08:59 Thu 02 Jul 2020
Solo Oil Plc - Director / PDMR Shareholdings
("Solo" or "the Company")
Director / PDMR Shareholdings
Solo (AIM: SOLO), the AIM investing company targeting attractive production and development opportunities within the European energy market, makes the following announcement in respect of certain disclosable transactions carried out by its directors and persons discharging managerial responsibilities ("PDMRs") following the Company's announcement on
Grant of Director Options
As was announced on
The Director Options have been granted in lieu of the cash salary and/or directors' fees due to the holders of the Director Options over the period from
The number of Ordinary Shares initially granted under each Director Option have an aggregate value equal (on a net basis, after deduction of the nominal exercise price per Ordinary Share) to the salary and/or fees due to the relevant option holder (but currently unpaid) up to
As also announced, each Director Option has been granted in settlement of future cash salary and/or directors' fees that would be due to be paid to the relevant option holder over the period from the grant date to
One-Off Share Award to
As was also announced on
The Ordinary Shares comprised in the Share Award have been delivered from the existing Ordinary Shares held as trust assets within the Company's
It has been agreed with
Incentive awards
As was also announced on
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Number of Ordinary Shares granted under Incentive Awards |
Directors |
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12,854,945 |
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12,854,945 |
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12,854,945 |
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6,427,473 |
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PDMR |
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6,427,473 |
Each Incentive Award has been delivered as an option over Ordinary Shares with an exercise price of 1.3p per Share, which is approximately a 24 per cent premium to the closing mid-market price of the Company's Ordinary Shares on
Each Incentive Option will ordinarily become exercisable on the second anniversary of the grant date, except in the event of specified corporate events or, exceptionally, if the option holder leaves as a 'good leaver'.
The Notification of Dealing Forms can be found below.
AGM approval
The Company does not currently have sufficient headroom under its standing authority from shareholders to allot shares to satisfy the exercise of the Director Options or the Incentive Options with newly-issued shares. The Board intends to seek authority to allot the appropriate number of shares from shareholders at the Company's next AGM, which will be convened following the posting of the Company's 2019 Annual Report. That authority will also cover certain shares to be issued to
This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
For further information:
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+44 (0) 20 7440 0642 |
Strand |
+44 (0) 20 7409 3494
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Buchanan, Financial PR |
+44 (0) 20 7466 5000
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1. |
Details of the person discharging managerial responsibilities/ person closely associated |
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a) |
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2. |
Reason for the notification |
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a) |
Position/status |
Director / PDMR
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b) |
Initial notification/ Amendment
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Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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b) |
LEI |
213800Z1HYXMO2FSDM70
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument
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Ordinary shares of
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Identification code |
ISIN: GB00BF1BK408 |
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b) |
Nature of the transaction |
Grant of a nominal cost option over ordinary shares of
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c) |
Price(s) and volume(s)
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d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
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e) |
Date of the transaction |
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f) |
Place of the transaction |
Outside a trading venue |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
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Identification code |
ISIN: GB00BF1BK408 |
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b) |
Nature of the transaction |
Grant of an option ordinary shares of
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c) |
Price(s) and volume(s)
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d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
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e) |
Date of the transaction |
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f) |
Place of the transaction |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities/ person closely associated |
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a) |
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2. |
Reason for the notification |
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a) |
Position/status |
Director / PDMR
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b) |
Initial notification/ Amendment
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Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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b) |
LEI |
213800Z1HYXMO2FSDM70
|
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
|||||
a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
|
||||
Identification code |
ISIN: GB00BF1BK408 |
|||||
b) |
Nature of the transaction |
Grant of a nominal cost option over ordinary shares of
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
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e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
|||||
a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
|
||||
Identification code |
ISIN: GB00BF1BK408 |
|||||
b) |
Nature of the transaction |
Grant of an option ordinary shares of
|
||||
c) |
Price(s) and volume(s)
|
|
||||
d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities/ person closely associated |
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a) |
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2. |
Reason for the notification |
|||||
a) |
Position/status |
Director / PDMR
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b) |
Initial notification/ Amendment
|
Initial Notification |
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
b) |
LEI |
213800Z1HYXMO2FSDM70
|
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
|||||
a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
|
||||
Identification code |
ISIN: GB00BF1BK408 |
|||||
b) |
Nature of the transaction |
Grant of a nominal cost option over ordinary shares of
|
||||
c) |
Price(s) and volume(s) |
|
||||
d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
|||||
a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
|
||||
Identification code |
ISIN: GB00BF1BK408 |
|||||
b) |
Nature of the transaction |
Grant of an option ordinary shares of
|
||||
c) |
Price(s) and volume(s)
|
|
||||
d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities/ person closely associated |
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a) |
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2. |
Reason for the notification |
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a) |
Position/status |
Chairman / PDMR
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b) |
Initial notification/ Amendment
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Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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||||
b) |
LEI |
213800Z1HYXMO2FSDM70
|
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
|||||
a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
|
||||
Identification code |
ISIN: GB00BF1BK408 |
|||||
b) |
Nature of the transaction |
Grant of an option ordinary shares of
|
||||
c) |
Price(s) and volume(s)
|
|
||||
d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
|||||
a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
|
||||
Identification code |
ISIN: GB00BF1BK408 |
|||||
b) |
Nature of the transaction |
Award of ordinary shares of
|
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c) |
Price(s) and volume(s)
|
|
||||
d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
|
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1. |
Details of the person discharging managerial responsibilities/ person closely associated |
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a) |
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2. |
Reason for the notification |
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a) |
Position/status |
Chief Operating Officer / PDMR
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b) |
Initial notification/ Amendment
|
Initial Notification |
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
a) |
|
|
||||
b) |
LEI |
213800Z1HYXMO2FSDM70
|
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted |
|||||
a) |
Description of the financial instrument, type of instrument
|
Ordinary shares of
|
||||
Identification code |
ISIN: GB00BF1BK408 |
|||||
b) |
Nature of the transaction |
Grant of an option ordinary shares of
|
||||
c) |
Price(s) and volume(s)
|
|
||||
d) |
Aggregated information
Aggregated volume Price |
Not applicable - single transaction |
||||
e) |
Date of the transaction |
|
||||
f) |
Place of the transaction |
Outside a trading venue |
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