Prospex Oil and Gas PLC Award of Share Options (5636O)
June 01 2020 - 6:46AM
UK Regulatory
TIDMPXOG
RNS Number : 5636O
Prospex Oil and Gas PLC
01 June 2020
Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil
and Gas
1 June 2020
Prospex Oil and Gas Plc
("Prospex" or the "Company")
Award of Share Options
Prospex Oil and Gas Plc, the AIM quoted investment company,
announces that it has today awarded a total of 142,626,506 options
over new Ordinary Shares in the Company to members of the Board and
other staff (the 'Options'). The Options awarded represent 6.44% of
the currently issued share capital of the Company.
The Options have been awarded with a strike price of 0.16p per
ordinary share, being a 33% premium to the price at which the
Company completed its recent Placing as announced on 30 January
2020 and a 33% premium to the mid-market closing share price of the
Company's Ordinary Shares on 29 May 2020. The Options will vest
immediately and are exercisable for a period of 3 years.
The Options issued are set out below:
Number of Options awarded Total shares options
now held over share
capital of Company
Edward Dawson 33,029,296 49,969,569
-------------------------- ---------------------
Richard Mays 20,267,977 30,663,145
-------------------------- ---------------------
James Smith 20,267,977 30,663,145
-------------------------- ---------------------
William Smith 20,267,977 30,663,145
-------------------------- ---------------------
Other staff / personnel
(non-PDMR) 48,793,278 68,043,588
-------------------------- ---------------------
Total 142,626,506 210,002,593
-------------------------- ---------------------
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
* *S * *
For further information visit www.prospexoilandgas.com or
contact the following:
Edward Dawson Prospex Oil and Gas Plc Tel: +44 (0) 20 3948
1619
Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer 3494
Jack Botros
Colin Rowbury Novum Securities Limited Tel: +44 (0) 20 7399
Jon Belliss 9427
Duncan Vasey Peterhouse Corporate Finance Tel: +44 (0) 20 7469
0932
Frank Buhagiar St Brides Partners Ltd Tel: +44 (0) 20 7236
Cosima Akerman 1177
Notes
Prospex Oil and Gas Plc is an AIM quoted investment company
focussed on high impact onshore and shallow offshore European
opportunities with short timelines to production. The Company's
management is looking to acquire undervalued projects with
multiple, tangible value trigger points that can be realised within
12 months of acquisition and then applying low cost re-evaluation
techniques to identify and de-risk prospects.
PDMR Notifications
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Edward Dawson
-------------------------------- -------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Prospex Oil and Gas Plc
-------------------------------- -------------------------------------
b) LEI 213800NY9RH8O1B72D27
-------------------------------- -------------------------------------
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 Ordinary shares of 0.1p each in the
[ ]instrument, type of share capital of the Prospex Oil &
instrument Gas plc
-------------------------------- -------------------------------------
Identification code GB00BW4NPC58
-------------------------------- -------------------------------------
b) Nature of the Transaction Issue of options to acquire Ordinary
Shares over the next 3 years
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.16p pence 33,029,296
-----------
-------------------------------- -------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -------------------------------------
e) Date of the transaction 1 June 2020
-------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
-----------------------------------------------------------------------
a) Name Richard Mays
-------------------------------- -------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Prospex Oil and Gas Plc
-------------------------------- -------------------------------------
b) LEI 213800NY9RH8O1B72D27
-------------------------------- -------------------------------------
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 Ordinary shares of 0.1p each in the
instrument, type of instrument share capital of the Prospex Oil &
Gas plc
-------------------------------- -------------------------------------
Identification code GB00BW4NPC58
-------------------------------- -------------------------------------
b) Nature of the Transaction Issue of options to acquire Ordinary
Shares over the next 3 years
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.16p 20,267,977
-----------
-------------------------------- -------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -------------------------------------
e) Date of the transaction 1 June 2020
-------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Smith
-------------------------------- -------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Prospex Oil and Gas Plc
-------------------------------- -------------------------------------
b) LEI 213800NY9RH8O1B72D27
-------------------------------- -------------------------------------
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 Ordinary shares of 0.1p each in the
instrument, type of instrument share capital of the Prospex Oil &
Gas plc
-------------------------------- -------------------------------------
Identification code GB00BW4NPC58
-------------------------------- -------------------------------------
b) Nature of the Transaction Issue of options to acquire Ordinary
Shares over next 3 years
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.16p 20,267,977
-----------
-------------------------------- -------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -------------------------------------
e) Date of the transaction 1 June 2020
-------------------------------- -------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- -------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name William Smith
-------------------------------- -------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Prospex Oil and Gas Plc
-------------------------------- -------------------------------------
b) LEI 213800NY9RH8O1B72D27
-------------------------------- -------------------------------------
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 Ordinary shares of 0.1p each in the
instrument, type of instrument share capital of the Prospex Oil &
Gas plc
-------------------------------- -------------------------------------
Identification code GB00BW4NPC58
-------------------------------- -------------------------------------
b) Nature of the Transaction Issue of options to acquire Ordinary
Shares over next 3 years
-------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
0.16p 20,267,977
-----------
-------------------------------- -------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -------------------------------------
e) Date of the transaction 1 June 2020
-------------------------------- -------------------------------------
f) Place of the 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.
END
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