Director Shareholdings and Stock Options Exercise

RNS Number : 8199F

Diversified Energy Company PLC

23 March 2022

 

23 March 2022

Diversified Energy Company PLC

("Diversified" or the "Company")

Director Shareholdings and Stock Options Exercise

Diversified Energy Company PLC (LSE: DEC) announces a market purchase by a member of the Company's Board of Directors (the "Board") of ordinary shares of 1p each in the Company ("Ordinary Shares"). The Company also announces the exercise of vested Stock Options (and related share dealings), previously awarded to members of its senior management team and an Executive Director, on 23 March 2022.

Acquisition of Shares by a Member of the Board

On 22 March 2022, Martin Thomas, Non-Executive Vice Chair of the Company's Board, acquired 35,000 Ordinary Shares through the market at an average price of £1.1621 per Ordinary Share. Following this purchase, Mr. Thomas is now interested in 2,200,000 Ordinary Shares, which represents approximately 0.26% of the Company's issued share capital as of the transaction date.

Exercise of Stock Options and Related Share Dealings

On 22 March 2022, Diversified issued and allotted an aggregate of 414,514 new ordinary shares of 1p each in the Company (the "New Shares") (net of exercise costs and withholding tax) (1) related to members of the Company's senior management team and (2) an Executive Director exercising 2,370,002 vested Stock Options previously awarded from which the Company withheld 1,955,488 shares to satisfy, by way of net settlement, the underlying  £0.84 exercise price and related employee tax withholdings. The table below sets out the details of the exercise and vesting activity:

	Gross Shares Vested and Exercised	Exercise Price	Number of Shares Withheld	Net Number of Shares Issued
Brad G. Gray	916,667	£0.84	749,688	166,979
Eric Williams	1,108,334	£0.84	929,132	179,202
Other(a)	345,001	£0.84	276,668	68,333
(a) Represents other senior members of Diversified's management team not qualifying as a PDMRs

Diversified has applied for the New Shares to be admitted to the Premium Listing Segment of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange PLC, and expects admission to occur on or around 30 March 2022. The New Shares will rank pari passu in all respects with the Company's existing ordinary shares of 1p each.

Concurrent to the   exercise of Stock Options Bradley G. Gray, an Executive Director, Executive Vice President and Chief Operating Officer, elected to sell the newly allotted 166,979 net shares in the open market at a price of £1.178 per Ordinary Share.

Upon the issuance of and concurrent sale of shares (as applicable), updated PDMR shareholdings are as follows:

	Number of Shares Issued	Number of Shares Sold	Updated Total Number of Holdings	% of Issued Share Capital
Bradley G. Gray	166,979	(166,979)	2,369,782	0.28%
Eric Williams	179,202	n/a	424,954	0.05%

Including the New Shares, the Company has 850,461,065 Ordinary Shares in issue and holds no Ordinary Shares in treasury. Shareholders may use 850,461,065 as the denominator in calculations to determine if they must notify the Company of their interest in, or a change to their invested interest under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Diversified Energy Company PLC	[phone]
Jim Sheehan
www.div.energy
[e-mail]
Buchanan	[phone]
Financial Public Relations
Ben Romney
Chris Judd
Jon Krinks
James Husband
[e-mail]

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.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Martin Thomas
2	Reason for the notification
a)	Position/status	Non-Executive Vice Chair
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 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£1.1621	35,000
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	22 March 2022
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bradley G. Gray
2	Reason for the notification
a)	Position/status	Executive Vice President & 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 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	Exercise of stock options constituting a right to acquire Ordinary Shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	a.  Exercise of options b.  Net Settlement Withholding c.  Sale of Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		a.  £0.84 b.  £1.184 c.  £1.178	a.  916,667 b.  749,688 c.  166,979
d)	Aggregated information
	Aggregated volume	Net Settlement of Options Exercised - 166,979 Sales - 166,979
	Price	Net Settlement of Options Exercised - £Nil Sales - £1.178
e)	Date of the transaction	22 March 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	Executive Vice President & 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 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	Exercise of stock options constituting a right to acquire Ordinary Shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	a.  Exercise of options b.  Net Settlement Withholding
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		a.  £0.84 b.  £1.184	a.  1,108,334 b.  929,132
d)	Aggregated information
	Aggregated volume	Net Settlement of Options Exercised - 179,202
	Price	Net Settlement of Options Exercised - £Nil
e)	Date of the transaction	22 March 2022
f)	Place of the transaction	London Stock Exchange (XLON)

 

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