Grant of Share Options

RNS Number : 9802J
Jersey Oil and Gas PLC
03 May 2022
 

3 May 2022

 

Jersey Oil and Gas plc

("Jersey Oil & Gas" or the "Company")

 

Grant of Share Options

 

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf ("UKCS") region of the North Sea, announces that, on 29 April 2022, it granted options over, in aggregate, 990,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to directors, senior management and employees at an exercise price of 230 pence per Ordinary Share (the "Options"), being the middle market closing price on 29 April 2022, the latest practicable date prior to this announcement.

 

Accordingly, a total of 3,594,002 option awards are outstanding following these latest grants, which represents approximately 11.0 per cent. of the Company's existing issued share capital of 32,554,293 Ordinary Shares.

 

Executive Directors

The following new Options have been granted to Executive Directors and/or Officers of the Company:

Name

Position

Number of New Options Granted

Exercise Price Per Ordinary Share (pence)

Exercise Period

Total Options Held Following This Grant

Andrew Benitz

Chief Executive Officer

290,000

230

7 years

650,000

Graham Forbes

Chief Financial Officer

150,000

230

7 years

500,000

Richard Smith

Chief Commercial Officer

150,000

230

7 years

500,000

 

The new Options set out in the table above for Executive Directors and/or Officer's all vest in three equal tranches (one, two and three years from the date of grant) and are subject to the satisfaction of certain performance conditions to be determined and interpreted at the discretion of the Remuneration Committee. Subject to vesting and such performance conditions being met, the new Options are exercisable for up to seven years from their date of grant and will lapse if not exercised by such date.

 

Non-Executive Directors

The following new Options have been granted to Non-Executive Directors of the Company:

 

Name

Position

Number of New Options Granted

Exercise Price Per Ordinary Share (pence)

Exercise Period

Total Options Held Following This Grant

Les Thomas

Non-Executive Chairman

75,000

230

5 years

75,000

Marcus Stanton

Non-Executive Director

30,000

230

 5 years

110,000

Frank Moxon

Non-Executive Director

30,000

230

5 years

80,000

 

The new Options set out in the table above for Non-Executive Directors all vest in three equal tranches (one, two and three years from the date of grant) and have no performance conditions.  Subject to vesting, the new Options are exercisable for up to five years from their date of grant and will lapse if not exercised by such date.

 

Senior Management and Employees

A further 265,000 new Options, in aggregate, have been granted to certain other members of senior management and employees at the same exercise price of 230 pence per Ordinary Share.

 

 

Enquiries :

Jersey Oil and Gas plc

 

Andrew Benitz, CEO

C/o Camarco:

Tel:  020 3757 4983

Strand Hanson Limited

James Harris

Matthew Chandler

James Bellman

Tel:  020 7409 3494

Arden Partners plc

Paul Shackleton

 

Tel: 020 7614 5900

finnCap Ltd

Christopher Raggett

Tim Redfern

Tel: 020 7220 0500

Camarco

Billy Clegg

James Crothers

Tel:  020 3757 4983

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

 

PDMR Notification Forms :

 

The notifications below are made in accordance with the requirements of MAR.

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andrew Benitz

2.

Reason for the Notification

a)

Position/status

Chief Executive Officer (Director)

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Jersey Oil & Gas plc

b)

LEI

213800RIR1SZC1734G32

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

Options over ordinary shares of 1 pence each in the Company

Identification code

GB00BYN5YK77

b)

Nature of the Transaction

Grant of Options over ordinary shares of 1 pence each in the Company

c)

Price(s) and volume(s)

Price(s) Volume(s)

230p  290,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

29 April 2022

f)

Place of the transaction

Outside of a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Les Thomas

2.

Reason for the Notification

a)

Position/status

Chairman

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Jersey Oil & Gas plc

b)

LEI

213800RIR1SZC1734G32

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

Options over ordinary shares of 1 pence each in the Company

Identification code

GB00BYN5YK77

b)

Nature of the Transaction

Grant of Options over ordinary shares of 1 pence each in the Company

c)

Price(s) and volume(s)

Price(s) Volume(s)

230p  75,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

29 April 2022

f)

Place of the transaction

Outside of a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Marcus Stanton

2.

Reason for the Notification

a)

Position/status

Non-Executive (Director)

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Jersey Oil & Gas plc

b)

LEI

213800RIR1SZC1734G32

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

Options over ordinary shares of 1 pence each in the Company

Identification code

GB00BYN5YK77

b)

Nature of the Transaction

Grant of Options over ordinary shares of 1 pence each in the Company

c)

Price(s) and volume(s)

Price(s) Volume(s)

230p  30,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

29 April 2022

f)

Place of the transaction

Outside of a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Frank Moxon

2.

Reason for the Notification

a)

Position/status

Non-Executive Director (Director)

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Jersey Oil & Gas plc

b)

LEI

213800RIR1SZC1734G32

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

Options over ordinary shares of 1 pence each in the Company

Identification code

GB00BYN5YK77

b)

Nature of the Transaction

Grant of Options over ordinary shares of 1 pence each in the Company

c)

Price(s) and volume(s)

Price(s) Volume(s)

230p  30,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

29 April 2022

f)

Place of the transaction

Outside of a trading venue

 

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Graham Forbes

2.

Reason for the Notification

a)

Position/status

Chief Financial Officer (Director)

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Jersey Oil & Gas plc

b)

LEI

213800RIR1SZC1734G32

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

Options over ordinary shares of 1 penny each in the Company

Identification code

GB00BYN5YK77

b)

Nature of the Transaction

Grant of Options over ordinary shares of 1 penny each in the Company

c)

Price(s) and volume(s)

Price(s) Volume(s)

230p  150,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

29 April 2022

f)

Place of the transaction

 Outside of a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Smith

2.

Reason for the Notification

a)

Position/status

Chief Commercial Officer

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Jersey Oil & Gas plc

b)

LEI

213800RIR1SZC1734G32

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

Options over ordinary shares of 1 penny each in the Company

Identification code

GB00BYN5YK77

b)

Nature of the Transaction

Grant of Options over ordinary shares of 1 penny each in the Company

c)

Price(s) and volume(s)

Price(s) Volume(s)

230p 150,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

29 April 2022

f)

Place of the transaction

Outside of a trading venue

 

 

END

 

 

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