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19 Jun 2026 07:00
Prospex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas
19 June 2026
Prospex Energy plc
("Prospex" or the "Company")
Share Option Award
Prospex Energy plc (AIM: PXEN), the AIM quoted investment company focused on European gas and power projects, announces that it has today granted a total of 14,350,000 share options in the Company to directors and other staff (the "Options") following a review of staff remuneration.
The Options awarded were intended to be awarded by the Board of Directors in Q1 2026 but due to the Company being in a close period were not able to be formally awarded until after the annual report was published.
The Options represent 3.31% of the current issued share capital of the Company. Following this award the total number of options in issue to current staff, directors and management is 29,816,667, which represents 6.9% of the total issued share capital. This total excludes 15,000,000 options awarded to CEO Tom Reynolds on his appointment, details of which were announced on 6 January 2026.
The last award of options (other than to Tom Reynolds) was in October 2024. The objective of this award is to align directors and staff with the target of delivering a liquidity event for shareholders.
The Options have been awarded with a strike price of 0.1p, being the nominal price of ordinary shares. The Options vest in three months' time on 20 September 2026 and are exercisable for a period of five years subject to the following conditions:
1. a liquidity event for the Company accepted or approved by the shareholders; or
2. failing which, after 31 December 2027 the VWAP is consistently above 7.5p per share for a period of 90 calendar days
The Options to be issued are set out below:
William Smith | 1,000,000 |
Simon Ashby-Rudd | 1,000,000 |
Andrew Hay | 1,000,000 |
Alasdair Buchanan | 1,000,000 |
PDMR staff | 2,500,000 |
Other non-PDMR staff | 7,850,000 |
Total | 14,350,000 |
Options currently held by directors prior to the award of the Options:
Director | No. Options | Strike Price | Expiry |
William Smith | 900,000 | 5.00p | 17/03/2027 |
900,000 | 8.15p | 23/09/2027 | |
370,000 | 12.25p | 27/02/2028 | |
300,000 | 7.00p | 25/07/2028 | |
400,000 | 6.40p | 02/10/2029 | |
Total | 2,870,000 | ||
Alasdair Buchanan | 900,000 | 5.00p | 17/03/2027 |
900,000 | 8.15p | 23/09/2027 | |
370,000 | 12.25p | 27/02/2028 | |
300,000 | 7.00p | 25/07/2028 | |
400,000 | 6.40p | 02/10/2029 | |
Total | 2,870,000 | ||
Andrew Hay | 900,000 | 7.00p | 25/07/2028 |
400,000 | 6.40p | 02/10/2029 | |
Total | 1,300,000 | ||
Simon Ashby-Rudd | - | - | - |
Total | - | ||
Tom Reynolds | 15,000,000 | 0.1p | 01/01/2031 |
Total | 15,000,000 |
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|
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Total Options | 22,040,000 |
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Directors' total options after this award:
Director | Number | % of current share capital |
William Smith | 3,870,000 | 0.9% |
Simon Ashby-Rudd | 1,000,000 | 0.2% |
Alasdair Buchanan | 3,870,000 | 0.9% |
Andrew Hay | 2,300,000 | 0.5% |
Tom Reynolds | 15,000,000 | 3.5% |
Total Directors | 26,040,000 | 6.0% |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
* * ENDS * *
For further information visit www.prospex.energy or contact the following:
Tom Reynolds | Prospex Energy PLC | Tel: +44 (0) 20 7236 1177 |
Ritchie BalmerRory Murphy | Strand Hanson Limited | Tel: +44 (0) 20 7409 3494 |
Andrew Monk (Corporate Broking)Andrew Raca (Corporate Finance) | VSA Capital Limited | Tel: +44 (0) 20 3005 5000 |
Neil Passmore Leif Powis | Hannam & Partners | Tel: +44 (0) 20 7907 8500 |
Ana Ribeiro / Charlotte Page | St Brides Partners Limited | Tel: +44 (0) 20 7236 1177 |
PDMR Disclosures
The notifications below are made in accordance with the requirements of the UK Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | William Smith |
2 | Reason for the notification | |
a) | Position/status | Chairman |
b)
| Initial notification /Amendment | Initial notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Prospex Energy Plc |
b) | LEI | 213800NY9RH8O1B72D27 |
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 | Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
|
Identification code | GB00BMFZVZ53 | |
b) | Nature of the transaction | Grant of options |
c) | Price(s) and volume(s) | Exercise price: 0.1p Volume: 1,000,000 |
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 18 June 2026 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Simon Ashby-Rudd |
2 | Reason for the notification | |
a) | Position/status | Non-Executive Director |
b)
| Initial notification /Amendment | Initial notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Prospex Energy Plc |
b) | LEI | 213800NY9RH8O1B72D27 |
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 | Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
|
Identification code | GB00BMFZVZ53 | |
b) | Nature of the transaction | Grant of options |
c) | Price(s) and volume(s) | Exercise price: 0.1p Volume: 1,000,000 |
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 18 June 2026 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Andrew Hay |
2 | Reason for the notification | |
a) | Position/status | Independent Non-Executive Director |
b)
| Initial notification /Amendment | Initial notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Prospex Energy Plc |
b) | LEI | 213800NY9RH8O1B72D27 |
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 | Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
|
Identification code | GB00BMFZVZ53 | |
b) | Nature of the transaction | Grant of options |
c) | Price(s) and volume(s) | Exercise price: 0.1p Volume: 1,000,000 |
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 18 June 2026 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Alasdair Buchanan |
2 | Reason for the notification | |
a) | Position/status | Independent Non-Executive Director |
b)
| Initial notification /Amendment | Initial notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Prospex Energy Plc |
b) | LEI | 213800NY9RH8O1B72D27 |
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 | Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
|
Identification code | GB00BMFZVZ53 | |
b) | Nature of the transaction | Grant of options |
c) | Price(s) and volume(s) | Exercise price: 0.1p Volume: 1,000,000 |
d) | Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 18 June 2026 |
f) | Place of the transaction | Outside of a trading venue |
Notes
Prospex Energy plc is an AIM-quoted investing company focused on high-impact onshore and shallow offshore European opportunities with short timelines to production. The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then apply low-cost re-evaluation techniques to identify and de-risk prospects. The Company will rapidly scale up gas production in the short term to generate internal revenue, which can then be deployed to develop the asset base and further increase production.
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