TIDMBOIL

RNS Number : 7473E

Baron Oil PLC

10 November 2020

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

10 November 2020

Baron Oil Plc

("Baron Oil", "Baron" or "the Company")

Grant of EMI Share Options

Baron Oil (AIM: BOIL), the AIM-quoted oil and gas exploration company focused on opportunities in SE Asia, Latin America and the UK, announces an initial grant of Enterprise Management Incentive (EMI) share options to Hugh Jonathan Ford, the Company's recently appointed Technical Director.

The EMI is an HMRC approved tax efficient option scheme that enables companies to attract and retain key staff by rewarding them with equity participation in the business. The scheme is open to all Baron employees who qualify under the HMRC rules.

Accordingly, the Company has today granted share options over a total of 75,000,000 ordinary shares of 0.025 pence each in the Company ("Share Options") to Hugh Jonathan Ford. These vested options have a 10 year life from the date of grant and an exercise price of 0.1p. This is a premium of 25% to the mid-market share price at the close on 9 November 2020 but also matches the Placing Price of the Baron funding round in Q1 2020, which included a GBP7,500 cash subscription by Mr Ford. This will increase the fully diluted option pool to 7.95%.

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

For further information, please contact:

 
Baron Oil Plc                               +44 (0)20 7117 2849 
Andy Yeo 
Chief Executive Officer 
 
Allenby Capital Limited                     +44 (0)203 328 5656 
Nominated Adviser and Joint Broker 
Alex Brearley, Nick Harriss, Nick Athanas 
 
Turner Pope Investments (TPI) Limited       +44 (0)20 3657 0050 
Joint Broker 
Andy Thacker, Zoe Alexander 
 

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)   Full name of person Dealing                Hugh Jonathan Ford 
       -----------------------------------------  -------------------------------------- 
 2.     Reason for notification 
       --------------------------------------------------------------------------------- 
  (b)   Position/status                            Director - Technical 
                                                    Director 
       -----------------------------------------  -------------------------------------- 
  (c)   Initial notification/ Amendment            Initial notification 
       -----------------------------------------  -------------------------------------- 
 3.     Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       --------------------------------------------------------------------------------- 
  (d)   Name of entity                             Baron Oil Plc 
       -----------------------------------------  -------------------------------------- 
  (e)   LEI                                        213800MBSOS9UZ5SW712 
       -----------------------------------------  -------------------------------------- 
 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,   Ordinary shares of 0.025 
         type of instrument                         pence each in the Company 
         Identification code                        Identification code 
                                                    (ISIN) for Baron Oil 
                                                    Plc ordinary shares: 
                                                    GB00B01QGH57 
       -----------------------------------------  -------------------------------------- 
  (b)   Nature of the transaction                  Grant of options over 
                                                    ordinary shares 
       -----------------------------------------  -------------------------------------- 
  (c)   Price(s) and volume(s)                      Prices(s)    Volume(s) 
                                                     0.1 pence    75,000,000 
                                                                 ----------- 
       -----------------------------------------  -------------------------------------- 
  (d)   Aggregated information:                    Single transaction as 
         - Aggregated volume                        in 4(c) above Prices(s)    Volume(s) 
         - Price                                     0.1 pence    75,000,000 
                                                                 ----------- 
       -----------------------------------------  -------------------------------------- 
  (e)   Date of transaction                        10 November 2020 
       -----------------------------------------  -------------------------------------- 
  (f)   Place of transaction                       Outside a trading venue 
       -----------------------------------------  -------------------------------------- 
 

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 rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEANFNEELEFFA

(END) Dow Jones Newswires

November 10, 2020 02:00 ET (07:00 GMT)

Baron Oil (LSE:BOIL)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Baron Oil Charts.
Baron Oil (LSE:BOIL)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Baron Oil Charts.