIM quoted investment company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company's management is looking to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low cost re-evaluation techniques to identify and de-risk prospects.

 

PDMR Notifications

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Edward Dawson

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas Plc

b)

LEI

213800NY9RH8O1B72D27

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

Ordinary shares of 0.1p each in the share capital of the Prospex Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares over the next 3 years

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.16p pence

33,029,296

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

 1 June 2020

f)

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Mays

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas Plc

b)

LEI

213800NY9RH8O1B72D27

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

Ordinary shares of 0.1p each in the share capital of the Prospex Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares over the next 3 years

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.16p

20,267,977

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

1 June 2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Smith

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas Plc

b)

LEI

213800NY9RH8O1B72D27

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

Ordinary shares of 0.1p each in the share capital of the Prospex Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares over next 3 years

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.16p

20,267,977

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

1 June  2020

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

William Smith

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas Plc

b)

LEI

213800NY9RH8O1B72D27

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

Ordinary shares of 0.1p each in the share capital of the Prospex Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares over next 3 years

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.16p

20,267,977

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

1 June 2020

f)

Place of the transaction

Outside a trading venue

 


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.
 
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