Exercise of Options and TVR and Award of Options

RNS Number : 5078A
Prospex Energy PLC
23 September 2022
 

 

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

 

23 September 2022

 

Prospex Energy PLC

('Prospex' or the 'Company')

 

Exercise of Options and TVR and Award of Options

 

Prospex Energy PLC, the AIM-quoted investment company focused on European gas and power projects, announces that it has received notices for the exercise of options to subscribe for 2,191,947 new ordinary shares of 0.1p each in the Company ("Ordinary Shares").  The options were issued pursuant to option agreements dated 20 July 2020 and have been exercised by two directors and an employee of the Company, further details on which are below.  The exercise price is 4 pence per option exercised, therefore generating proceeds of £87,677.88, in aggregate, for the Company.  The Board of Directors as a whole have no current intention of selling any of their Ordinary Shares held, including those issued on the exercise of these options.

 

Admission to Trading and Total Voting Rights

 

The Company has applied to the London Stock Exchange for admission of 2,191,947 new Ordinary Shares to trading on AIM ('Admission').  Admission is expected to occur on or around 29 September 2022.  Following Admission, there will be a total of 272,984,675 Ordinary Shares in issue.  This will be the number of Ordinary Shares that 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 the Company under the FCA's Disclosure and Transparency Rules.

 

Award of Options

 

The Company has today granted a total of 3,600,000 share options in the Company to its Board of Directors.  The new options awarded represent approximately 1.3% of the issued share capital of the Company following Admission.  The new options award results in the total number of options held by the Board of Directors and management of 8,593,468 options, which represents approximately 3.1% of the issued share capital following Admission.

 

The new options have been awarded at 8.15p per share representing a 3.2% premium to 7.90p, the closing price on 22 September 2022. The options vest immediately and are exercisable for a period of five years.



 

The options to be issued are set out below:

 

Mark Routh

900,000

William Smith

900,000

Alasdair Buchanan

900,000

Richard Mays

900,000

Total

3,600,000

 

Options currently held by directors: -

Director

Expiry 31/3/25

Strike Price

Expiry 17/3/25

Strike Price

Total

William Smith

21,669

75p

900,000

5p

921,669

Richard Mays

21,669

75p

900,000

5p

921,669

Alasdair Buchanan

-

-

900,000

5p

900,000

Mark Routh

-

-

2,100,000

5p

2,100,000

Totals

43,338


4,800,000


4,843,338

 

Directors' total interest in options after this award:

Director

Number

% of share capital following Admission

Mark Routh

3,000,000

1.1%

William Smith

1,821,669

0.7%

Richard Mays

1,821,669

0.7%

Alasdair Buchanan

1,800,000

0.7%

Total

8,443,338

3.1%

 

 

 

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: +44 (0) 20 7236 1177

Ritchie Balmer
Rory Murphy

Strand Hanson Limited

Tel: +44 (0) 20 7409 3494

Andrew Monk (Corporate Broking)
Andrew Raca/Alex Cabral (Corporate Finance)

VSA Capital Limited

Tel: +44 (0) 20 3005 5000

Colin Rowbury
Jon Belliss

Novum Securities Limited

Tel: +44 (0) 20 7399 9427

Susie Geliher
Ana
Ribeiro

St Brides Partners Limited

 

Tel: +44 (0) 20 7236 1177

 



 

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)

8.15 pence

 

900,000

 

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

23 September 2022

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)

8.15 pence

 

900,000

 

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

23 September 2022

f)

Place of the transaction

AIM

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Mays

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)

8.15 pence

 

900,000

 

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

23 September 2022

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)

8.15 pence

 

900,000

 

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

23 September 2022

f)

Place of the transaction

AIM

 

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

Exercise of options to acquire Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

4 pence

 

810,720

 

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

23 September 2022

f)

Place of the transaction

AIM

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Mays

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

Exercise of options to acquire Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

4 pence

 

810,720

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

23 September 2022

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

Senior Management

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

Exercise of options to acquire Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

4 pence

 

570,507

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

23 September 2022

f)

Place of the transaction

AIM

 

 

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