RE: Serious move coming15 Jul 2023 08:25
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:
*[1]~One-third upon achieving production
of 26,000 boepd;*
*(2)-One-third upon the addition of
5,000 boepd via acquisitions;*
and
*(3)-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.
*(4)-Regardless of the above,
100% of the options will vest
if there is a change of control of the Company*
We Just need to be patient and let Majid and J.D
get on with running the business..
I feel confident that we will be
well over a 25,000 bopd soon..