Director/PDMR Shareholding

RNS Number : 8040V
Diversified Gas & Oil PLC
26 July 2018
 

26 July 2018

Diversified Gas & Oil PLC

("DGO" or the "Company")

 

Grant of Share Options

 

Diversified Gas & Oil PLC (AIM: DGOC), a leading US based gas and oil producer, announced the acquisition of EQT entities holding certain gas and oil assets and the accompanying share placing on 29 June 2018.  The announcement set out the recommendation of the Remuneration Committee that options over 15,450,000 DGO ordinary shares of 1p each be granted to a total of 17 executive Directors and senior employees (the "Share Options").

 

The award of Share Options has been confirmed by the board at the recommendation of the Remuneration Committee and the Company announces that it has granted the Share Options to the following executive Directors and persons discharging managerial responsibilities ("PDMRs"), pursuant to the Company's Share Option Scheme (the "Scheme"):

 


Existing share-holding

% of existing share capital

Existing options held(1)

New Options granted

Total options
held

Total share options % of issued share capital

Executive Directors







Robert "Rusty" Hutson Jr

20,000,000

3.95%

0

6,000,000

6,000,000

1.18%

Bradley Gray

2,210,481

0.44%

0

2,750,000

2,750,000

0.54%

PDMR







Eric Williams

0

-

110,000

1,750,000

1,860,000

0.37%

Michael Garrett

0

-

75,000

750,000

825,000

0.16%

Bryan Berry

0

-

0

750,000

750,000

0.15%

(1)  Options granted in the form of Restricted Stock Units

 

 

In summary the terms of the Share Options are:

·     The Shares Options granted to the executive Directors and PDMRs will be exercisable at a price of 84 pence per share;

·     The Share Options will vest in three equal tranches following publication of the Annual Report & Accounts in respect of the years ending 31 December 2020, 31 December 2021 and 31 December 2022;

·     One third of the Share Options will be exercisable without performance-based vesting conditions;

·     The remaining two thirds of the Share Options will be exercisable subject to the satisfaction of certain performance-based vesting conditions.

 

Following the above grants, the Company has a total of 16,245,002 ordinary shares currently under option, representing approximately 3.21 per cent of the Company's issued share capital.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information, please contact:

 



Diversified Gas & Oil PLC

Rusty Hutson Jr., Chief Executive Officer

Brad Gray, Chief Operating Officer and Finance Director

Eric Williams, Chief Financial Officer

www.dgoc.com

 

+ 1 (205) 408 0909

 



Smith & Williamson Corporate Finance Limited

(Nominated Adviser)

Russell Cook

Katy Birkin

Ben Jeynes

 

+44 (0)20 7131 4000

 



Mirabaud Securities Limited

(Joint Broker)

Peter Krens

Edward Haig-Thomas

 

+44 (0)20 3167 7221

 



Stifel Nicolaus Europe Limited

(Joint Broker)

Callum Stewart

Nicholas Rhodes

Ashton Clanfield

 

+44 (0)20 7710 7600



Buchanan

(Financial Public Relations)

Ben Romney

Chris Judd

Henry Wilson

dgo@buchanan.uk.com

+44 (0)20 7466 5000

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Robert "Rusty" Russell Hutson Jr

2

Reason for 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

Diversified Gas & Oil plc

b)

LEI

213800YR9TFRVHPGOS67

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 of 1 pence each

 

ISIN:  GB00BYX7JT74

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

84.0P

6,000,000

d)

Aggregated information

-   Aggregated volume

-    Price


e)

Date of the transaction

25 July 2018

f)

Place of the transaction

XOFF

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Bradley Grafton Gray

2

Reason for Notification

a)

Position/status

Finance Director and US 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

Diversified Gas & Oil plc

b)

LEI

213800YR9TFRVHPGOS67

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 of 1 pence each

 

ISIN:  GB00BYX7JT74

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

84.0P

2,750,000

d)

Aggregated information

-   Aggregated volume

-    Price


e)

Date of the transaction

25 July 2018

f)

Place of the transaction

XOFF

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Eric Michael Williams

2

Reason for 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

Diversified Gas & Oil plc

b)

LEI

213800YR9TFRVHPGOS67

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 of 1 pence each

 

ISIN:  GB00BYX7JT74

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

84.0P

1,750,000

d)

Aggregated information

-   Aggregated volume

-    Price


e)

Date of the transaction

25 July 2018

f)

Place of the transaction

XOFF

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michael Walton Garrett

2

Reason for Notification

a)

Position/status

Vice President of Accounting and Controller

b)

Initial notification/Amendment

Initial Notification

3

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

a)

Name

Diversified Gas & Oil plc

b)

LEI

213800YR9TFRVHPGOS67

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 of 1 pence each

 

ISIN:  GB00BYX7JT74

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

84.0P

750,000

d)

Aggregated information

-   Aggregated volume

-    Price


e)

Date of the transaction

25 July 2018

f)

Place of the transaction

XOFF

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Bryan Keith Berry

2

Reason for Notification

a)

Position/status

Vice President of Finance

b)

Initial notification/Amendment

Initial Notification

3

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

a)

Name

Diversified Gas & Oil plc

b)

LEI

213800YR9TFRVHPGOS67

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 of 1 pence each

 

ISIN:  GB00BYX7JT74

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

84.0P

750,000

d)

Aggregated information

-   Aggregated volume

-    Price


e)

Date of the transaction

25 July 2018

f)

Place of the transaction

XOFF

 

 

 


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