Angus Energy PLC Issue of Options (0779O)
February 04 2021 - 11:54AM
UK Regulatory
TIDMANGS
RNS Number : 0779O
Angus Energy PLC
04 February 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH
THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR. . IN ADDITION,
MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE
MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT
CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS
PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS
ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN
ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN
RELATION TO THE COMPANY AND ITS SECURITIES
Angus Energy plc
("Angus Energy", "Angus" or the "Company")
Issue of Options
Angus Energy plc, a conventional oil and gas production and
development company, announces that it has agreed the conditional
grant of 26 million share options under the Company's existing
Employee Incentive Schemes (the "Options") to Directors and other
staff. The issue of the Options is conditional on the Company
seeking additional authority from Shareholders to issue the Options
at a General Meeting to be held in due course.
The share options to be granted were proposed by the
remuneration committee and approved by the Board as part of the
Company's annual share option grants. In making this award the
remuneration committee were conscious that no option award was made
in 2020 and the vesting condition requires a share price of 2p or
greater, representing a premium of 85% to the closing mid- market
price on 3 February 2021. The conditional share options are as
follows:
George Lucan* 5,000,000
Carlos Fernandes* 5,000,000
Andrew Hollis* 5,000,000
Other employees 11,000,000
*Directors of the Company
The share options have an exercise price of 1.5 pence per share
(being a premium of 40% to the closing price on 3 February 2021)
(the "Exercise Price") and vest as to 100 per cent., upon the share
price being 2 pence or greater (being 33 per cent. above the
Exercise Price). As per previous option awards, the options have a
10 year term from the date of issue.
Following the grant of the share options outlined above, the
total share options outstanding will be 78,918,304 representing
approximately 8.61% of the 916,502,269 ordinary shares in issue.
The Company will convene a General Meeting in due course and a
further announcement will be made to Shareholders in this
respect.
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
George Lucan Tel: +44 (0) 208 899 6380
Beaumont Cornish (Nomad) www.beaumontcornish.com
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Limited (Broker)
Katy Mitchell/ Harry Ansell Tel: +44 (0) 113 394 6600
Flagstaff PR/IR angus@flagstaffcomms.com
Tim Thompson Tel: +44 (0) 207 129 1474
Fergus Mellon
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