PDMR Dealings

RNS Number : 2228O
Savannah Energy Plc
05 February 2021
 

5 February 2021

Savannah Energy PLC

("Savannah" or "the Company")

 

PDMR Dealings

Award of Options

Savannah Energy PLC ("Savannah" or the "Company"), the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, announces that it has awarded options over existing Savannah ordinary shares currently held in the company's Employee Benefit Trust ("the EBT") to persons discharging managerial responsibilities.  

Award of Options under the New Share Scheme

The Company has awarded options pursuant to the New Share Scheme (as defined in the Company's 2019 Annual Report) over existing Savannah ordinary shares, at nil cost, currently held in the Company's EBT to the following persons (the "Options"):

· Antoine Richard, Chief Operating Officer, has been granted 1,065,621 Options held in the EBT.

· Christopher Thomas, Head of Strategy, has been granted of 1,065,621 Options held in the EBT.

As per the terms of the New Share Scheme, the Options vest on a straight-line basis should the 30-day volume weighted average price ("VWAP") of the Company's shares at any point during a five-year period exceed a hurdle price of 47 pence, with 100% vesting on the VWAP reaching 68 pence. Shares received pursuant to the Options are subject to a three-month lock-in period, during which dealing in the shares is not permitted. For further details on the vesting and other conditions of the  Options, please refer to page 92 of the Company's 2019 Annual Report (which can be found on the Company's website: www.savannah-energy.com). This scheme was approved by shareholders on 3 May 2018.

Award of Options in Lieu of Payment of Cash Bonuses

The Company is additionally making share option awards totalling 4,414,285 to Andrew Knott (Chief Executive Officer), Isatou Semega-Janneh (Chief Financial Officer), Yacine Wafy (VP West Africa) and Christopher Thomas (Head of Strategy).  These awards are being made at the request of the individuals who were seeking additional equity exposure, in lieu of payment of certain cash bonuses. These share options are over existing Savannah ordinary shares that are held in the EBT and can be exercisable for a period of ten years at nil cost.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 

1

Details of the person discharging board/managerial responsibilities/person closely associated

a)

Name

Antoine Richard

2

Reason for the notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Savannah Energy PLC

b)

LEI

2138002YCJORSFH5YR43

 

 

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

 

Identification code

Nil-cost options over Savannah Energy plc ordinary shares


 

ISIN: GBOOBP41S218

 

b)

Nature of the transaction

The granting of 1,065,621 nil-cost options over 1,065,621 ordinary shares of 0.1p each in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

(single transaction)

 

e)

Date of the transaction

5 February 2021

f)

Place of the transaction

London Stock Exchange

 

 

1

Details of the person discharging board/managerial responsibilities/person closely associated

a)

Name

Christopher Thomas

2

Reason for the notification

a)

Position/status

Head of Strategy

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Savannah Energy PLC

b)

LEI

2138002YCJORSFH5YR43

 

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

 

Identification code

Nil-cost options over Savannah Energy plc ordinary shares


 

ISIN: GBOOBP41S218

b)

Nature of the transaction

The granting of 1,065,621 nil-cost options over 1,065,621 ordinary shares of 0.1p each in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

(single transaction)

 

e)

Date of the transaction

5 February 2021

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging board/managerial responsibilities/person closely associated

a)

Name

Andrew Knott

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Savannah Energy PLC

b)

LEI

2138002YCJORSFH5YR43

 

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

 

Identification code

Nil-cost options over Savannah Energy plc ordinary shares


 

ISIN: GBOOBP41S218

 

b)

Nature of the transaction

The granting of 2,200,000 nil-cost options over 2,200,000 ordinary shares of 0.1p each in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

(single transaction)

 

e)

Date of the transaction

5 February 2021

f)

Place of the transaction

London Stock Exchange

 

 

1

Details of the person discharging board/managerial responsibilities/person closely associated

a)

Name

Isatou Semega-Janneh

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Savannah Energy PLC

b)

LEI

2138002YCJORSFH5YR43

 

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

 

Identification code

Nil-cost options over Savannah Energy plc ordinary shares


 

ISIN: GBOOBP41S218

b)

Nature of the transaction

The granting of 625,000 nil-cost options over 625,000 ordinary shares of 0.1p each in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

(single transaction)

 

e)

Date of the transaction

5 February 2021

f)

Place of the transaction

London Stock Exchange

 

1

Details of the person discharging board/managerial responsibilities/person closely associated

a)

Name

Yacine Wafy

2

Reason for the notification

a)

Position/status

VP, West Africa

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Savannah Energy PLC

b)

LEI

2138002YCJORSFH5YR43

 

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

 

Identification code

Nil-cost options over Savannah Energy plc ordinary shares


 

ISIN: GBOOBP41S218

 

b)

Nature of the transaction

The granting of 1,303,571 nil-cost options over 1,303,571 ordinary shares of 0.1p each in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

(single transaction)

 

e)

Date of the transaction

5 February 2021

f)

Place of the transaction

London Stock Exchange

 

 

1

Details of the person discharging board/managerial responsibilities/person closely associated

a)

Name

Christopher Thomas

2

Reason for the notification

a)

Position/status

Head of Strategy

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Savannah Energy PLC

b)

LEI

2138002YCJORSFH5YR43

 

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

 

Identification code

Nil-cost options over Savannah Energy plc ordinary shares


 

ISIN: GBOOBP41S218

b)

Nature of the transaction

The granting of 285,714 nil-cost options over 285,714 ordinary shares of 0.1p each in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)

 

 

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

(single transaction)

 

e)

Date of the transaction

5 February 2021

f)

Place of the transaction

London Stock Exchange

For further information, please refer to the Company's website www.savannah-energy.com or contact:

Savannah Energy 

+44 (0) 20 3817 9844

 

Andrew Knott, CEO

 

 

Isatou Semega-Janneh, CFO

 

 

Sally Marshak, Communications Consultant

 

 

 

 

 

Strand Hanson (Nominated Adviser)

+44 (0) 20 7409 3494

 

James Spinney

 

 

Ritchie Balmer

 

 

Rory Murphy

 

 

 

 

 

finnCap Ltd (Joint Broker) 

Christopher Raggett

Tim Redfern

+44 (0) 20 7220 0500

 

 

 

 

Panmure Gordon (UK) Ltd (Joint Broker) 

John Prior

+44 (0) 20 7886 2500

 

Hugh Rich

 

 

 

 

 

Celicourt Communications 

+44 (0) 20 8434 2754

 

Mark Antelme

 

 

Jimmy Lea

Ollie Mills

 

 

         

 

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

 

About Savannah Energy:

 

Savannah Energy PLC is an AIM market listed African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, with a focus on delivering material long term returns for stakeholders. In Nigeria, the Company has controlling interests in the cash flow generative Uquo and Stubb Creek oil and gas fields, and the Accugas midstream business in South East Nigeria, which provides gas contributing to over 10% of Nigeria's daily national average power generation. In Niger, the Company has interests in two large PSC areas located in the highly oil prolific Agadem Rift Basin of South East Niger, where the Company has made five oil discoveries and seismically identified a large exploration prospect inventory, consisting of 146 exploration targets to be considered for potential future drilling activity.

 

Further information on Savannah Energy PLC can be found on the Company's website: www.savannah-energy.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHDKPBBOBKDBBK
UK 100

Latest directors dealings