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3 Apr 2024 09:15
FOR IMMEDIATE RELEASE 3 April 2024
CAPRICORN ENERGY PLC ("Capricorn" or the "Company")
Interests of Directors / Persons Discharging Managerial Responsibility ("PDMRs")
in the Company's Shares
1. Grant of 2024 Awards under the Company's Long Term Incentive Plan (2017)
Capricorn announces that, on 3 April 2024, the following awards (in the form of "nil-cost" options) ("Awards") over its ordinary shares of 735/143 pence each ("Shares") were made under the Long Term Incentive Plan approved by shareholders in 2017 (the "2017 LTIP") to the undernoted Executive Director and PDMRs of the Company:
Executive Director / PDMR | Number of Shares |
Randy Neely, Chief Executive | 571,428 |
Geoff Probert, Chief Operating Officer | 428,571 |
Nathan Piper, Commercial Director | 171,428 |
All Shares were awarded at £1.75 per Share, being the mid-market closing price of a Share on the dealing day immediately preceding the grant date. The vesting of the Awards (which, in the case of Randy Neely's, has been granted in accordance with the Company's directors' remuneration policy that was approved at the 2023 AGM) depends upon the extent to which specified performance conditions are met over a three-year performance period. Following any such vesting, the Award granted to Randy Neely will be subject to a further two year "holding period" during which it cannot be exercised. The Award granted to Geoff Probert will be subject to a one year "holding period".
2. Grant of 2024 Awards under the Company's Deferred Bonus Scheme
In terms of Capricorn's directors' remuneration policy that was approved at the 2023 AGM, 25% of an Executive Director's annual bonus must delivered in the form of an award of Shares under the Company's Deferred Bonus Plan ("DBP") that will vest at the end of a further period of three years. The vesting of any such Award is not subject to the satisfaction of any additional performance conditions.
Accordingly, Capricorn announces that, on 3 April 2024, the following Award was made under the DBP to the undernoted Executive Director of the Company:
Executive Director / PDMR | Number of Shares |
Randy Neely, Chief Executive | 37,164 |
All Shares were awarded at £1.75 per Share, being the closing price of a Share on the dealing day immediately preceding the grant date.
3. Summary of current holdings of Executive Directors / PDMRs
Following the grant of the above Awards, the Executive Director's and PDMRs' beneficial interests in the Shares of the Company are as follows:
Executive Director / PDMR | Current Shares | % Issued Share Capital | Outstanding entitlements under 2017 LTIP and DBP
| |
Awards still subject to performance conditions | Awards not subject to performance conditions* | |||
Randy Neely | 2,107 | 0.002 | 1,109,930 | 37,164 |
Geoff Probert | 0 | 0 | 428,571 | 0 |
Nathan Piper | 3,676 | 0.004 | 279,128 | 0 |
* This column includes (i) all outstanding awards under the 2017 LTIP that have vested following the expiry of the applicable performance period; and (ii) all outstanding awards under the DBP, the vesting of which is not subject to performance condition satisfaction.
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Randy Neely | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Capricorn Energy PLC | ||||
b) | LEI | 213800ZJEUQ8ZOC9AL24 | ||||
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 735/143 pence each ("Shares") | ||||
Identification code | GB00BRJ7R218 | |||||
b) | Nature of the transaction | Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 3 April 2024 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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 735/143 pence each ("Shares") | ||||
Identification code | GB00BRJ7R218 | |||||
b) | Nature of the transaction | Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the DBP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 3 April 2024 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Nathan Piper | ||||
2 | Reason for the notification | |||||
a) | Position/status | Commercial Director | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Capricorn Energy PLC | ||||
b) | LEI | 213800ZJEUQ8ZOC9AL24 | ||||
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 735/143 pence each ("Shares") | ||||
Identification code | GB00BRJ7R218 | |||||
b) | Nature of the transaction | Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 3 April 2024 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Geoff Probert | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Operating Officer | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Capricorn Energy PLC | ||||
b) | LEI | 213800ZJEUQ8ZOC9AL24 | ||||
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 735/143 pence each ("Shares") | ||||
Identification code | GB00BRJ7R218 | |||||
b) | Nature of the transaction | Award (in the form of a nil-cost option) of a right to acquire Shares in the Company pursuant to the 2017 LTIP. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable | ||||
e) | Date of the transaction | 3 April 2024 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
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