20 Nov 2020 07:00
20 November 2020
PRESIDENT ENERGY PLC
("President Energy" or the "Company")
Grant of Share Options
President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, confirms that it has granted options over, in aggregate, 35,000,000 1p Ordinary Shares in the Company ("Ordinary Shares") to such of its USA and LatAm senior management and employees stated below, all being persons discharging managerial responsibilities (the "Options").
The new Options set out in the table below for senior management and employees are designed to promote long-term stability and retention among key management as well as providing performance incentive to reward loyalty and long service.
The Options vest in two equal tranches being 12 and 24 months from the date of grant subject always to the relevant persons still being in the employ of the group at the relevant stages and not under notice. Subject to vesting and such conditions being met, the new Options are exercisable for up to six months from the vesting date of each tranche and will lapse if not exercised by such date.
Name/Position | No of Options | Date of Grant | Vesting Period | Exercise Price per share | Latest time to exercise |
Jordan Coleman | 5,000,000 | 19/11/2020 | 12 Months | 1 Pence | Six months after vesting period |
COO LatAm | 5,000,000 | 19/11/2020 | 24 Months | 1 Pence | |
Martin Gee | 1,500,000 | 19/11/2020 | 12 Months | 1 Pence | Six months after vesting period |
Head of Sub-Surface | 2,500,000 | 19/11/2020 | 24 Months | 1 Pence | |
Claudia Perez | 1,500,000 | 19/11/2020 | 12 Months | 1 Pence | Six months after vesting period |
CFO Argentina | 2,500,000 | 19/11/2020 | 24 Months | 1 Pence | |
Lucia D'Agostino | 1,500,000 | 19/11/2020 | 12 Months | 1 Pence | Six months after vesting period |
Legal & Administration Director | 2,500,000 | 19/11/2020 | 24 Months | 1 Pence | |
Diego De La Vega | 1,500,000 | 19/11/2020 | 12 Months | 1 Pence | Six months after vesting period |
Supply Chain Director | 2,500,000 | 19/11/2020 | 24 Months | 1 Pence | |
Ulises Macagno | 1,500,000 | 19/11/2020 | 12 Months | 1 Pence | Six months after vesting period |
Commercial Director | 2,500,000 | 19/11/2020 | 24 Months | 1 Pence | |
Scott Daspit | 2,500,000 | 19/11/2020 | 12 Months | 1 Pence | Six months after vesting period |
Head of Operations USA | 2,500,000 | 19/11/2020 | 24 Months | 1 Pence | |
35,000,000 |
Excluding the new Options, the Company has existing outstanding awards including adjustments for lapsed or cancelled option awards of 23,866,664 representing 1.18% of the Issued Share Capital which in the view of the Directors are very unlikely to be exercised. With the addition of the grant of the new Options contained within this announcement, the total amount of share options granted to management to acquire ordinary shares is in aggregate 58,866,664 representing 2.92% of the Company's current issued share capital.
Contact:
President Energy PLC Rob Shepherd, Group FD Nikita Levine, Investor Relations
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+44 (0) 207 016 7950 info@presidentpc.com
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finnCap (Nominated Advisor) Christopher Raggett, Charlie Beeson |
+44 (0) 207 220 0500 |
Shore Capital (Corporate Broker) Jerry Keen, Antonio Bossi
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+44 (0) 207 408 4090 |
Notes to Editors
President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets.
The Company has operated interests in the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions, and Angostura exploration contract, all of which are situated in the Rio Negro Province in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.
The Group is also actively pursuing value accretive acquisitions of high-quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support, including the IFC, part of the World Bank Group as well as the international commodity trader and logistics company Trafigura, an in-country management team as well as a Board whose interests are aligned to those of its shareholders, President Energy gives UK investors access to the Argentina energy growth story combined with world class standards of corporate governance, environmental and social responsibility.
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Jordan Coleman | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Chief Operating Officer Latin America | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | President Energy plc | ||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||
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: Identification code: | Ordinary Shares of 1p each ISIN: GB00B3DDP128
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b) | Nature of the transaction: | Grant of Share Options | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 19 November 2020 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
5. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Scott Daspit | ||||
6. | Reason for the notification | |||||
a) | Position/status: | Head of Operations USA | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
7. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | President Energy plc | ||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||
8. | 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: Identification code: | Ordinary Shares of 1p each ISIN: GB00B3DDP128
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b) | Nature of the transaction: | Grant of Share Options | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 19 November 2020 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Martin Gee | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Head of Sub-Surface | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | President Energy plc | ||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||
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: Identification code: | Ordinary Shares of 1p each ISIN: GB00B3DDP128
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b) | Nature of the transaction: | Grant of Share Options | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 19 November 2020 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Claudia Perez | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Chief Financial Officer Argentina | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | President Energy plc | ||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||
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: Identification code: | Ordinary Shares of 1p each ISIN: GB00B3DDP128
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b) | Nature of the transaction: | Grant of Share Options | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 19 November 2020 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Lucia D'Agostino | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Legal & Administration Director | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | President Energy plc | ||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||
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: Identification code: | Ordinary Shares of 1p each ISIN: GB00B3DDP128
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b) | Nature of the transaction: | Grant of Share Options | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 19 November 2020 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Diego De La Vega | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Supply Chain Director | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | President Energy plc | ||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||
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: Identification code: | Ordinary Shares of 1p each ISIN: GB00B3DDP128
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b) | Nature of the transaction: | Grant of Share Options | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 19 November 2020 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Ulises Macagno | ||||
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: | President Energy plc | ||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||
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: Identification code: | Ordinary Shares of 1p each ISIN: GB00B3DDP128
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b) | Nature of the transaction: | Grant of Share Options | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 19 November 2020 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||