Award of Shares under the Share Incentive Plan

RNS Number : 1507U

Hurricane Energy PLC

13 January 2017

 

13 January 2017

Hurricane Energy plc

Award of Shares under the Share Incentive Plan

Hurricane Energy plc (AIM: HUR.L, "Hurricane" or the "Company"), announces that it received notification on 13 January 2017 that, following payroll contributions made on 13 January 2017, MM & K Plan Trustees Limited ("SIP Trustee"), trustee of the Hurricane Energy plc Share Incentive Plan ("SIP"), awarded 227,726 ordinary shares of £0.001 each in the Company ("Ordinary Shares") to participants in the SIP at a price of 49 pence per share, being the closing mid-market price on 12 January 2017.

The SIP award has been partly satisfied by the issue of 127,726 new Ordinary Shares to the SIP Trustee at a subscription price of £0.001 per share, being the nominal value of the shares.

Each participating employee will receive an allocation of Partnership Shares (being shares acquired at market value using contributions deducted from employees' pre-tax salaries; "Partnership Shares"), Matching Shares (being ordinary shares of twice the number of Partnership Shares acquired by an employee which are paid for by the Company; "Matching Shares") and Free Shares (being ordinary shares to a value not exceeding £3,600 in the current tax year, which are paid for by the Company; "Free Shares").

Under the SIP, the following directors of the Company purchased or were awarded the following number of Ordinary Shares:

Name	Number of Partnership Shares	Number of Matching Shares	Number of Free Shares
Dr Robert Trice	3,673	7,346	7,346
Alistair Stobie	3,673	7,346	7,346
Neil Platt	3,673	7,346	7,346

The aggregate of their beneficial holdings are now as follows:

Name	Number of Ordinary Shares	%
Dr Robert Trice	26,260,024	2.18%
Alistair Stobie	18,365	0.002%
Neil Platt	621,116	0.05%

Application has been made for 127,726 new Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place on 19 January 2017.  The shares will rank pari passu with the existing Ordinary Shares.

Following the SIP Awards, Hurricane's total issued and voting share capital will comprise 1,202,988,123 Ordinary Shares.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Contact details:

Hurricane Energy plc Dr Robert Trice, Chief Executive Officer Alistair Stobie, Chief Financial Officer	[phone]
Cenkos Securities plc Nominated Adviser and Joint Broker Derrick Lee/Nick Tulloch/Beth McKiernan	[phone]
Macquarie Capital (Europe) Limited Joint Broker Alex Reynolds/Guy de Freitas	[phone]
Vigo Communications Patrick d'Ancona/Ben Simons	[phone]

About Hurricane

Hurricane is an oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. The Company's focus is to discover, appraise and develop oil reserves in basement rock. Hurricane has already successfully discovered substantial volumes of oil on the UKCS. The Company has 444-470 mmboe of 2C Contingent Resources and 432-442 mmboe of P50 Prospective Resources on acreage it controls 100%.

Further information on Hurricane can be found at: www.hurricaneenergy.com.

 

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