25 Jan 2019 07:00
25 January 2019
EGDON RESOURCES PLC
("Egdon" or "the Company")
Grant of Options
Egdon Resources plc (AIM:EDR) announces that as part of a periodic incentive review it has granted options to the following Directors.
Director | Number of Options granted | Exercise Price (pence)
| Vesting Date | Exercisable Until |
Mark Abbott | 1,210,191 | 7.85p | 1 January 2020 | 1 January 2030 |
Martin Durham | 955,414 | 7.85p | 1 January 2020 | 1 January 2030 |
The options were set at an exercise price of 7.85p being the average closing mid-price for the five trading days ended 22 January 2019.
Following the grant of the options on 24 January 2019, the interests of the Directors in the share capital of the Company are as follows:
Director | Total number of Options held over Ordinary Shares | Number of Ordinary Shares held |
Mark Abbott | 3,153,297 | 8,089,387 |
Martin Durham | 2,387,951 | 0 |
In addition, the Company has granted options to employees on the same basis as Directors. The total number of options granted to Directors and employees of the Company is 4,526,561 (Representing 1.74% of the Company's issued share capital).
The information set out below is in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Mark Abbott | |
2. | Reason for the notification | ||
a) | Position / status | Managing Director | |
b) | Initial notification / amendment | Initial Notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Egdon Resources plc |
|
b) | LEI | 213800WWGH4S9GYSPL77 |
|
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 per share value | |
| Identification code | GB00B28YML29 | |
b) | Nature of the transaction | Grant of Options | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
7.85 pence | 1,210,191 | ||
d) | Aggregated information |
| |
- Aggregated volume | 1,210,191 Ordinary Shares of 1 pence per share value | ||
- Price11 | 7.85 pence per share | ||
e) | Date of the transaction | 24 January 2019 | |
f) | Place of the transaction | Outside a trading venue | |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Martin Durham | |
2. | Reason for the notification | ||
a) | Position / status | Technical Director | |
b) | Initial notification / amendment | Initial Notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Egdon Resources plc |
|
b) | LEI | 213800WWGH4S9GYSPL77 |
|
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 per share value | |
| Identification code | GB00B28YML29 | |
b) | Nature of the transaction | Grant of Options | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
7.85 pence | 955,414 | ||
d) | Aggregated information |
| |
- Aggregated volume | 955,414Ordinary Shares of 1 pence per share value | ||
- Price11 | 7.85 pence per share | ||
e) | Date of the transaction | 24 January 2019 | |
f) | Place of the transaction | Outside a trading venue | |
For further information please contact:
Egdon Resources plc
Mark Abbott 01256 702 292
Buchanan
Ben Romney, Chris Judd 020 7466 5000
Nominated Adviser and Broker - Cantor Fitzgerald Europe
David Porter/Nick Tulloch (Corporate Finance) 020 7894 7000
Caspar Shand Kydd (Sales)
Joint Broker - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
Notes to Editors:
Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company focused on onshore exploration and production in the hydrocarbon-producing basins of the UK.
Egdon holds interests in 44 licences in the UK and has an active programme of exploration, appraisal and development within its portfolio of oil and gas assets. Egdon is an approved operator in the UK.
Egdon was formed in 1997 and listed on AIM in December 2004.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain