16 May 2018 11:40
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.
16 May 2018
Cabot Energy Plc
("Cabot Energy" or "the Company")
Exercise of Options and Total Voting Rights
Cabot Energy (AIM: CAB), the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, announces that Directors and employees of the Company have exercised options over a total of 3,132,227 ordinary shares, under the Cabot Energy Incentive Plan ("CEIP"), at a cost of the nominal value of the shares, being 1 pence per ordinary share. The option exercise by staff was effected as a cashless exercise as a result of which they have waived rights to options over a further 691,000 Ordinary Shares.
Application has been made for the 3,132,227 new ordinary shares (the "New Ordinary Shares") to be admitted to trading on AIM and admission is expected to take place on or around 08:00 on 21 May 2018. The New Ordinary Shares will, following admission, rank pari passu in all respects with the existing issued Ordinary Shares.
Details of the Exercise of Options
Following admission and the exercise of options as detailed above, the number of options awarded or granted to directors, senior management and current and previous employees will total 14,770,870 which will represent 2.27 per cent. of the Company's enlarged issued share capital. The breakdown of the options exercised and Directors' holdings post the exercise are:
No. of Options Exercised | No. of Ordinary Shares held after Exercise of Options | Percentage of Ordinary Shares held after Exercise of Options | |
Keith Bush | 599,831 | 1,540,257 | 0.24% |
Nick Morgan | 569,852 | 1,569,118 | 0.24% |
Paul Lafferty | 518,617 | 1,189,886 | 0.18% |
Jonathan Murphy | 460,932 | 3,165,092 | 0.49% |
Total | 2,149,232 | 7,464,353 | 1.15% |
Total Voting Rights
On admission, the Company's issued share capital will be 651,591,751 which also represents the total number of voting rights. Shareholders should use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.
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
| ||||
a)
| Name | Keith Bush | |||
2
| Reason for the notification | ||||
a)
| Position/status | Chief Executive Officer | |||
b)
| Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a)
| Name | Cabot Energy Plc | |||
b)
| LEI | 213800GT56T5VYUHOC90 | |||
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 1 pence par value | |||
|
| ||||
Identification code | GB00BF41DS29 | ||||
|
| ||||
b)
| Nature of the transaction | Exercise of option | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| 1 pence | 599,831 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 599,831 | ||||
|
| ||||
- Price | £5,998.31 | ||||
|
| ||||
e)
| Date of the transaction | 15 May 2018 | |||
f)
| Place of the transaction | London | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name | Nick Morgan | |||
2
| Reason for the notification | ||||
a)
| Position/status | Finance Director | |||
b)
| Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a)
| Name | Cabot Energy Plc | |||
b)
| LEI | 213800GT56T5VYUHOC90 | |||
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 1 pence par value | |||
|
| ||||
Identification code | GB00BF41DS29 | ||||
|
| ||||
b)
| Nature of the transaction | Exercise of option | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| 1 pence | 569,852 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 569,852 | ||||
|
| ||||
- Price | £5,698.52 | ||||
|
| ||||
e)
| Date of the transaction | 15 May 2018 | |||
f)
| Place of the transaction | London | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name | Paul Lafferty | |||
2
| Reason for the notification | ||||
a)
| Position/status | President, Cabot Energy, Inc. | |||
b)
| Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a)
| Name | Cabot Energy Plc | |||
b)
| LEI | 213800GT56T5VYUHOC90 | |||
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 1 pence par value | |||
|
| ||||
Identification code | GB00BF41DS29 | ||||
|
| ||||
b)
| Nature of the transaction | Exercise of option | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| 1 pence | 518,617 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 518,617 | ||||
|
| ||||
- Price | £5,186.17 | ||||
|
| ||||
e)
| Date of the transaction | 15 May 2018 | |||
f)
| Place of the transaction | London | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name | Jon Murphy | |||
2
| Reason for the notification | ||||
a)
| Position/status | Non executive Chairman | |||
b)
| Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a)
| Name | Cabot Energy Plc | |||
b)
| LEI | 213800GT56T5VYUHOC90 | |||
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 1 pence par value | |||
|
| ||||
Identification code | GB00BF41DS29 | ||||
|
| ||||
b)
| Nature of the transaction | Exercise of option | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| 1 pence | 460,932 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 460,932 | ||||
|
| ||||
- Price | £4,609.32 | ||||
|
| ||||
e)
| Date of the transaction | 15 May 2018 | |||
f)
| Place of the transaction | London | |||
-Ends-
For further information please contact:
Cabot Energy Plc | +44 (0)20 7469 2900 |
Keith Bush, Chief Executive Officer | |
Nick Morgan, Finance Director | |
SP Angel Corporate Finance LLP | +44 (0)20 3470 0470 |
Nominated Adviser and Joint Broker | |
Richard Morrison, Richard Redmayne | |
GMP FirstEnergy LLP | +44 (0)20 7448 0200 |
Joint Broker | |
Jonathan Wright, David van Erp | |
FTI Consulting | +44 (0)20 3727 1000 |
Financial PR | |
Edward Westropp |
Note to Editors:
Cabot Energy is an oil and gas company focused on production led growth. The Company is undertaking a redevelopment and production project in north west Alberta and has a broader portfolio of exploration and appraisal opportunities in countries of relatively low political risk, primarily Italy. Comprehensive information on Cabot Energy and its oil and gas operations, including press releases, annual reports and interim reports are available from Cabot Energy's website: www.cabot-energy.com