Director/PDMR Shareholdings & Options Cancellation
12 July 2022
Diversified Energy Company PLC
("Diversified" or the "Company")
Director/PDMR Shareholdings and Cancellation of Share Options
Diversified Energy Company PLC (LSE: DEC) announces the market purchase of ordinary shares of 1p each in the Company ("Ordinary Shares") purchased by members of Diversified's senior management team and an Executive Director on 8 July 2022. The Company also announces its agreement on 8 July 2022 to cancel certain outstanding share options previously awarded under the Company's 2017 Equity Incentive Plan.
Purchase of Shares by Members of Senior Management Team
Brad Gray, Executive Director of the Company's Board of Directors, Chief Operating Officer and Executive Vice President, acquired 25,000 Ordinary Shares through the market at an average price of 111.3 pence per Ordinary Share. Following this purchase, Mr. Gray is now interested in 2,394,782 Ordinary Shares representing approximately 0.281% of the Company's issued share capital.
Eric Williams, Chief Financial Officer and Executive Vice President, acquired 10,000 Ordinary Shares through the market at an average price of 111.2 pence per Ordinary Share. Following this purchase, Mr. Williams is now interested in 434,954 Ordinary Shares representing approximately 0.051% of the Company's issued share capital.
Cancellation of Share Options
On 8 July 2022, Diversified executed an agreement to cancel 4,540,000 outstanding share options previously awarded to certain employees as well as members of senior management (excluding the Company's Executive Directors) in May 2019 under the Company's 2017 Equity Incentive Plan. Such options will be surrendered to the Company for cancellation. Following the cancellation, 12,679,998 options remain outstanding.
This notification complies with LR 12.5.2R in relation to the cancellation of the options.
For further information, please contact:
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Diversified Energy Company PLC |
+1 205 408 0909 |
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Wren Smith |
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FTI Consulting |
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US & UK Financial Public Relations |
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About Diversified Energy Company PLC
Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Brad Gray |
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2 |
Reason for the notification |
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a) |
Position/status |
Executive Director of the Company's Board of Directors, Chief Operating Officer and Executive Vice President |
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b) |
Initial notification/Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Diversified Energy Company PLC |
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b) |
LEI |
213800YR9TFRVHPGOS67 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary Shares of 1 pence each |
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Identification code |
GB00BYX7JT74 |
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b) |
Nature of the transaction |
Purchase of Ordinary Shares |
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
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£1.113 |
25,000 |
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d) |
Aggregated information |
N/A single transaction
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Aggregated volume |
N/A single transaction
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Price |
N/A single transaction
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e) |
Date of the transaction |
8 July 2022 |
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f) |
Place of the transaction |
London Stock Exchange (XLON) |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Eric Williams |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Financial Officer and Executive Vice President |
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b) |
Initial notification/Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Diversified Energy Company PLC |
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b) |
LEI |
213800YR9TFRVHPGOS67 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary Shares of 1 pence each |
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Identification code |
GB00BYX7JT74 |
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b) |
Nature of the transaction |
Purchase of Ordinary Shares |
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
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£1.112 |
10,000 |
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d) |
Aggregated information |
N/A single transaction
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Aggregated volume |
N/A single transaction
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Price |
N/A single transaction
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e) |
Date of the transaction |
8 July 2022 |
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f) |
Place of the transaction |
London Stock Exchange (XLON) |
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