Award of Options

Prospex Energy PLC

27 July 2023

 

Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

27 July 2023

Prospex Energy PLC

('Prospex' or the 'Company')

Award of Options

Prospex Energy PLC, the AIM quoted investment company focused on European energy projects, has today granted a total of 4,200,000 share options in the Company to directors and other staff (the "Options") following the Company's success in commencing gas production from the Podere Maiar-1 well in Italy announced on 5 July 2023.  The new options awarded represent 1.43% of the total issued share capital of the Company on 31 July 2023.  The new award results in the total number of options awarded to staff and management of 17,946,364 which represents 6.11% of the total issued share capital on 31 July 2023.

The options have been awarded at 7.0p per share representing an 11.1% premium to 6.3p, the closing price of Prospex shares on 26 July 2023.

The Options vest immediately and are exercisable for a period of five years.

The Options to be issued are set out below:

Mark Routh	1,200,000
William Smith	300,000
Alasdair Buchanan	300,000
Andrew Hay	900,000
Grant Glanfield	500,000
Other non-PDMR staff	1,000,000
Total	4,200,000

Options currently held by directors/PDMRs:

Director* /PDMR	Expiry 14/04/25	Strike Price	Expiry 17/3/25	Strike Price	Expiry 22/09/27	Strike Price	Expiry 27/02/28	Strike Price	Total
William Smith*	21,669	75.0p	900,000	5.0p	900,000	8.15p	370,000	12.25p	2,191,669
Alasdair Buchanan*	-	-	900,000	5.0p	900,000	8.15p	370,000	12.25p	2,170,000
Mark Routh*	-	-	2,100,000	5.0p	900,000	8.15p	1,233,333	12.25p	4,233,333
Andrew Hay*	-	-	-	-	-	-	-	-	-
Grant Glanfield	-	-	-	-			575,556	12.25p	575,556
Total	21,669	-	3,900,000	-	2,700,000	-	2,548,889	-	9,170,558

Directors'/PDMRs total Options after this award:

Director*/PDMR	Number	% of share capital at 31 July 2023
Mark Routh*	5,433,333	1.85%
William Smith*	2,491,669	0.85%
Alasdair Buchanan*	2,470,000	0.84%
Andrew Hay*	900,000	0.31%
Grant Glanfield	1,075,556	0.37%
Total Directors/PDMRs	12,370,558	4.21%

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

* * ENDS * *

For further information visit www.prospex.energy or contact the following:

Mark Routh	Prospex Energy PLC	Tel: [phone]
Ritchie Balmer Rory Murphy	Strand Hanson Limited	Tel: [phone]
Jerry Keen	Fox-Davies Capital Limited	Tel: [phone]
Andrew Monk (Corporate Broking) Andrew Raca/Alex Cabral (Corporate Finance)	VSA Capital Limited	Tel: [phone]
Ana Ribeiro / Susie Geliher	St Brides Partners Limited	Tel: [phone]

PDMR Notification

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	William Smith
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 7.0 pence 300,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	26 July 2023
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alasdair Buchanan
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 7.0 pence 300,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	26 July 2023
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Routh
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 7.0 pence 1,200,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	26 July 2023
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Hay
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 7.0 pence 900,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	26 July 2023
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Grant Glanfield
2.	Reason for the Notification
a)	Position/status	Group Head of Finance
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 7.0 pence 500,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	26 July 2023
f)	Place of the transaction	AIM

 

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