Grant of Options
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
13 July 2016
Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Grant of options
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, announces that it has today awarded a total of 3,560,000 options to buy Ordinary Shares of 1p each in the Company. The options are granted in recognition of the 20% salary cuts taken by the Board and office based staff while oil prices have been depressed. Together with the 11,885,000 options outstanding prior to this award the total of 15,445,000 represents 6.3% of the current issued share capital.
| Options Awarded | |
| Hugh Mackay | 1,600,000 |
| Phil Greenhalgh | 1,200,000 |
| Roderick Corrie | 150,000 |
| Other staff | 610,000 |
| Total | 3,560,000 |
All of the options have an exercise price of 6.5p (a 73% premium to the current share price) and are exercisable after 12 months, with a 10 year life.
The options awarded to Mr Corrie only vest if the share price is above 10p for a continuous period of 30 calendar days.
The options awarded to Mr Mackay & Mr Greenhalgh vest as follows:
- 50% if the share price is above 10p for a continuous period of 30 calendar days
- 35% on successful farm-out of the Company’s Irish acreage
- 15% on successful start-up of Wressle production
PDMR disclosures follows:
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||
| a) | Name | Roderick James Hugh McLeod Corrie | ||||||
| Reason for the Notification | ||||||||
| a) | Position/status | Director | ||||||
| b) | Initial notification/Amendment | Initial notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||||
| b) | LEI | Pending | ||||||
| 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 1p | ||||||
| Identification code | GB00B03CJS30 | |||||||
| b) | Nature of the transaction | Award of a 10 year option to purchase of shares | ||||||
| c) | Price(s) and volume(s) |
|
||||||
| d) | Aggregated information: | Option to buy 150,000 ordinary shares of 1 pence at 6.5 pence per ordinary share |
||||||
| e) | Date of the transaction | 12 July 2016 | ||||||
| f) | Place of the transaction | London | ||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||
| a) | Name | Hugh George Dunbar Mackay | ||||||
| Reason for the Notification | ||||||||
| a) | Position/status | Director | ||||||
| b) | Initial notification/Amendment | Initial notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||||
| b) | LEI | Pending | ||||||
| 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 1p | ||||||
| Identification code | GB00B03CJS30 | |||||||
| b) | Nature of the transaction | Award of a 10 year option to purchase of shares | ||||||
| c) | Price(s) and volume(s) |
|
||||||
| d) | Aggregated information: | Option to buy 1,600,000 ordinary shares of 1 pence at 6.5 pence per ordinary share |
||||||
| e) | Date of the transaction | 12 July 2016 | ||||||
| f) | Place of the transaction | London | ||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||
| a) | Name | Philip Greenhalgh | ||||||
| Reason for the Notification | ||||||||
| a) | Position/status | Director | ||||||
| b) | Initial notification/Amendment | Initial notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||||
| b) | LEI | Pending | ||||||
| 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 1p | ||||||
| Identification code | GB00B03CJS30 | |||||||
| b) | Nature of the transaction | Award of a 10 year option to purchase of shares | ||||||
| c) | Price(s) and volume(s) |
|
||||||
| d) | Aggregated information: | Option to buy 1,200,000 ordinary shares of 1 pence at 6.5 pence per ordinary share |
||||||
| e) | Date of the transaction | 12 July 2016 | ||||||
| f) | Place of the transaction | London | ||||||
* * ENDS * *
For further information please visit http://www.europaoil.com/ or contact:
| Hugh Mackay | Europa | + 44 (0) 20 7224 3770 |
| Phil Greenhalgh | Europa | + 44 (0) 20 7224 3770 |
| Matt Goode | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Simon Hicks | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Frank Buhagiar | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
| Susie Geliher | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
Notes
Europa Oi
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
13 July 2016
Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Grant of options
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, announces that it has today awarded a total of 3,560,000 options to buy Ordinary Shares of 1p each in the Company. The options are granted in recognition of the 20% salary cuts taken by the Board and office based staff while oil prices have been depressed. Together with the 11,885,000 options outstanding prior to this award the total of 15,445,000 represents 6.3% of the current issued share capital.
| Options Awarded | |
| Hugh Mackay | 1,600,000 |
| Phil Greenhalgh | 1,200,000 |
| Roderick Corrie | 150,000 |
| Other staff | 610,000 |
| Total | 3,560,000 |
All of the options have an exercise price of 6.5p (a 73% premium to the current share price) and are exercisable after 12 months, with a 10 year life.
The options awarded to Mr Corrie only vest if the share price is above 10p for a continuous period of 30 calendar days.
The options awarded to Mr Mackay & Mr Greenhalgh vest as follows:
- 50% if the share price is above 10p for a continuous period of 30 calendar days
- 35% on successful farm-out of the Company’s Irish acreage
- 15% on successful start-up of Wressle production
PDMR disclosures follows:
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||
| a) | Name | Roderick James Hugh McLeod Corrie | ||||||
| Reason for the Notification | ||||||||
| a) | Position/status | Director | ||||||
| b) | Initial notification/Amendment | Initial notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||||
| b) | LEI | Pending | ||||||
| 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 1p | ||||||
| Identification code | GB00B03CJS30 | |||||||
| b) | Nature of the transaction | Award of a 10 year option to purchase of shares | ||||||
| c) | Price(s) and volume(s) |
|
||||||
| d) | Aggregated information: | Option to buy 150,000 ordinary shares of 1 pence at 6.5 pence per ordinary share |
||||||
| e) | Date of the transaction | 12 July 2016 | ||||||
| f) | Place of the transaction | London | ||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||
| a) | Name | Hugh George Dunbar Mackay | ||||||
| Reason for the Notification | ||||||||
| a) | Position/status | Director | ||||||
| b) | Initial notification/Amendment | Initial notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||||
| b) | LEI | Pending | ||||||
| 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 1p | ||||||
| Identification code | GB00B03CJS30 | |||||||
| b) | Nature of the transaction | Award of a 10 year option to purchase of shares | ||||||
| c) | Price(s) and volume(s) |
|
||||||
| d) | Aggregated information: | Option to buy 1,600,000 ordinary shares of 1 pence at 6.5 pence per ordinary share |
||||||
| e) | Date of the transaction | 12 July 2016 | ||||||
| f) | Place of the transaction | London | ||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||||
| a) | Name | Philip Greenhalgh | ||||||
| Reason for the Notification | ||||||||
| a) | Position/status | Director | ||||||
| b) | Initial notification/Amendment | Initial notification | ||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||||
| b) | LEI | Pending | ||||||
| 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 1p | ||||||
| Identification code | GB00B03CJS30 | |||||||
| b) | Nature of the transaction | Award of a 10 year option to purchase of shares | ||||||
| c) | Price(s) and volume(s) |
|
||||||
| d) | Aggregated information: | Option to buy 1,200,000 ordinary shares of 1 pence at 6.5 pence per ordinary share |
||||||
| e) | Date of the transaction | 12 July 2016 | ||||||
| f) | Place of the transaction | London | ||||||
* * ENDS * *
For further information please visit http://www.europaoil.com/ or contact:
| Hugh Mackay | Europa | + 44 (0) 20 7224 3770 |
| Phil Greenhalgh | Europa | + 44 (0) 20 7224 3770 |
| Matt Goode | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Simon Hicks | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Frank Buhagiar | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
| Susie Geliher | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
Notes
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets that includes production, exploration and development interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. In 2015 Europa produced 141 boepd. Its highly prospective exploration projects include the Wressle development (targeting production startup late 2016 at up to 500 bopd gross) in the UK; 100% owned gas exploration prospect (107 bcf) and appraisal project (CPR 277 bcf) in onshore France, a joint venture with Vermillion Energy also in onshore France; and seven licences offshore Ireland with the potential to host gross mean un-risked prospective and indicative resources of more than 4 billion barrels oil and 1.5 TCF gas across all seven licences.
l & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets that includes production, exploration and development interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. In 2015 Europa produced 141 boepd. Its highly prospective exploration projects include the Wressle development (targeting production startup late 2016 at up to 500 bopd gross) in the UK; 100% owned gas exploration prospect (107 bcf) and appraisal project (CPR 277 bcf) in onshore France, a joint venture with Vermillion Energy also in onshore France; and seven licences offshore Ireland with the potential to host gross mean un-risked prospective and indicative resources of more than 4 billion barrels oil and 1.5 TCF gas across all seven licences.
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