TIDMJOG
RNS Number : 1338D
Jersey Oil and Gas PLC
29 January 2018
29 January 2018
Jersey Oil and Gas plc
("Jersey Oil and Gas" or the "Company")
Grant of Share Options
Jersey Oil and Gas (AIM: JOG), an independent upstream oil and
gas company focused on the UK Continental Shelf ("UKCS") region of
the North Sea, announces that it has today granted options over, in
aggregate, 770,000 ordinary shares of 1p each in the share capital
of the Company to its directors, senior management and employees at
an exercise price of 200 pence per share (the "Options"), being the
same price as the Company's last successful fundraising completed
on 9 November 2017 (the "Fundraising")
As set out in the circular to shareholders of 24 October 2017 in
respect of the Fundraising and further to, inter alia, the farm-out
to Statoil (U.K.) Limited of an interest in, and the subsequent oil
discovery at, Verbier (UK Seaward Licence P.2170, Blocks 20/5b
& 21/1d), the Remuneration Committee has considered suitable
grants of options to Executive Directors having regard to the
Company's progress to date. These option awards were approved by
the Remuneration Committee, as part of the Company's annual pay
review completed in December 2017, under the Jersey Oil and Gas plc
2016 Enterprise Management Incentive and Unapproved Share Option
Plan.
The Company has been in a close period with respect to dealings
in its own shares for much of the time since completion of the
Fundraising and the above-mentioned pay review such that today
represents the first practical opportunity to grant these Options
as further detailed below.
Executive Directors
The following new Options have been granted to executive
directors of the Company:
Name Position Number Exercise Exercise Total
Of New Price Period Options
Options Per Share Held Following
Granted (pence) This Grant
------------------ ----------------- --------- ----------- --------- ----------------
Chief Executive
Andrew Benitz Officer 180,000 200 7 years 360,000
------------------ ----------------- --------- ----------- --------- ----------------
Chief Operating
Ronald Lansdell Officer 180,000 200 7 years 360,000
------------------ ----------------- --------- ----------- --------- ----------------
Scott Richardson Chief Financial
Brown Officer 120,000 200 7 years 250,000
------------------ ----------------- --------- ----------- --------- ----------------
All the Options set out in the table above for Executive
Directors vest entirely on the third anniversary of their date of
grant subject to the satisfaction of certain performance conditions
to be determined and interpreted at the discretion of the
Remuneration Committee. Subject to vesting and such performance
conditions being met, the Options are exercisable at any time
between the third and seventh anniversaries of their date of grant
and if not exercised by that date, will lapse.
Non-Executive Directors
The following new Options have been granted to non-executive
directors of the Company:
Name Position Number Exercise Exercise Total Options
Of New Price Period Held Following
Options Per Share This Grant
Granted (pence)
------------- --------------- --------- ----------- --------- ----------------
Marcus Non-Executive
Stanton Chairman 40,000 200 5 years 81,570
------------- --------------- --------- ----------- --------- ----------------
Non-Executive
Frank Moxon Director 20,000 200 5 years 40,000
------------- --------------- --------- ----------- --------- ----------------
All the Options set out in the table above for such
Non-Executive Directors vest entirely on the third anniversary of
their date of grant, have no performance conditions and are
exercisable, in whole or in part, at any time between the third and
fifth anniversaries of their date of grant, and if not exercised by
that date, will lapse.
The number of Options granted to each of Marcus Stanton
(Non-Executive Chairman) and Frank Moxon (Non-Executive Director)
has been capped, based on their respective salary levels.
Senior Management and Employees
A further 230,000 Options, in aggregate, have been granted to
certain other members of senior management and employees at the
same exercise price of 200 pence per share.
Enquiries:
Jersey Oil and Andrew Benitz, C/o Camarco:
Gas plc CEO Tel: 020 3757 4983
Strand Hanson Limited James Harris Tel: 020 7409 3494
Matthew Chandler
James Bellman
Arden Partners Chris Hardie Tel: 020 7614 5900
plc Benjamin Cryer
BMO Capital Markets Neil Haycock Tel: 020 7236 1010
Limited Thomas Rider
Camarco Billy Clegg Tel: 020 3757 4983
Georgia Edmonds
James Crothers
Notes to Editors:
Jersey Oil & Gas is a UK E&P Company focused on building
a production focused company in the North Sea. The Company owns an
18 per cent. interest in the P.2170 "Verbier" licence, Blocks 20/5b
& 21/1d, Inner Moray Firth in which the operator Statoil (U.K.)
Limited owns a 70% interest and CIECO V&C (UK) Limited owns a
12% interest.
The Company plans to build a production portfolio via
acquisitions coinciding with the cyclical recovery in the oil price
and the current opportune buying market in the North Sea. The
Company is involved in multiple sales processes and intends to draw
on its management team's considerable experience, knowledge and
expertise to deliver shareholder value from its stated production
acquisition strategy.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
PDMR Notification Forms:
The notifications below are made in accordance with the
requirements of MAR.
1. Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------------
a) Name Andrew Benitz
--- ------------------------------- -----------------------------------
2. Reason for the Notification
--- --------------------------------------------------------------------
a) Position/status Chief Executive Officer (Director)
--- ------------------------------- -----------------------------------
b) Initial notification/amendment Initial notification
--- ------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- --------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
--- ------------------------------- -----------------------------------
b) LEI 213800RIR1SZC1734G32
--- ------------------------------- -----------------------------------
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 Options over ordinary shares
Financial instrument, of 1 pence each in the Company
type of instrument
--- ------------------------------- -----------------------------------
Identification code GB00BYN5YK77
--- ------------------------------- -----------------------------------
b) Nature of the Transaction Grant of Options over ordinary
shares of 1 pence each in
the Company
--- ------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
200p 180,000
--- ------------------------------- -----------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume
Price
--- ------------------------------- -----------------------------------
e) Date of the transaction 29 January 2018
--- ------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, AIM
Market (XLON)
--- ------------------------------- -----------------------------------
1. Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------------
a) Name Ronald Lansdell
--- ------------------------------- -----------------------------------
2. Reason for the Notification
--- --------------------------------------------------------------------
a) Position/status Chief Operating Officer (Director)
--- ------------------------------- -----------------------------------
b) Initial notification/amendment Initial notification
--- ------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- --------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
--- ------------------------------- -----------------------------------
b) LEI 213800RIR1SZC1734G32
--- ------------------------------- -----------------------------------
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 Options over ordinary shares
Financial instrument, of 1 pence each in the Company
type of instrument
--- ------------------------------- -----------------------------------
Identification code GB00BYN5YK77
--- ------------------------------- -----------------------------------
b) Nature of the Transaction Grant of Options over ordinary
shares of 1 pence each in
the Company
--- ------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
200p 180,000
--- ------------------------------- -----------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume
Price
--- ------------------------------- -----------------------------------
e) Date of the transaction 29 January 2018
--- ------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, AIM
Market (XLON)
--- ------------------------------- -----------------------------------
1. Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------------
a) Name Scott Richardson Brown
--- ------------------------------- -----------------------------------
2. Reason for the Notification
--- --------------------------------------------------------------------
a) Position/status Chief Financial Officer (Director)
--- ------------------------------- -----------------------------------
b) Initial notification/amendment Initial notification
--- ------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- --------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
--- ------------------------------- -----------------------------------
b) LEI 213800RIR1SZC1734G32
--- ------------------------------- -----------------------------------
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 Options over ordinary shares
Financial instrument, of 1 pence each in the Company
type of instrument
--- ------------------------------- -----------------------------------
Identification code GB00BYN5YK77
--- ------------------------------- -----------------------------------
b) Nature of the Transaction Grant of Options over ordinary
shares of 1 pence each in
the Company
--- ------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
200p 120,000
--- ------------------------------- -----------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume
Price
--- ------------------------------- -----------------------------------
e) Date of the transaction 29 January 2018
--- ------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, AIM
Market (XLON)
--- ------------------------------- -----------------------------------
1. Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------------
a) Name Marcus Stanton
--- ------------------------------- ----------------------------------
2. Reason for the Notification
--- -------------------------------------------------------------------
a) Position/status Non-Executive Chairman (Director)
--- ------------------------------- ----------------------------------
b) Initial notification/amendment Initial notification
--- ------------------------------- ----------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- -------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
--- ------------------------------- ----------------------------------
b) LEI 213800RIR1SZC1734G32
--- ------------------------------- ----------------------------------
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 Options over ordinary shares
Financial instrument, of 1 pence each in the Company
type of instrument
--- ------------------------------- ----------------------------------
Identification code GB00BYN5YK77
--- ------------------------------- ----------------------------------
b) Nature of the Transaction Grant of Options over ordinary
shares of 1 pence each in
the Company
--- ------------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
200p 40,000
--- ------------------------------- ----------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume
Price
--- ------------------------------- ----------------------------------
e) Date of the transaction 29 January 2018
--- ------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange, AIM
Market (XLON)
--- ------------------------------- ----------------------------------
1. Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------------
a) Name Frank Moxon
--- ------------------------------- ----------------------------------
2. Reason for the Notification
--- -------------------------------------------------------------------
a) Position/status Non-Executive Director (Director)
--- ------------------------------- ----------------------------------
b) Initial notification/amendment Initial notification
--- ------------------------------- ----------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- -------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
--- ------------------------------- ----------------------------------
b) LEI 213800RIR1SZC1734G32
--- ------------------------------- ----------------------------------
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 Options over ordinary shares
Financial instrument, of 1 pence each in the Company
type of instrument
--- ------------------------------- ----------------------------------
Identification code GB00BYN5YK77
--- ------------------------------- ----------------------------------
b) Nature of the Transaction Grant of Options over ordinary
shares of 1 pence each in
the Company
--- ------------------------------- ----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
200p 20,000
--- ------------------------------- ----------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume
Price
--- ------------------------------- ----------------------------------
e) Date of the transaction 29 January 2018
--- ------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange, AIM
Market (XLON)
--- ------------------------------- ----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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