23 October 2023
Beacon Energy plc
("Beacon Energy" or the "Company")
Award of Share Options
Director / PDMR Shareholding
Beacon Energy plc (AIM:BCE), the full-cycle oil and gas company with a portfolio of onshore German assets, announces that it has granted options over, in aggregate, 503,565,644 ordinary shares of nil pence each in the capital of the Company ("Ordinary Shares") to its directors and employees (the "Options"). The Options are exercisable at a price of 0.15 pence per Ordinary Share, being the Issue Price at the Company's recent Fundraise as announced on 15 September 2023.
In addition, the Company has reached agreement with certain Directors to cancel 33,360,000 "out of the money" options for no consideration.
Issue of Options to Directors
The following Options have been granted to Company's Directors:
| Name
| Position
| Number of New Options Granted | Exercise Price Per Ordinary Share (pence) | Total Options Held Following This Grant |
| Mark Rollins | Chairman | 37,566,588 | 0.15 | 155,335,064 |
| Larry Bottomley | Chief Executive Officer | 100,177,569 | 0.15 | 492,829,705 |
| Stewart MacDonald | Chief Financial Officer | 91,661,457 | 0.15 | 269,622,711 |
| Stephen Whyte | Non-Executive Director | 18,783,294 | 0.15 | 74,863,520 |
| Ross Warner | Non-Executive Director | 18,783,294 | 0.15 | 74,863,520 |
The Options set out in the table above vest in two equal tranches, being six months and one year from the date of grant, and are exercisable for up to five years from their date of grant.
Issue of Options to Senior Management and Employees
A further 236,593,442 Options have been granted to certain other members of senior management and employees at the same exercise price of 0.15 pence per Ordinary Share, on the same terms as those set out above.
Related Party Transaction
The Option awards to directors represent a related party transaction under the AIM Rules for Companies. The director who is independent of the transaction, being Leo Koot, having consulted with the Company's nominated adviser, Strand Hanson, considers that the terms of the Option award are fair and reasonable insofar as shareholders are concerned.
Enquiries:
| Beacon Energy plc Larry Bottomley (CEO) / Stewart MacDonald (CFO) | +44 (0)20 7466 5000 |
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| Strand Hanson Limited (Financial and Nominated Adviser) Rory Murphy / James Bellman | +44 (0)20 7409 3494 |
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| Buchanan (Public Relations) Ben Romney / Barry Archer / George Pope | +44 (0)20 7466 5000 |
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| Tennyson Securities Limited (Broker) Peter Krens / Ed Haig-Thomas | +44 (0)20 7186 9030 |
PDMR Disclosure Form
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a. | Names | 1. Mark Rollins 2. Larry Bottomley 3. Stewart MacDonald 4. Stephen Whyte 5. Ross Warner
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| 2. | Reason for the notification | |||||||||||||
| a. | Position/status | 6. Chairman 7. CEO 8. CFO 9. NED 10. NED
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| b. | Initial notification/Amendment | Initial Notification | ||||||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a. | Name | Beacon Energy plc | ||||||||||||
| b. | LEI | 213800TZWOYU7UFZ5V63 | ||||||||||||
| 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 Identification code | Ordinary Shares of no par value M00BKSCP798
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| b. | Nature of the transaction | Option Awards | ||||||||||||
| c. | Price(s) and volume(s) |
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| d. | Aggregated information - Aggregated volume - Price |
N/A | ||||||||||||
| e. | Date of the transactions | 23 October 2023 | ||||||||||||
| f. | Place of the transactions | AIM, London Stock Exchange | ||||||||||||
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