DIRECTOR / PDMR DEALINGS

RNS Number : 5307V

Afentra PLC

10 August 2022

 

10 August 2022

AFENTRA PLC

DIRECTOR / PDMR DEALINGS

Afentra plc ('Afentra' or the 'Company') announces that on 5 August 2022 the Company made conditional awards under the  Founders Share Plan (the "Founders Plan"), the principal terms of which were previously set out in the Company's report and accounts, to the executive directors of the Company as set out below:

Director / PDMR	Position	Percentage entitlement of conditional award
Paul McDade	Chief Executive Officer	41.5%
Anastasia Deulina	Chief Financial Officer	27.5%
Ian Cloke	Chief Operating Officer	31.0%

The conditional awards comprise a conditional right to be granted a nil cost option over Ordinary Shares of the Company on the basis set out in paragraph 6.1.3 of Part 7 of the Company's admission document published on the date hereof.  The conditional awards are subject to the completion of the acquisition by the Company's subsidiary, Afentra (Angola) Ltd of a 20% interest in Block 3/05 , offshore Angola from Sonangol P&P pursuant to a sale and purchase agreement dated 20 April 2022.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Paul McDade
2.	Reason for the notification
a.	Position/status	Chief Executive Officer
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Afentra plc
b.	LEI	21380028BFDFJK8BRX92
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 £0.10 per share par value GB00B4X3Q493
b.	Nature of the transaction	Conditional award of right to be granted nil cost options
c.	Price(s) and volume(s)	Price(s) Volume(s) n/a  Such number of shares as equals 41.5% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant
d.	Aggregated information ·Aggregated volume ·Price	As above
e.	Date of the transaction	5 August 2022
f.	Place of the transaction	Off exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Anastasia Deulina
2.	Reason for the notification
a.	Position/status	Chief Financial Officer
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Afentra plc
b.	LEI	21380028BFDFJK8BRX92
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 £0.10 per share par value GB00B4X3Q493
b.	Nature of the transaction	Conditional award of right to be granted nil cost  ptions
c.	Price(s) and volume(s)	Price(s) Volume(s) n/a  Such number of shares as equals 27.5% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant
d.	Aggregated information ·Aggregated volume ·Price	As above
e.	Date of the transaction	5 August 2022
f.	Place of the transaction	Off exchange

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Ian Cloke
2.	Reason for the notification
a.	Position/status	Chief Operating Officer
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Afentra plc
b.	LEI	21380028BFDFJK8BRX92
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 £0.10 per share par value GB00B4X3Q493
b.	Nature of the transaction	Conditional award of right to be granted nil cost options
c.	Price(s) and volume(s)	Price(s) Volume(s) n/a  Such number of shares as equals 31.0% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant
d.	Aggregated information ·Aggregated volume ·Price	As above
e.	Date of the transaction	5 August 2022
f.	Place of the transaction	Off exchange

For further information, contact

Afentra plc  [phone]   Paul McDade, CEO Anastasia Deulina, CFO

Buchanan (Financial PR) [phone] Ben Romney Jon Krinks

Peel Hunt LLP (Nominated Advisor and Joint Broker)  [phone] Richard Crichton Paul Gillam David McKeown

Tennyson Securities (Joint Broker)  [phone] Peter Krens About Afentra Afentra plc (AIM:AET) is an upstream oil and gas company focused on opportunities in Africa. The Company's purpose is to support a responsible energy transition in Africa by establishing itself as a credible partner for divesting IOCs and Host Governments.  Afentra has a current carried interest in the Odewayne Block onshore southwestern Somaliland.

 

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