Director Shareholdings and Stock Options Exercise
23 March 2022
Diversified Energy Company PLC
("Diversified" or the "Company")
Director Shareholdings and Stock Options Exercise
Diversified Energy Company PLC (LSE: DEC) announces a market purchase by a member of the Company's Board of Directors (the "Board") of ordinary shares of 1p each in the Company ("Ordinary Shares"). The Company also announces the exercise of vested Stock Options (and related share dealings), previously awarded to members of its senior management team and an Executive Director, on 23 March 2022.
Acquisition of Shares by a Member of the Board
On 22 March 2022, Martin Thomas, Non-Executive Vice Chair of the Company's Board, acquired 35,000 Ordinary Shares through the market at an average price of £1.1621 per Ordinary Share. Following this purchase, Mr. Thomas is now interested in 2,200,000 Ordinary Shares, which represents approximately 0.26% of the Company's issued share capital as of the transaction date.
Exercise of Stock Options and Related Share Dealings
On 22 March 2022, Diversified issued and allotted an aggregate of 414,514 new ordinary shares of 1p each in the Company (the "New Shares") (net of exercise costs and withholding tax) (1) related to members of the Company's senior management team and (2) an Executive Director exercising 2,370,002 vested Stock Options previously awarded from which the Company withheld 1,955,488 shares to satisfy, by way of net settlement, the underlying £0.84 exercise price and related employee tax withholdings. The table below sets out the details of the exercise and vesting activity:
|
|
Gross Shares Vested and Exercised |
Exercise Price |
Number of Shares Withheld |
Net Number of Shares Issued |
|
Brad G. Gray |
916,667 |
£0.84 |
749,688 |
166,979 |
|
Eric Williams |
1,108,334 |
£0.84 |
929,132 |
179,202 |
|
Other(a) |
345,001 |
£0.84 |
276,668 |
68,333 |
|
(a) Represents other senior members of Diversified's management team not qualifying as a PDMRs |
||||
Diversified has applied for the New Shares to be admitted to the Premium Listing Segment of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange PLC, and expects admission to occur on or around 30 March 2022. The New Shares will rank pari passu in all respects with the Company's existing ordinary shares of 1p each.
Concurrent to the exercise of Stock Options Bradley G. Gray, an Executive Director, Executive Vice President and Chief Operating Officer, elected to sell the newly allotted 166,979 net shares in the open market at a price of £1.178 per Ordinary Share.
Upon the issuance of and concurrent sale of shares (as applicable), updated PDMR shareholdings are as follows:
|
|
Number of Shares Issued |
Number of Shares Sold |
Updated Total Number of Holdings |
% of Issued Share Capital |
|
Bradley G. Gray |
166,979 |
(166,979) |
2,369,782 |
0.28% |
|
Eric Williams |
179,202 |
n/a |
424,954 |
0.05% |
Including the New Shares, the Company has 850,461,065 Ordinary Shares in issue and holds no Ordinary Shares in treasury. Shareholders may use 850,461,065 as the denominator in calculations to determine if they must notify the Company of their interest in, or a change to their invested interest under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact:
|
Diversified Energy Company PLC |
+1 205 408 0909 |
|
Jim Sheehan |
|
|
www.div.energy |
|
|
ir@dgoc.com |
|
|
|
|
|
Buchanan |
+44 20 7466 5000 |
|
Financial Public Relations |
|
|
Ben Romney |
|
|
Chris Judd |
|
|
Jon Krinks |
|
|
James Husband |
|
|
dec@buchanan.uk.com |
|
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.
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||
|
a) |
Name |
Martin Thomas |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Non-Executive Vice Chair |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Diversified Energy Company PLC |
|
|
b) |
LEI |
213800YR9TFRVHPGOS67 |
|
|
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 1p each |
|
|
|
Identification code |
GB00BYX7JT74 |
|
|
b) |
Nature of the transaction |
Purchase of Ordinary Shares |
|
|
c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
|
|
|
£1.1621 |
35,000 |
|
d) |
Aggregated information |
N/A single transaction |
|
|
|
Aggregated volume |
N/A single transaction |
|
|
|
Price |
N/A single transaction |
|
|
e) |
Date of the transaction |
22 March 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange (XLON) |
|
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||
|
a) |
Name |
Bradley G. Gray |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Executive Vice President & 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 |
Diversified Energy Company PLC |
|
|
b) |
LEI |
213800YR9TFRVHPGOS67 |
|
|
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 |
Exercise of stock options constituting a right to acquire Ordinary Shares of 1p each |
|
|
|
Identification code |
GB00BYX7JT74 |
|
|
b) |
Nature of the transaction |
a. Exercise of options b. Net Settlement Withholding c. Sale of Shares |
|
|
c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
|
|
|
a. £0.84 b. £1.184 c. £1.178 |
a. 916,667 b. 749,688 c. 166,979 |
|
d) |
Aggregated information |
|
|
|
|
Aggregated volume |
Net Settlement of Options Exercised - 166,979 Sales - 166,979 |
|
|
|
Price |
Net Settlement of Options Exercised - £Nil Sales - £1.178 |
|
|
e) |
Date of the transaction |
22 March 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange (XLON) |
|
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||
|
a) |
Name |
Eric Williams |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
Executive Vice President & 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 |
Diversified Energy Company PLC |
|
|
b) |
LEI |
213800YR9TFRVHPGOS67 |
|
|
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 |
Exercise of stock options constituting a right to acquire Ordinary Shares of 1p each |
|
|
|
Identification code |
GB00BYX7JT74 |
|
|
b) |
Nature of the transaction |
a. Exercise of options b. Net Settlement Withholding |
|
|
c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
|
|
|
a. £0.84 b. £1.184 |
a. 1,108,334 b. 929,132 |
|
d) |
Aggregated information |
|
|
|
|
Aggregated volume |
Net Settlement of Options Exercised - 179,202 |
|
|
|
Price |
Net Settlement of Options Exercised - £Nil |
|
|
e) |
Date of the transaction |
22 March 2022 |
|
|
f) |
Place of the transaction |
London Stock Exchange (XLON) |
|
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