TIDMHUR
RNS Number : 3667A
Hurricane Energy PLC
20 January 2020
20 January 2020
Hurricane Energy plc
("Hurricane" or the "Company")
Award of Shares under the Share Incentive Plan
Hurricane Energy plc, the UK based oil and gas company focused
on hydrocarbon resources in naturally fractured basement
reservoirs, announces the award of shares to Hurricane employees
under the Hurricane Energy plc Share Incentive Plan ("SIP").
On 20 January 2020, Hurricane received notification from Global
Shares Trustee Company Limited ("SIP Trustee"), trustee of the SIP,
that it has awarded 1,674,240 ordinary shares of GBP0.001 each in
the Company ("Ordinary Shares") to participants in the SIP at a
price of 25.63 pence per share, being the closing mid-market price
on 17 January 2020.
The SIP award will be satisfied in part by the issue of
1,643,503 new Ordinary Shares to the SIP Trustee at a subscription
price of GBP0.001 per share, being the nominal value of the shares.
Application has been made for these new Ordinary Shares to be
admitted to trading on AIM. Admission is expected to take place by
24 January 2020. The shares will rank pari passu with the existing
Ordinary Shares.
Following the SIP awards, Hurricane's total issued and voting
share capital will comprise 1,991,871,556 Ordinary Shares. This
figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in,
securities of the Company.
The Company operates the SIP annually to encourage and deepen
share ownership in the Company. Under the plan, which is approved
by HM Revenue & Customs, each participating employee will
receive an allocation of Partnership Shares (being shares acquired
at market value using contributions deducted from employees'
pre-tax salaries; "Partnership Shares"), Matching Shares (being
ordinary shares of twice the number of Partnership Shares acquired
by an employee which are paid for by the Company; "Matching
Shares") and Free Shares (being ordinary shares to a value not
exceeding GBP3,600 in the current tax year, which are paid for by
the Company; "Free Shares").
Under the SIP, the following persons discharging managerial
responsibilities of the Company were awarded the following number
of Ordinary Shares:
Name Number of Number of Number of
Partnership Shares Matching Shares Free Shares
Dr Robert Trice 7,023 14,046 14,046
-------------------- ----------------- -------------
Alistair Stobie 7,023 14,046 14,046
-------------------- ----------------- -------------
Neil Platt 7,023 14,046 14,046
-------------------- ----------------- -------------
Richard Chaffe 7,023 14,046 14,046
-------------------- ----------------- -------------
Melissa Clare 7,023 14,046 14,046
-------------------- ----------------- -------------
Stephen Holmes 7,023 14,046 14,046
-------------------- ----------------- -------------
Daniel Jankes 7,023 14,046 14,046
-------------------- ----------------- -------------
Moira Slightam 7,023 14,046 14,046
-------------------- ----------------- -------------
Richard Tomlins 7,023 14,046 14,046
-------------------- ----------------- -------------
The below information is intended to satisfy the Company's
obligations under Article 19(3) of EU Regulation No 596/2014 (the
Market Abuse Regulation).
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: a) Dr Robert Trice
b) Alistair Stobie
c) Neil Platt
d) Richard Chaffe
e) Melissa Clare
f) Stephen Holmes
g) Daniel Jankes
h) Moira Slightam
i) Richard Tomlins
-------------------------------- -----------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position/status: a) Chief Executive Officer
b) Chief Financial Officer
c) Chief Operations Officer
d) Finance Director
e) General Manager (Aberdeen)
f) Production Operations Director
g) General Counsel
h) Subsurface Technical Director
i) Development and Engineering Technical
Director
-------------------------------- -----------------------------------------------
b) Initial notification/Amendment: Initial Notification
-------------------------------- -----------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Hurricane Energy plc
-------------------------------- -----------------------------------------------
b) LEI: 2138007Z66OO4XWKM819
-------------------------------- -----------------------------------------------
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 Ordinary shares of 0.1p each in Hurricane
financial instrument, Energy plc ("Shares")
type of instrument: ISIN: GB00B580MF54
Identification code:
-------------------------------- -----------------------------------------------
b) Nature of the transaction: Award of Shares by the SIP Trustee
pursuant to the SIP.
-------------------------------- -----------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
a) 25.63p 35,115
--------- ----------
b) 25.63p 35,115
--------- ----------
c) 25.63p 35,115
--------- ----------
d) 25.63p 35,115
--------- ----------
e) 25.63p 35,115
--------- ----------
f) 25.63p 35,115
--------- ----------
g) 25.63p 35,115
--------- ----------
h) 25.63p 35,115
--------- ----------
i) 25.63p 35,115
--------- ----------
-------------------------------- -----------------------------------------------
d) Aggregated information:
* Price: 25.63p
Volume: 316,035
* Volume:
-------------------------------- -----------------------------------------------
e) Date of the transaction: 20 January 2020
-------------------------------- -----------------------------------------------
f) Place of the transaction: London Stock Exchange (XLON)
-------------------------------- -----------------------------------------------
Contacts:
Hurricane Energy plc
Dr Robert Trice, Chief Executive Officer +44 (0)1483 862
Alistair Stobie, Chief Financial Officer 820
Stifel Nicolaus Europe Limited
Nominated Adviser & Joint Corporate Broker
Callum Stewart / Nicholas Rhodes / Ashton
Clanfield +44 (0)20 7710 7600
Morgan Stanley & Co. International plc
Joint Corporate Broker
Andrew Foster / Tom Perry / Alex Smart +44 (0)20 7425 8000
Vigo Communications
Public Relations
Patrick d'Ancona / Ben Simons
hurricane@vigocomms.com +44 (0)20 7390 0230
About Hurricane
Hurricane was established to discover, appraise and develop
hydrocarbon resources associated with naturally fractured basement
reservoirs. The Company's acreage is concentrated on the Rona
Ridge, in the West of Shetland region of the UK Continental
Shelf.
The Lancaster field (100% owned by Hurricane) is the UK's first
producing basement field. Hurricane is pursuing a phased
development of Lancaster, starting with an Early Production System
consisting of two wells tied-back to the Aoka Mizu FPSO.
Hydrocarbons were introduced to the FPSO system on 11 May 2019 and
the first oil milestone was achieved on 4 June 2019.
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln
and Warwick assets, committing to a phased work programme targeting
sanction of an initial stage of full field development.
Glossary
FPSO Floating production storage and offloading
vessel
Spirit Energy Spirit Energy Limited
===========================================
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.
END
DSHBLGDBRGDDGGG
(END) Dow Jones Newswires
January 20, 2020 11:12 ET (16:12 GMT)
Hurricane Energy (LSE:HUR)
Historical Stock Chart
From Apr 2024 to May 2024
Hurricane Energy (LSE:HUR)
Historical Stock Chart
From May 2023 to May 2024