25 Sep 2018 07:00
25 September 2018
Phoenix Global Resources plc
("Phoenix" or the "Company")
Long-term Incentive Awards
The Board of Phoenix (AIM:PGR; BCBA:PGR) announces that it has made a grant of share awards to certain directors and persons discharging managerial responsibilities.
The awards are being made as one-off awards outside the Company's long-term incentive plan ("LTIP") but on terms identical to the LTIP. They are being granted on this basis to address a timing conflict that has arisen as a result of the delay in the grant of the first awards under the LTIP that arose due to the Company being in a close period at the time they were due to be awarded.
The awards have been granted as nil-cost conditional awards, over a total of 7,903,432 ordinary shares representing approximately 0.29% of the Company's issued share capital, and are subject to performance conditions based on the Company's performance and (subject to the same rules as the LTIP) a vesting period of three years followed by an additional post-vesting holding period of a further two years. The awards are also subject to claw-back and malus provisions.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Anuj Sharma | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer, Phoenix Global Resources plc | ||||
b) | Initial notification/Amendment | This is an initial notification. | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Phoenix Global Resources plc | ||||
b) | LEI | 213800KGHZ6DKGJNNT92 | ||||
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 | Award over Ordinary Shares of 10p each | ||||
Identification code | Award over Ordinary Shares with identification code GB00B7LHJ340 | |||||
b) | Nature of the transaction | Grant of an award over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information |
| ||||
e) | Date of the transaction | 24 September 2018 | ||||
f) | Place of the transaction | Outside a Trading Venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Philip Wolfe | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer, Phoenix Global Resources plc | ||||
b) | Initial notification/Amendment | This is an initial notification. | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Phoenix Global Resources plc | ||||
b) | LEI | 213800KGHZ6DKGJNNT92 | ||||
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 | Award over Ordinary Shares of 10p each | ||||
Identification code | Award over Ordinary Shares with identification code GB00B7LHJ340 | |||||
b) | Nature of the transaction | Grant of an award over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information |
| ||||
e) | Date of the transaction | 24 September 2018 | ||||
f) | Place of the transaction | Outside a Trading Venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Javier Vallesi | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Operating Officer, Phoenix Global Resources plc | ||||
b) | Initial notification/Amendment | This is an initial notification. | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Phoenix Global Resources plc | ||||
b) | LEI | 213800KGHZ6DKGJNNT92 | ||||
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 | Award over Ordinary Shares of 10p each | ||||
Identification code | Award over Ordinary Shares with identification code GB00B7LHJ340 | |||||
b) | Nature of the transaction | Grant of an award over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information |
| ||||
e) | Date of the transaction | 24 September 2018 | ||||
f) | Place of the transaction | Outside a Trading Venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Kevin Dennehy | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer, Phoenix Global Resources Operating LLC | ||||
b) | Initial notification/Amendment | This is an initial notification. | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Phoenix Global Resources plc | ||||
b) | LEI | 213800KGHZ6DKGJNNT92 | ||||
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 | Award over Ordinary Shares of 10p each | ||||
Identification code | Award over Ordinary Shares with identification code GB00B7LHJ340 | |||||
b) | Nature of the transaction | Grant of an award over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information |
| ||||
e) | Date of the transaction | 24 September 2018 | ||||
f) | Place of the transaction | Outside a Trading Venue | ||||
Ends
Enquiries:
Phoenix Global Resources plc | Anuj Sharma, CEO Philip Wolfe, CFO | T: +54 11 5258 7500 T: +44 20 3912 2805 |
Stockdale Securities |
Antonio Bossi Ed Thomas |
T: +44 20 7601 6100 |
Panmure Gordon |
Adam James Charles Lesser |
T: +44 20 7886 2500 |
Camarco |
Billy Clegg Owen Roberts James Crothers |
T: +44 20 3757 4980 |
About Phoenix:
Phoenix Global Resources is a London Stock Exchange (AIM: PGR) and Buenos Aires Stock Exchange (BCBA: PGR) listed independent Argentina focused oil and gas exploration and production company. The company has over 6.3 million licenced working interest acres in Argentina (of which over 5 million are operated), 57.2 million boe of working interest 2P reserves and average production of approximately 11,070 working interest boepd in 2017. Phoenix has significant exposure to the unconventional opportunity in Argentina through its more than 560,000 working interest acres with Vaca Muerta potential.
The Company's website is www.phoenixglobalresources.com