PDMR Share ISSUANCE

RNS Number : 2108F
Vaalco Energy Inc
18 March 2022
 

18 March 2022

PDMR Share ISSUANCE

VAALCO Energy, Inc. announces a correction to the PDMR share issuance announced at 08:14 on 16 March 2022 under RNS Number 9557E.  The number of shares awarded to George Maxwell had been overstated; the amended announcement appears below in full containing the corrected figures.

VAALCO Energy, Inc. ("VAALCO" or "Company") announces that on 11 March 2022, restricted shares in the Company ("Restricted Shares") were issued to persons discharging managerial responsibility in the Company as listed below. The Common Shares will be allotted in proportions over a three year period at a price per common share ("Common Share") of $6.41.

 

Name

Role

Nature of transaction

Number ofCommonShares

Price per share($)

GeorgeMaxwell

CEO

Award of Restricted Shares

43,799

$6.41

RonaldBain

CFO

Award of Restricted Shares

20,558

$6.41

DavidDesAutels

EVP, Corp.Dev.

Award of Restricted Shares

13,658

$6.41

MichaelSilver

EVP, GC & Corp. Secretary

Award of Restricted Shares

20,464

$6.41

JasonDoornik

CAO &Controller

Award of Restricted Shares

13,198

$6.41

 

VAALCO announces that on 11 March 2022, PerformanceOptions ("Performance Options") were granted to persons discharging managerial responsibility in the Company as listed below. These will convert into Common Shares and will vest over a three year period after the grant date, subject to the performance conditions attached to each allocation being met. The Performance Shares were issued at the grant price indicated below.

Name

Role

Nature of

transaction

Number ofCommonShares

Price per share($)

GeorgeMaxwell

CEO

Award of Performance Options

84,831

$6.41

RonaldBain

CFO

Award of Performance Options

46,432

$6.41

DavidDesAutels

EVP, Corp.Dev.

Award of Performance Options

30,849

$6.41

MichaelSilver

EVP, GC & Corp. Secretary

Award of PerformanceOptions

46,221

$6.41

 

About VAALCO

 

VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

 

The Company is an established operator within the region, holding a 31.1% working interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 110 million barrels of crude oil and of which the Company is the operator.

 

For Further Information

VAALCO Energy, Inc. (General and Investor Enquiries)  +00 1 713 623 0801

 

Website:  www.vaalco.com

 

Al Petrie Advisors (US Investor Relations)  +00 1 713 543 3422

Al Petrie / Chris Delange 

 

Buchanan (UK Financial PR)  +44 (0) 207 466 5000

Ben Romney / Chris Judd / James Husband  VAALCO@buchanan.uk.com

 

 

 

Notification of dealings in shares by PDMR's of the Company:

 

1.

Details of PDMR / PDMRAssociate

(a)

Name

GeorgeMaxwell

(b)

Position /status

Chief ExecutiveOfficer

(c)

Initial notification / amendment

InitialNotification

2.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted

(a)

Description of thefinancialinstrument

Restricted Shares and Options over Common Shares ("Options")

(b)

Nature of thetransaction

Award of Restricted Shares on the vesting of performanceoptions and award of Options

(c)

Price(s) andvolume(s)

Award of Restricted Shares

Price: $6.41

Volume: 43,799

Total:USDollar $280,751.59

 

Award of Options

Price: $6.41

Volume: 84,831

Total: US Dollar $543,766.71

 

(d)

Aggregated information Aggregated volume Price

Volume: 128,630128,630

Price:$6.41

(e)

Date of thetransaction

March 11,2022

(f)

Place of thetransaction

USA

 

 

 

 

1. 

Details of PDMR / PDMRAssociate

(a)

Name

RonaldBain

(b)

Position /status

Chief FinancialOfficer

(c)

Initial notification / amendment

InitialNotification

2.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted

(a)

Description of  thefinancialinstrument

Restricted Shares and Options

(b)

Nature of thetransaction

Award of Restricted Shares on the vesting of performanceoptions and award of Options

(c)

Price(s) andvolume(s)

Award of Restricted Shares

Price: $6.41

Volume: 20,558

Total:USDollar $131,776.78

 

Award of Options

Price: $6.41

Volume: 46,432

Total: US Dollar 297,629.12

 

(d)

Aggregatedinformation

Aggregated volume Price

Volume: 66,990

Price:$6.41

 

(e)

Date of thetransaction

March 11,2022

(f)

Place of thetransaction

USA

 

 

 

1.

Details of PDMR / PDMRAssociate

(a)

Name

DavidDesAutels

(b)

Position /status

Executive Vice President, CorporateDevelopment

(c)

Initial notification / amendment

InitialNotification

2.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted

(a)

Description of thefinancialinstrument

Restricted Shares and Options

(b)

Nature of thetransaction

Award of Restricted Shares on the vesting of performanceoptions and award of Options

(c)

Price(s) andvolume(s)

Award of Restricted Shares

Price: $6.41

Volume: 13,658

Total:USDollar $87,547.78

 

Award of Options

Price: $6.41

Volume: 30,849

Total: US Dollar $197,742.09

 

(d)

Aggregatedinformation

Aggregated volume Price

 

Volume: 44,507

Price:$6.41

(e)

Date of thetransaction

March 11,2022

(f)

Place  of  thetransaction

USA

 

 

 

 

1.

Details of PDMR / PDMRAssociate

(a)

Name

MichaelSilver

(b)

Position /status

Executive Vice President, General Counsel & CorporateSecretary

(c)

Initial notification / amendment

InitialNotification

2.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted

(a)

Description of thefinancialinstrument

Restricted Shares and Options

(b)

Nature of thetransaction

Award of Restricted Shares on the vesting of performanceoptions and award of Options

(c)

Price(s) andvolume(s)

Award of Restricted Shares

Price: $6.41

Volume: 20,464

Total:USDollar $131,174.24

Award of Options

Price: $6.41

Volume: 46,221

Total: US Dollar $296,276.61

(d)

Aggregatedinformation

Aggregated volume Price

 

Volume: 66,685

Price:$6.41

 

 

(e)

Date of thetransaction

March 11,2022

(f)

Place  of  thetransaction

USA

 

 

 

1.

Details of PDMR / PDMRAssociate

(a)

Name

JasonDoornik

(b)

Position /status

Chief Accounting Officer andController

(c)

Initial notification / amendment

InitialNotification

2.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted

(a)

Description of thefinancialinstrument

Restricted Shares

(b)

Nature of thetransaction

Award of Restricted Shares on the vesting of performanceoptions

(c)

Aggregatedinformation

Aggregated volume Price

Price: $6.41

Volume: 13,198

Total:USDollar $84,599.18

 

(d)

Date of thetransaction

11 March2022

(e)

Place of thetransaction

USA

 

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