TIDMPPC
RNS Number : 9254R
President Energy PLC
20 June 2018
20 June 2018
PRESIDENT ENERGY PLC
("President" or "the Company")
Award of Options
President announces that it has granted share options to acquire
ordinary shares in the Company to the following persons discharging
management responsibilities together with other senior management
in accordance with the Company's Global Incentive Plan ("GIP").
The options are subject to standard conditions under the GIP
including share price performance targets, three year vesting
periods and have an exercise price of 9.25p, being the market
closing share price on 19 June 2018, the last practical day before
this announcement.
Peter Levine has voluntarily decided to relinquish all his
previously issued options and declined any further grants in the
future. Accordingly, including this, the Remuneration Committee of
President has noted that 11,275,333 previously issued options have
lapsed or have been cancelled since the Company's last award of
options announcement in June 2017.
Executive No. of Options No. of Total
Awarded Options
Rob Shepherd
Group Financial Director 5,000,000 5,000,000
-------------------------- ------------------------
Warren Levy
CEO Argentina 8,000,000 8,000,000
-------------------------- ------------------------
David Scott Daspit
VP Operations USA 2,000,000 5,000,000
-------------------------- ------------------------
Maria Claudia Perez
CFO Argentina 2,000,000 2,000,000
-------------------------- ------------------------
Senior Management
(Non PDMRs) 11,950,000 19,700,000
-------------------------- ------------------------
Each of the awarded options have a share price performance
condition, for each equal one third tranche, of 13.88p (first
tranche), 20.81p (second tranche) and 27.06p (third tranche).
In total, including existing awards and adjustments for lapsed
and cancelled option awards, the number of outstanding options
granted to management to acquire ordinary shares is now 58,450,000
or 5.5% of the Company's issued share capital. However, a total of
10,550,000 previously issued options are expected to expire on 29
July 2018; such options represent 1% of the Company's issued share
capital and at present are not currently eligible for vesting in
accordance with the performance conditions.
Contact:
President Energy PLC
Peter Levine, Chairman, Chief Executive
Rob Shepherd, Group FD +44 (0) 207 016 7950
finnCap (Nominated Advisor & Joint
Broker)
Christopher Raggett, Scott Mathieson,
Andrew Burdis +44 (0) 207 220 0573
BMO Capital Markets (Joint Broker)
Jeremy Low, Neil Haycock, Tom Rider +44 (0) 207 236 1010
Camarco Financial PR
Billy Clegg, Owen Roberts, Violet
Wilson +44 (0) 203 757 4980
The information communicated in this announcement is inside
information for the purpose of Article 7 of Regulation
596/2014.
Notes to Editors
President Energy is an oil and gas company listed on the AIM
market of the London Stock Exchange (PPC.L) primarily focused in
Argentina, with a diverse portfolio of operated onshore producing
and exploration assets. The Company currently has independently
assessed 1P reserves in excess of 15 MMboe and 2P reserves of more
than 27 MMboe.
The Company has operated interests in the Puesto Flores and
Estancia Vieja Concession, Rio Negro Province, in the Neuquén Basin
of Argentina and in the Puesto Guardian Concession, in the Noroeste
Basin in NW Argentina. The Company is focused on growing production
in the near term in Argentina. Alongside this, President Energy has
cash generative production assets in Louisiana, USA and further
significant exploration and development opportunities through its
acreage in Paraguay and Argentina.
President Energy's third largest shareholder is the IFC, part of
the World Bank Group and is actively pursuing value accretive
acquisitions of high quality production and development assets in
Argentina capable of delivering positive cash flows and shareholder
returns. With a strong institutional base of support and an
in-country management team, President Energy gives UK investors
rare access to the Argentinian growth story combined with world
class standards of corporate governance, environmental and social
responsibility.
The following disclosures are made in accordance with Article
19.3 of the EU Market Abuse Regulation 596/2014:
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 Rob Shepherd
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Group Financial Director, PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) GBP0.0925 5,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
9.25p 5,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Warren Levy
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Chief Executive Officer Argentina , PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) 9.25p 8,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
GBP0.0925 8,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name David Scott Daspit
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Vice President of USA Operations, PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) 9.25p 2,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
GBP0.0925 2,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Maria Claudia Perez
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Chief Financial Officer Argentina, PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) 9.25p 2,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
GBP0.0925 2,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
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
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