Award of Share Options

RNS Number : 2534W
Prospex Oil and Gas PLC
13 November 2017
 

Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas

13 November 2017

Prospex Oil and Gas Plc

("Prospex" or the "Company")

Award of Share Options 

 

Prospex Oil and Gas Plc, the AIM quoted investment company, announces that it has today awarded a total of 71,226,149 options to members of the Board and other staff over new Ordinary Shares in the Company (the 'Options').  This follows the recent investments in the Podere Gallina permit in the Po Valley, Italy and the Suceava Concession in Romania, as a result of which Prospex will be participating in the drilling of two wells in Q4 2017.

 

The Options have been awarded with a strike price of 0.52p per ordinary share, being a 21% premium to the price at which the Company completed its recent Placing as announced on 31 October 2017 and a 2% premium to the mid-market closing share price of the Company's Ordinary Shares on 10 November 2017.  The Options will vest immediately and are exercisable for a period of 3 years.

 

The options issued to the Directors of the Company are set out below:

 

 

Options Awarded

With exercise price of 0.52p per share

Total options now held

Edward Dawson

16,940,273

24,322,148

Richard Mays

10,395,168*

14,720,508

James Smith

10,395,168

11,831,168

William Smith

10,395,168

14,720,508

Other staff/personnel (non-PDMR)

23,100,372

29,989,88

Total

71,226,149

95,584,220

 

*The options awarded to Richard Mays will be held in the name of Sallork Limited, a company he owns and controls.

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

 

* * ENDS * *

 

For further information visit www.prospexoilandgas.com or contact the following:

 

Edward Dawson

Prospex Oil and Gas Plc

Tel: +44 (0) 20 3766 0325

Rory Murphy
Ritchie Balmer
Jack Botros

 

Strand Hanson Limited

 

Tel: +44 (0) 20 7409 3494


Jon Belliss

Beaufort Securities Limited

Tel: +44 (0) 20 7382 8300

Duncan Vasey

Peterhouse Corporate Finance

 

Tel: +44 (0) 20 7469 0932

Frank Buhagiar

Charlotte Page

St Brides Partners Ltd

 

Tel: +44 (0) 20 7236 1177     

 

Notes

Prospex Oil and Gas Plc is an AIM quoted investment company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company's management is looking to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low cost re-evaluation techniques to identify and de-risk prospects.

 

PDMR Notifications

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Edward Dawson

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas 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 Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.52p pence

16,940,273

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

13 November 2017

f)

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Mays

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas 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 Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.52p pence

10,395,168

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

13 November 2017

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Smith

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas 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 Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.52p pence

10,395,168

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

13 November 2017

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

William Smith

2.

Reason for the Notification

a)

Position/status

Director of the Company

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Prospex Oil and Gas 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 Oil & Gas plc

Identification code

GB00BW4NPC58

b)

Nature of the Transaction

Issue of options to acquire Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

0.52p pence

10,395,168

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

13 November 2017

f)

Place of the transaction

Outside a trading venue

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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