RE: 11% yield at current SP24 May 2023 12:33
PDMR Issue of Share Options
i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, announces that it has issued options over 3,000,000 ordinary shares in the Company to Jason Dranchuk, the Chief Financial Officer and a Person Discharging Managerial Responsibilities (a "PDMR") of the Company, as detailed below. The options are part of i3's management incentive and are in accordance with existing share schemes.
PDMR
Number of options granted
Exercise Price
Jason Dranchuk
3,000,000
20.00p
Vesting is subject to the achievement of performance-related milestones as follows:
- One-third upon achieving production of 26,000 boepd;
- One-third upon the addition of 5,000 boepd via acquisitions; and
- One-third upon the addition of 25 MMbbl of 2P reserves.
The award shall vest as to one-third upon the first, second and third anniversary of the grant date, to the extent the award has not otherwise vested in accordance with the above provisions.
Regardless of the above, 100% of the options will vest if there is a change of control of the Company. The options were granted under the Company's Employee Share Option Plan.
It looks like that's where I got the 5000 boepd figure from .