Grant of Share Options

RNS Number : 8328W
Jersey Oil and Gas PLC
20 April 2023
 

20 April 2023

 

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 it has granted options over, in aggregate, 600,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to its directors, senior management and employees at an exercise price of 247.50 pence per Ordinary Share (the "Options"), being the middle market closing price on 19 April 2023, the latest practicable date prior to this announcement.

 

Accordingly, a total of 4,134,002 option awards are outstanding following these latest grants, which represents approximately 12.7 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 Company's Executive Directors/Officers:

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

150,000

247.50

7 years

800,000

Graham Forbes

Chief Financial Officer

100,000

247.50

7 years

600,000

Richard Smith

Chief Commercial Officer

100,000

247.50

7 years

600,000

 

The new Options set out in the table above 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 Company's 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

45,000

247.50

5 years

120,000

Frank Moxon

Senior Independent Non-Executive Director

20,000

247.50

5 years

100,000

Marcus Stanton

Non-Executive Director

20,000

247.50

 5 years

130,000

 

The new Options set out in the table above 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 165,000 new Options, in aggregate, have been granted to certain other members of senior management and employees at the same exercise price of 247.50 pence per Ordinary Share.  These options vest in the same manner as those awarded to the Executive Directors/Officers of the Company.

 

 

Enquiries :

Jersey Oil and Gas plc

 

Andrew Benitz, CEO

C/o Camarco:

Tel:  020 3757 4980

Strand Hanson Limited

James Harris

Matthew Chandler

James Bellman

Tel:  020 7409 3494

Zeus Capital Limited

Simon Johnson

 

Tel: 020 3829 5000

finnCap Ltd

Christopher Raggett

Tim Redfern

Tel: 020 7220 0500

Camarco

Billy Clegg

Rebecca Waterworth

Tel:  020 3757 4980

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 ("MAR") as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

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 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)

247.50p  150,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

19 April 2023

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 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)

247.50p  45,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

19 April 2023

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 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)

247.50p  20,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

19 April 2023

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

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)

247.50p  20,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

19 April 2023

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)

247.50p  100,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

19 April 2023

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)

247.50p 100,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

19 April 2023

f)

Place of the transaction

Outside of a trading venue

 

 

 

 

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