Last checked at 13 Jun 2017 09:24
Europa Oil & Gas (Holdings) Plc - Grant of optionsEuropa Oil & Gas (Holdings) Plc - Grant of options
PR Newswire
London, June 13
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
13 June 2017
Europa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)
Grant of options
Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration, development and production company focused on Europe, announces that it has today awarded a total of 6,500,000 options (“Options”) over ordinary shares of 1p each in the Company (“Ordinary Shares”) to Directors and staff. The Options, representing 2.2% of the current issued share capital, have been granted in recognition of the continuing 20% salary cuts taken by the Board and office based staff while oil prices have been depressed. Prior to this award the Company had 15,365,000 options outstanding, therefore there are now a total of 21,865,000 options outstanding, representing approximately 7.3% of the Company’s current issued share capital.
| Options Awarded | Percentage of current issued share capital | |
| Hugh Mackay | 3,500,000 | 1.2% |
| Phil Greenhalgh | 1,500,000 | 0.5% |
| Roderick Corrie | 300,000 | 0.1% |
| Other staff | 1,200,000 | 0.4% |
| Total | 6,500,000 | 2.2% |
All of the Options have an exercise price of 8 pence per Ordinary Shares (a 33% premium to the price at which Ordinary Shares were issued in the Placing and Open Offer announced on 24 May 2017) and expire on 12 June 2027. The Options only vest if the closing mid-market price of an Ordinary Share is above 10 pence per Ordinary Share for 30 calendar days.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||
| a) | Name | Roderick James Hugh McLeod Corrie | ||||
| Reason for the Notification | ||||||
| a) | Position/status | Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||
| b) | LEI | 213800JWTCW7TN3WRC06 | ||||
| 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 1p | ||||
| Identification code | GB00B03CJS30 | |||||
| b) | Nature of the transaction | Issue of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: | Issue of options over 300,000 Ordinary Shares, exercisable at 8 pence per Ordinary Share | ||||
| e) | Date of the transaction | 13 June 2017 | ||||
| f) | Place of the transaction | Off market transaction | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||
| a) | Name | Hugh George Dunbar Mackay | ||||
| Reason for the Notification | ||||||
| a) | Position/status | Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||
| b) | LEI | 213800JWTCW7TN3WRC06 | ||||
| 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 1p | ||||
| Identification code | GB00B03CJS30 | |||||
| b) | Nature of the transaction | Issue of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: | Issue of options over 3,500,000 Ordinary Shares, exercisable at 8 pence per Ordinary Share | ||||
| e) | Date of the transaction | 13 June 2017 | ||||
| f) | Place of the transaction | Off market transaction | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| Details of the person discharging managerial responsibilities / person closely associated | ||||||
| a) | Name | Philip Greenhalgh | ||||
| Reason for the Notification | ||||||
| a) | Position/status | Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
| a) | Name | Europa Oil & Gas (Holdings) plc | ||||
| b) | LEI | 213800JWTCW7TN3WRC06 | ||||
| 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 1p | ||||
| Identification code | GB00B03CJS30 | |||||
| b) | Nature of the transaction | Issue of Options | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: | Issue of options over 1,500,000 Ordinary Shares, exercisable at 8 pence per Ordinary Share | ||||
| e) | Date of the transaction | 13 July 2016 | ||||
| f) | Place of the transaction | Off market transaction | ||||
* * ENDS * *
For further information please visit http://www.europaoil.com/ or contact:
| Hugh Mackay | Europa | + 44 (0) 20 7224 3770 |
| Phil Greenhalgh | Europa | + 44 (0) 20 7224 3770 |
| Matt Goode | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Simon Hicks | finnCap Ltd | + 44 (0) 20 7220 0500 |
| Frank Buhagiar | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
| Susie Geliher | St Brides Partners Ltd | + 44 (0) 20 7236 1177 |
Notes
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets that includes production, exploration and development interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. Its highly prospective exploration projects include the Wressle oil development in the UK and seven licences offshore Ireland with the potential to host gross mean un-risked prospective resources of more than 4 billion barrels oil equivalent and 1.5 TCF gas across all seven licences. In H1 2017 Europa produced 115 boepd from its portfolio of onshore UK licences.