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Last checked at 
18 Mar 2022 08:00
18 March 2022
PDMR Share ISSUANCE
VAALCO Energy, Inc. announces a correction to the PDMR share issuance announced at 08:14 on 16 March 2022 under RNS Number 9557E. The number of shares awarded to George Maxwell had been overstated; the amended announcement appears below in full containing the corrected figures.
VAALCO Energy, Inc. ("VAALCO" or "Company") announces that on 11 March 2022, restricted shares in the Company ("Restricted Shares") were issued to persons discharging managerial responsibility in the Company as listed below. The Common Shares will be allotted in proportions over a three year period at a price per common share ("Common Share") of $6.41.
Name | Role | Nature of transaction | Number of Common Shares | Price per share ($) |
George Maxwell | CEO | Award of Restricted Shares | 43,799 | $6.41 |
Ronald Bain | CFO | Award of Restricted Shares | 20,558 | $6.41 |
David DesAutels | EVP, Corp. Dev. | Award of Restricted Shares | 13,658 | $6.41 |
Michael Silver | EVP, GC & Corp. Secretary | Award of Restricted Shares | 20,464 | $6.41 |
Jason Doornik | CAO & Controller | Award of Restricted Shares | 13,198 | $6.41 |
VAALCO announces that on 11 March 2022, Performance Options ("Performance Options") were granted to persons discharging managerial responsibility in the Company as listed below. These will convert into Common Shares and will vest over a three year period after the grant date, subject to the performance conditions attached to each allocation being met. The Performance Shares were issued at the grant price indicated below.
Name | Role | Nature of transaction | Number of Common Shares | Price per share ($) |
George Maxwell | CEO | Award of Performance Options | 84,831 | $6.41 |
Ronald Bain | CFO | Award of Performance Options | 46,432 | $6.41 |
David DesAutels | EVP, Corp. Dev. | Award of Performance Options | 30,849 | $6.41 |
Michael Silver | EVP, GC & Corp. Secretary | Award of Performance Options | 46,221 | $6.41 |
About VAALCO
VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.
The Company is an established operator within the region, holding a 31.1% working interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 110 million barrels of crude oil and of which the Company is the operator.
For Further Information
VAALCO Energy, Inc. (General and Investor Enquiries) +00 1 713 623 0801
Website: www.vaalco.com
Al Petrie Advisors (US Investor Relations) +00 1 713 543 3422
Al Petrie / Chris Delange
Buchanan (UK Financial PR) +44 (0) 207 466 5000
Ben Romney / Chris Judd / James Husband VAALCO@buchanan.uk.com
Notification of dealings in shares by PDMR's of the Company:
1. | Details of PDMR / PDMR Associate | |
(a) | Name | George Maxwell |
(b) | Position / status | Chief Executive Officer |
(c) | Initial notification / amendment | Initial Notification |
2. | 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 | Restricted Shares and Options over Common Shares ("Options") |
(b) | Nature of the transaction | Award of Restricted Shares on the vesting of performance options and award of Options |
(c) | Price(s) and volume(s) | Award of Restricted Shares Price: $6.41 Volume: 43,799 Total: US Dollar $280,751.59
Award of Options Price: $6.41 Volume: 84,831 Total: US Dollar $543,766.71
|
(d) | Aggregated information Aggregated volume Price | Volume: 128,630128,630 Price: $6.41 |
(e) | Date of the transaction | March 11, 2022 |
(f) | Place of the transaction | USA |
1. | Details of PDMR / PDMR Associate | |
(a) | Name | Ronald Bain |
(b) | Position / status | Chief Financial Officer |
(c) | Initial notification / amendment | Initial Notification |
2. | 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 | Restricted Shares and Options |
(b) | Nature of the transaction | Award of Restricted Shares on the vesting of performance options and award of Options |
(c) | Price(s) and volume(s) | Award of Restricted Shares Price: $6.41 Volume: 20,558 Total: US Dollar $131,776.78
Award of Options Price: $6.41 Volume: 46,432 Total: US Dollar 297,629.12
|
(d) | Aggregated information Aggregated volume Price | Volume: 66,990 Price: $6.41
|
(e) | Date of the transaction | March 11, 2022 |
(f) | Place of the transaction | USA |
1. | Details of PDMR / PDMR Associate | |
(a) | Name | David DesAutels |
(b) | Position / status | Executive Vice President, Corporate Development |
(c) | Initial notification / amendment | Initial Notification |
2. | 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 | Restricted Shares and Options |
(b) | Nature of the transaction | Award of Restricted Shares on the vesting of performance options and award of Options |
(c) | Price(s) and volume(s) | Award of Restricted Shares Price: $6.41 Volume: 13,658 Total: US Dollar $87,547.78
Award of Options Price: $6.41 Volume: 30,849 Total: US Dollar $197,742.09
|
(d) | Aggregated information Aggregated volume Price
| Volume: 44,507 Price: $6.41 |
(e) | Date of the transaction | March 11, 2022 |
(f) | Place of the transaction | USA |
1. | Details of PDMR / PDMR Associate | |
(a) | Name | Michael Silver |
(b) | Position / status | Executive Vice President, General Counsel & Corporate Secretary |
(c) | Initial notification / amendment | Initial Notification |
2. | 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 | Restricted Shares and Options |
(b) | Nature of the transaction | Award of Restricted Shares on the vesting of performance options and award of Options |
(c) | Price(s) and volume(s) | Award of Restricted Shares Price: $6.41 Volume: 20,464 Total: US Dollar $131,174.24 Award of Options Price: $6.41 Volume: 46,221 Total: US Dollar $296,276.61 |
(d) | Aggregated information Aggregated volume Price
| Volume: 66,685 Price: $6.41
|
(e) | Date of the transaction | March 11, 2022 |
(f) | Place of the transaction | USA |
1. | Details of PDMR / PDMR Associate | |
(a) | Name | Jason Doornik |
(b) | Position / status | Chief Accounting Officer and Controller |
(c) | Initial notification / amendment | Initial Notification |
2. | 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 | Restricted Shares |
(b) | Nature of the transaction | Award of Restricted Shares on the vesting of performance options |
(c) | Aggregated information Aggregated volume Price | Price: $6.41 Volume: 13,198 Total: US Dollar $84,599.18
|
(d) | Date of the transaction | 11 March 2022 |
(e) | Place of the transaction | USA |
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