Deferred 2025 Annual Bonus

Seascape Energy Asia PLC

22 April 2026

 

THIS ANNOUNCEMENT DOES NOT CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

22 April 2026

Seascape Energy Asia plc

(the "Company", "Seascape Energy" or "Seascape")

Notification of Transaction by Person Discharging Managerial Responsibilities ("PDMR")

Deferred 2025 Annual Bonus

The Executive Directors have elected to receive the as yet unpaid element of their annual 2025 bonus in the form of equity in the Company.

The Awards

Fifty percent of the Executive Directors' 2025 bonus was to be paid in cash but contingent upon a suitable liquidity event having occurred. Whilst the recent placing of new ordinary shares in the Company qualifies as such an event, the Executive Directors have taken the view that it would not be appropriate to use those monies in part to pay the cash element of their bonuses.  Moreover, taking the award in equity enables them to continue to continue to build their equity stakes in the Company, ensuring alignment with shareholders.

Following the vesting of these awards, together with those awarded in January and the existing shareholdings, the Directors will hold a total of 7.8% of the Company's issued share capital.

Accordingly the Company's Remuneration Committee has decided to make these equity awards under  the existing  LTIP scheme. This will see the Executive Directors being awarded nil cost options to acquire ordinary shares in the Company. The number of shares and percentage of the Company's current issued share capital ("ISC"), is set out below:

PDMR	Title			No. of Option shares	ISC%
Nick Ingrassia	CEO			232,721	0.33
James Menzies	Executive Chairman			164,991	0.24
Pierre Eliet	Executive Director Corporate Development			166,578	0.24

To be consistent, the calculation of the Awards has utilised the same price and date of grant used for the first part of the bonus made by way of an LTIP Award, announced on 13 January 2026.  Subject to the rules of the Plan the Options will vest in 12 months from the date of grant and be exercisable for a period of up to five years from grant.

The LTIP

The LTIP, which is designed to provide incentivisation and retention for the Company's personnel, was approved by shareholders at the 2020 AGM and the principal terms are summarised in the Company's Re-admission document of 10 June 2021 (available on the Company's web site).

Notification of Deal Forms of each PDMR can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

Enquiries: Seascape Energy Asia plc [e-mail] James Menzies (Executive Chairman) Nick Ingrassia (Chief Executive) Pierre Eliet (Executive Director) Stifel (Nomad and Joint Broker) Tel: [phone] Callum Stewart Jason Grossman Ashton Clanfield [e-mail] Cavendish Capital Markets Limited (Joint Broker) Tel: [phone] Neil McDonald Pete Lynch

Details of the person discharging managerial responsibilities/persons closely associated
a)	Position/status:	1.         Executive Chairman 2.         Chief Executive Officer 3.         Executive Director Corporate Development
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Seascape Energy Asia plc
b)	LEI:	213800D1D587TB36ST68
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:	Ordinary Shares of £0.10 each in the share capital of Seascape Energy Asia plc ISIN: GB00BKFW2482
b)	Nature of transaction	Grant of market priced options under the Seascape Energy Asia plc Long Term Incentive Plan
c)	Price(s) and volume(s):	Price(s) Volume(s) 1. James Menzies 64.7p 232,721 2. Nick Ingrassia 64.7p 164,991 3. Pierre Eliet 64.7p 166,578
d)	Aggregated information: · Aggregated volume: · Price:	N/a   N/a
e)	Date of the transaction:	21 April 2026
f)	Place of the transaction:	XOFF

 

END