Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
27 July 2023
Prospex Energy PLC
('Prospex' or the 'Company')
Award of Options
Prospex Energy PLC, the AIM quoted investment company focused on European energy projects, has today granted a total of 4,200,000 share options in the Company to directors and other staff (the "Options") following the Company's success in commencing gas production from the Podere Maiar-1 well in Italy announced on 5 July 2023. The new options awarded represent 1.43% of the total issued share capital of the Company on 31 July 2023. The new award results in the total number of options awarded to staff and management of 17,946,364 which represents 6.11% of the total issued share capital on 31 July 2023.
The options have been awarded at 7.0p per share representing an 11.1% premium to 6.3p, the closing price of Prospex shares on 26 July 2023.
The Options vest immediately and are exercisable for a period of five years.
The Options to be issued are set out below:
| Mark Routh | 1,200,000 |
| William Smith | 300,000 |
| Alasdair Buchanan | 300,000 |
| Andrew Hay | 900,000 |
| Grant Glanfield | 500,000 |
| Other non-PDMR staff | 1,000,000 |
| Total | 4,200,000 |
Options currently held by directors/PDMRs:
| Director* /PDMR | Expiry 14/04/25 | Strike Price | Expiry 17/3/25 | Strike Price | Expiry 22/09/27 | Strike Price | Expiry 27/02/28 | Strike Price | Total |
| William Smith* | 21,669 | 75.0p | 900,000 | 5.0p | 900,000 | 8.15p | 370,000 | 12.25p | 2,191,669 |
| Alasdair Buchanan* | - | - | 900,000 | 5.0p | 900,000 | 8.15p | 370,000 | 12.25p | 2,170,000 |
| Mark Routh* | - | - | 2,100,000 | 5.0p | 900,000 | 8.15p | 1,233,333 | 12.25p | 4,233,333 |
| Andrew Hay* | - | - | - | - | - | - | - | - | - |
| Grant Glanfield | - | - | - | - | | | 575,556 | 12.25p | 575,556 |
| Total | 21,669 | - | 3,900,000 | - | 2,700,000 | - | 2,548,889 | - | 9,170,558 |
Directors'/PDMRs total Options after this award:
| Director*/PDMR | Number | % of share capital at 31 July 2023 |
| Mark Routh* | 5,433,333 | 1.85% |
| William Smith* | 2,491,669 | 0.85% |
| Alasdair Buchanan* | 2,470,000 | 0.84% |
| Andrew Hay* | 900,000 | 0.31% |
| Grant Glanfield | 1,075,556 | 0.37% |
| Total Directors/PDMRs | 12,370,558 | 4.21% |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
* * ENDS * *
For further information visit www.prospex.energy or contact the following:
| Mark Routh | Prospex Energy PLC | Tel: +44 (0) 20 7236 1177 |
| Ritchie Balmer | Strand Hanson Limited | Tel: +44 (0) 20 7409 3494 |
| Jerry Keen | Fox-Davies Capital Limited | Tel: +44 (0) 20 3884 7447 |
| Andrew Monk (Corporate Broking) | VSA Capital Limited | Tel: +44 (0) 20 3005 5000 |
| Ana Ribeiro / Susie Geliher | St Brides Partners Limited | Tel: +44 (0) 20 7236 1177 |
PDMR Notification
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | William Smith | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Prospex Energy 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 instrument, type of instrument | Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc | ||||
| Identification code | GB00BMFZVZ53 | |||||
| b) | Nature of the Transaction | Issue of options to acquire Ordinary Shares over the next 5 years | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume Price | N/A (Single Transaction) | ||||
| e) | Date of the transaction | 26 July 2023 | ||||
| f) | Place of the transaction | AIM | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Alasdair Buchanan | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Prospex Energy 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 instrument, type of instrument | Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc | ||||
| Identification code | GB00BMFZVZ53 | |||||
| b) | Nature of the Transaction | Issue of options to acquire Ordinary Shares over the next 5 years | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume Price | N/A (Single Transaction) | ||||
| e) | Date of the transaction | 26 July 2023 | ||||
| f) | Place of the transaction | AIM | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Mark Routh | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Prospex Energy 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 instrument, type of instrument | Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc | ||||
| Identification code | GB00BMFZVZ53 | |||||
| b) | Nature of the Transaction | Issue of options to acquire Ordinary Shares over the next 5 years | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume Price | N/A (Single Transaction) | ||||
| e) | Date of the transaction | 26 July 2023 | ||||
| f) | Place of the transaction | AIM | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Andrew Hay | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Prospex Energy 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 instrument, type of instrument | Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc | ||||
| Identification code | GB00BMFZVZ53 | |||||
| b) | Nature of the Transaction | Issue of options to acquire Ordinary Shares over the next 5 years | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume Price | N/A (Single Transaction) | ||||
| e) | Date of the transaction | 26 July 2023 | ||||
| f) | Place of the transaction | AIM | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Grant Glanfield | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Group Head of Finance | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Prospex Energy 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 instrument, type of instrument | Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc | ||||
| Identification code | GB00BMFZVZ53 | |||||
| b) | Nature of the Transaction | Issue of options to acquire Ordinary Shares over the next 5 years | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume Price | N/A (Single Transaction) | ||||
| e) | Date of the transaction | 26 July 2023 | ||||
| f) | Place of the transaction | AIM | ||||
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