18 Mar 2022 07:00
18 March 2022
Advance Energy plc
("Advance Energy" or the "Company")
Grant of Share Options
Advance Energy ( AIM:ADV ), the energy company seeking growth through acquisition or farm-in to discovered upstream projects, announces a grant of options over 30,000,000 new ordinary shares ("Ordinary Shares") to the Interim Chief Executive Officer, Larry Bottomley (the "Options").
The Options have an exercise price of 0.3 pence per Ordinary Share, with 50 per cent of the Options vesting 6 months from 17 March 2022 and the remainder vesting one year from 17 March 2022. This award has been made to incentivise the successful delivery of the Company's strategy while managing costs as part of the focus on capital discipline.
Following this grant of Options, Mr Bottomley will be interested in 30,000,000 options over Ordinary Shares in the Company.
Enquiries:
Advance Energy plc Larry Bottomley (Interim CEO) / Stephen West (CFO) | +44 (0)1624 681 250 | ||
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Strand Hanson Limited (Financial and Nominated Adviser) Rory Murphy / James Harris / James Bellman | +44 (0)20 7409 3494 | ||
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Buchanan (Public Relations) Ben Romney / Jon Krinks | +44 (0)20 7466 5000 | ||
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Tennyson Securities Limited (Joint Broker) Peter Krens / Ed Haig-Thomas | +44 (0)20 7186 9030 | ||
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Optiva Securities Limited (Joint Broker) Christian Dennis | +44 (0)20 3411 1881 | ||
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For further information, please visit www.advanceplc.com and @advanceplc on Twitter
To register for Advance Energy's email alerts, please complete the following form: https://www.advanceplc.com/media-centre/news/#alerts
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name
| Larry Bottomley | |||
2
| Reason for the notification
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a)
| Position/status
| Interim Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name
| Advance 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
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a)
| Description of the financial instrument, type of instrument | Options over Ordinary Shares | |||
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Identification code | IM00BZ7PNY71 | ||||
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b)
| Nature of the transaction
| Grant of options | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| 0.3p | Options over 30,000,000 ordinary shares |
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d)
| Aggregated information |
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- Aggregated volume |
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- Price | 0.3 p | ||||
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e)
| Date of the transaction
| 17 March 2022 | |||
f)
| Place of the transaction
| Outside a trading venue | |||