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Pennpetro Energy PLC (PPP)

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Friday 02 November, 2018

Pennpetro Energy PLC

Grant of Options and PDMR Notification

RNS Number : 7801F
Pennpetro Energy PLC
02 November 2018
 

2 November 2018

Pennpetro Energy Plc

("Pennpetro" or the "Company")

 

Grant of Options

 

The Company announces that, as outlined and in line with the prospectus published on 15th December 2017, on 2nd November 2018 it granted options under the Pennpetro Energy Plc Option Share Plan with an exercise price of £0.35p per share over, in aggregate, 1,700,000 ordinary shares of £0.01 each in the Company ("Ordinary Shares") (the "Options") to Directors Keith Edelman, Phillip Nash, Tom Evans and Olof Rapp, who will each receive 425,000 Options.

 

As a result of these Options being granted, the interests of the Directors in options over Ordinary Shares is as follows:

 

Director

 

Options granted

Total Options

Keith Edelman (Non-executive director and Chairman)

 

425,000

425,000

Olof Rapp (Senior non-executive director)

 

425,000

425,000

Tom Evans (Executive director)

 

425,000

425,000

Phillip Nash (Non-executive director and Chief Financial Officer)

 

425,000

425,000

 

The Options shall vest and become exercisable on the 2nd November 2021, being three years from the date of grant of the Options.

 

The Options are equivalent to 2.4 per cent. of the Company's current issued share capital. The total number of Ordinary Shares currently in issue is 70,900,000.

 

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

1.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Keith Graham Edelman

2.               

Reason for the Notification

a)

Position/status

Non-executive director and Chairman

b)

Initial notification / Amendment

Initial notification

 

3.    

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

a)

Name

PennPetro Energy Plc

b)

LEI

213800BNN7UN97NVP509

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

Grant of options over ordinary shares of £0.01

 

Identification code

ISIN: GB00BF2K5076

b)

Nature of the transaction

Grant of options

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

425,000

 

d)

Aggregated information:

·    Aggregated volume

·    Price

N/A

e)

Date of the transaction

2 November 2018

f)

Place of the
transaction

Off market transaction

 

 

 

1.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Olof Rapp

2.               

Reason for the Notification

a)

Position/status

Senior non-executive director

b)

Initial notification / Amendment

Initial notification

 

3.    

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

a)

Name

PennPetro Energy Plc

b)

LEI

213800BNN7UN97NVP509

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

Grant of options over ordinary shares of £0.01

 

Identification code

ISIN: GB00BF2K5076

b)

Nature of the transaction

Grant of options

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

425,000

 

d)

Aggregated information:

·    Aggregated volume

·    Price

N/A

e)

Date of the transaction

2 November 2018

f)

Place of the
transaction

Off market transaction

 

1.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Tom Evans

2.               

Reason for the Notification

a)

Position/status

Executive director

b)

Initial notification / Amendment

Initial notification

 

3.    

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

a)

Name

PennPetro Energy Plc

b)

LEI

213800BNN7UN97NVP509

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

Grant of options over ordinary shares of £0.01

 

Identification code

ISIN: GB00BF2K5076

b)

Nature of the transaction

Grant of options

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

425,000

 

d)

Aggregated information:

·    Aggregated volume

·    Price

N/A

e)

Date of the transaction

2 November 2018

f)

Place of the
transaction

Off market transaction

 

 

1.               

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Phillip Nash

2.               

Reason for the Notification

a)

Position/status

Non-executive director and 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

PennPetro Energy Plc

b)

LEI

213800BNN7UN97NVP509

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

Grant of options over ordinary shares of £0.01

 

Identification code

ISIN: GB00BF2K5076

b)

Nature of the transaction

Grant of options

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

35p

425,000

 

d)

Aggregated information:

·    Aggregated volume

·    Price

N/A

e)

Date of the transaction

2 November 2018

f)

Place of the
transaction

Off market transaction

 

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

 

 

 

Enquiries

 

Pennpetro Energy Plc

88 Whitfield Street

First Floor

London

W1T 4EZ

 

[email protected]  

 

 

Instinctif



David Simonson

[email protected]

+44 (0)20 7457 2020

George Yeomans

[email protected]

+44 (0)20 7457 2020




 

NOTES TO EDITORS

Pennpetro Energy is an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA. Shares in the company were admitted to the Official List of the London Stock Exchange by way of a Standard Listing on 21 December 2017.

 

Further information on the Company can be found at www.pennpetroenergy.co.uk 

 


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 [email protected] or visit www.rns.com.
 
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