Director/PDMR Shareholdings & Options Cancellation

RNS Number : 0923S

Diversified Energy Company PLC

12 July 2022

 

12 July 2022

 Diversified Energy Company PLC

("Diversified" or the "Company")

Director/PDMR Shareholdings and Cancellation of Share Options

Diversified Energy Company PLC (LSE: DEC) announces the market purchase of ordinary shares of 1p each in the Company ("Ordinary Shares") purchased by members of Diversified's senior management team and an Executive Director on 8 July 2022. The Company also announces its agreement on 8 July 2022 to cancel certain outstanding share options previously awarded under the Company's 2017 Equity Incentive Plan.

Purchase of Shares by Members of Senior Management Team

Brad Gray, Executive Director of the Company's Board of Directors, Chief Operating Officer and Executive Vice President, acquired 25,000 Ordinary Shares through the market at an average price of 111.3 pence per Ordinary Share. Following this purchase, Mr. Gray is now interested in 2,394,782 Ordinary Shares representing approximately 0.281% of the Company's issued share capital.

Eric Williams, Chief Financial Officer and Executive Vice President, acquired 10,000 Ordinary Shares through the market at an average price of 111.2 pence per Ordinary Share. Following this purchase, Mr. Williams is now interested in 434,954 Ordinary Shares representing approximately 0.051% of the Company's issued share capital.

Cancellation of Share Options

On 8 July 2022,  Diversified executed an agreement to cancel 4,540,000 outstanding share options previously awarded to certain employees as well as members of senior management (excluding the Company's Executive Directors) in May 2019 under the Company's 2017 Equity Incentive Plan. Such options will be surrendered to the Company for cancellation. Following the cancellation, 12,679,998 options remain outstanding.

This notification complies with LR 12.5.2R in relation to the cancellation of the options.

For further information, please contact:

Diversified Energy Company PLC	[phone]
Wren Smith	[e-mail]
www.div.energy
FTI Consulting	[e-mail]
US & UK Financial Public Relations

About Diversified Energy Company PLC

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Brad Gray
2	Reason for the notification
a)	Position/status	Executive Director of the Company's Board of Directors, Chief Operating Officer and Executive Vice President
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company 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	Ordinary Shares of 1 pence each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£1.113	25,000
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 July 2022
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Eric Williams
2	Reason for the notification
a)	Position/status	Chief Financial Officer and Executive Vice President
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Energy Company 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	Ordinary Shares of 1 pence each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£1.112	10,000
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 July 2022
f)	Place of the transaction	London Stock Exchange (XLON)

 

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