Last checked at 2 Nov 2018 07:00
2 November 2018
Pennpetro Energy Plc
("Pennpetro" or the "Company")
Grant of Options
The Company announces that, as outlined and in line with the prospectus published on 15th December 2017, on 2nd November 2018 it granted options under the Pennpetro Energy Plc Option Share Plan with an exercise price of £0.35p per share over, in aggregate, 1,700,000 ordinary shares of £0.01 each in the Company ("Ordinary Shares") (the "Options") to Directors Keith Edelman, Phillip Nash, Tom Evans and Olof Rapp, who will each receive 425,000 Options.
As a result of these Options being granted, the interests of the Directors in options over Ordinary Shares is as follows:
Director
| Options granted | Total Options |
Keith Edelman (Non-executive director and Chairman)
| 425,000 | 425,000 |
Olof Rapp (Senior non-executive director)
| 425,000 | 425,000 |
Tom Evans (Executive director)
| 425,000 | 425,000 |
Phillip Nash (Non-executive director and Chief Financial Officer)
| 425,000 | 425,000 |
The Options shall vest and become exercisable on the 2nd November 2021, being three years from the date of grant of the Options.
The Options are equivalent to 2.4 per cent. of the Company's current issued share capital. The total number of Ordinary Shares currently in issue is 70,900,000.
The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Keith Graham Edelman | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-executive director and Chairman | ||||
b) | Initial notification / Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | PennPetro Energy Plc | ||||
b) | LEI | 213800BNN7UN97NVP509 | ||||
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 |
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Identification code | ISIN: GB00BF2K5076 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
e) | Date of the transaction | 2 November 2018 | ||||
f) | Place of the transaction | Off market transaction | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Olof Rapp | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Senior non-executive director | ||||
b) | Initial notification / Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | PennPetro Energy Plc | ||||
b) | LEI | 213800BNN7UN97NVP509 | ||||
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 | ISIN: GB00BF2K5076 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
e) | Date of the transaction | 2 November 2018 | ||||
f) | Place of the transaction | Off market transaction | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Tom Evans | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Executive director | ||||
b) | Initial notification / Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | PennPetro Energy Plc | ||||
b) | LEI | 213800BNN7UN97NVP509 | ||||
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 | ISIN: GB00BF2K5076 | |||||
b) | Nature of the transaction |
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c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
e) | Date of the transaction | 2 November 2018 | ||||
f) | Place of the transaction | Off market transaction | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Phillip Nash | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-executive director and Chief Financial Officer | ||||
b) | Initial notification / Amendment |
| ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | PennPetro Energy Plc | ||||
b) | LEI | 213800BNN7UN97NVP509 | ||||
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 | ISIN: GB00BF2K5076 | |||||
b) | Nature of the transaction |
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | N/A | ||||
e) | Date of the transaction | 2 November 2018 | ||||
f) | Place of the transaction | Off market transaction | ||||
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Enquiries
Pennpetro Energy Plc
88 Whitfield Street
First Floor
London
W1T 4EZ
tme@pennpetroenergy.co.uk
Instinctif | ||
David Simonson | david.simonson@instinctif.com | +44 (0)20 7457 2020 |
George Yeomans | george.yeomans@instinctif.com | +44 (0)20 7457 2020 |
NOTES TO EDITORS
Pennpetro Energy is an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA. Shares in the company were admitted to the Official List of the London Stock Exchange by way of a Standard Listing on 21 December 2017.
Further information on the Company can be found at www.pennpetroenergy.co.uk