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Pin to quick picksSDX Energy Regulatory News (SDX)

Share Price Information for SDX Energy (SDX)

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Issue of Equity

28 Sep 2020 07:00

RNS Number : 2214A
SDX Energy PLC
28 September 2020
 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY SDX TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

 

 

28 September 2020

SDX ENERGY PLC 

("SDX" or the "Company")

Issue of Equity

SDX Energy Plc (AIM: SDX), the MENA-focused oil and gas company, announces that it has agreed to issue a total of 655,028 Ordinary Shares of £0.01 to its Executive Directors and certain other employees as part of the bonus awarded for 2019 performance. The total bonus amount to be paid was determined as 30% of the possible target opportunity to reflect performance outcomes in 2019 against KPIs. It was additionally decided by the Board to defer the total bonus payment from March to September 2020 and to pay a portion in shares in lieu of cash.

The issue of the Ordinary Shares has been approved by the Board of Directors to further align the Executive Directors and other employees with the Company's shareholder base, as well as satisfying the Company's objective of preserving its cash balance in the current economic environment. These shares will be issued, conditional upon Admission, at a price of £0.1647 per share, representing the 60-day volume weighted average price of a share on 25 September 2020.

A total of 308,925 shares have been issued to the Executive Directors, as detailed below:

Name

Ordinary Shares Issued

Total Interest in Ordinary Shares

Mark Reid

231,694

692,897

Nick Box

77,231

97,261

Subject to customary exemptions, these shares will be subject to hold periods of up to three years, with a third being released annually.

Total Voting Rights

SDX has applied to the London Stock Exchange for 655,028 new Ordinary Shares (the "New Ordinary Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on 1 October 2020. The New Ordinary Shares will rank pari passu in all respects with the existing issued Ordinary Shares. Following Admission, the Company's issued share capital will be 205,378,069 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of voting rights in the Company will be 205,378,069. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

About SDX

SDX is an international oil and gas exploration, production and development company, headquartered in London, United Kingdom, with a principal focus on MENA. In Egypt, SDX has a working interest in three producing assets: a 55% operated interest in the South Disouq gas field in the Nile Delta, a 50% non-operated interest in the West Gharib concession, which is located onshore in the Eastern Desert, adjacent to the Gulf of Suez, and a 12.75% non-operated interest in the South Ramadan concession offshore Gulf of Suez. In Morocco, SDX has a 75% working interest in five development/production concessions, all situated in the Gharb Basin. The producing assets in Morocco are characterised by attractive gas prices and exceptionally low operating costs. SDX has a strong weighting of fixed price gas assets in its portfolio with low operating costs and attractive margins throughout, providing resilience in a low commodity price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.

 

For further information, please see the Company's website at www.sdxenergy.com or the Company's filed documents at www.sedar.com.

 

For further information:

 

SDX Energy Plc

Mark Reid

Chief Executive Officer

Tel: +44 203 219 5640

Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)

Callum Stewart

Simon Mensley

Ashton Clanfield

Tel: +44 (0) 207 710 7600

 

Peel Hunt LLP (Joint Broker)

Richard Crichton

David McKeown

Tel: +44 (0) 207 418 8900

 

Camarco (PR)

Billy Clegg

Owen Roberts

Violet Wilson

Tel: +44 (0) 203 757 4980

 

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

Mark Reid

2

Reason for the notification

a)

Position/status

CEO

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer

a)

Name

SDX Energy PLC

b)

LEI

213800ALYZJ5JN26DY75

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 GBP £0.01

GB00BJ5JNL69

b)

Nature of the transaction

Issue of Ordinary shares in lieu of cash bonus

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16.47 pence

231,694

 

d)

Aggregated information

- Aggregated volume - Price

Price(s)

Volume(s)

16.47 pence

231,694

e)

Date of the transaction

28 September 2020

f)

Place of the transaction

XOFF

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nicholas Box

2

Reason for the notification

a)

Position/status

CFO

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer

a)

Name

SDX Energy PLC

b)

LEI

213800ALYZJ5JN26DY75

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 GBP £0.01

GB00BJ5JNL69

b)

Nature of the transaction

Issue of Ordinary shares in lieu of cash bonus

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16.47 pence

77,231

 

d)

Aggregated information

- Aggregated volume - Price

Price(s)

Volume(s)

16.47 pence

77,231

e)

Date of the transaction

28 September 2020

f)

Place of the transaction

XOFF

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOEEAFNXASKEEAA
Date   Source Headline
10th Jan 202412:50 pmRNSHolding(s) in Company
9th Jan 20247:00 amRNSCorporate Update
15th Dec 20234:13 pmRNSTR-1
1st Dec 20237:00 amRNSForm 8.3 - SDX ENERGY PLC
1st Dec 20237:00 amRNSForm 8.3 - SDX ENERGY PLC
27th Nov 20237:00 amRNSCorporate Strategy Update
22nd Nov 20237:00 amRNSDirectorate Change
31st Oct 20237:00 amRNSDrilling/Production Report
5th Oct 20237:00 amRNSContract
29th Sep 20237:00 amRNSINTERIM RESULTS
28th Sep 20237:00 amRNSKSIRI-21 WELL UPDATE
13th Sep 20237:00 amRNSGAS PREPAYMENT AGREEMENT
11th Sep 20237:00 amRNSResponse to Earthquake in Morocco
4th Sep 202310:00 amRNSHolding(s) in Company
4th Sep 20237:00 amRNSSPUD OF KSIRI-21 WELL IN MOROCCO
30th Aug 202310:23 amRNSHEADS OF TERMS SIGNED FOR DISPOSAL OF EGYPT ASSETS
27th Jul 20237:15 amRNSConvertible Loan Agreement
10th Jul 20237:00 amRNSTermination of Senior Employee
20th Jun 202312:19 pmRNSResult of AGM
12th Jun 20234:41 pmRNSHolding(s) in Company
12th Jun 20237:00 amRNSPOTENTIAL SALE OF EGYPTIAN ASSETS
5th Jun 20237:00 amRNSRenegotiation of Gas Sales Agreement in Morocco
2nd Jun 20235:30 pmRNSHolding(s) in Company
2nd Jun 20235:23 pmRNSHolding(s) in Company
25th May 20234:24 pmRNSNotice of AGM and Annual Report and Accounts
24th May 20237:00 amRNSManagement Appointments and Suspension of Employee
9th May 20237:00 amRNSAPPOINTMENT OF CHIEF FINANCIAL OFFICER
2nd May 20237:00 amRNSAlternative Energy Projects
28th Apr 20237:00 amRNSFULL YEAR 2022 FINANCIAL AND OPERATING RESULTS
7th Mar 20237:00 amRNSSOUTH DISOUQ DISPOSAL TRANSACTION RECONSTITUTION
1st Mar 20237:00 amRNSOPERATIONAL AND CORPORATE UPDATE
5th Jan 20237:00 amRNSHoldings in Company
23rd Dec 20227:00 amRNSNominated Adviser & Corporate Broker Appointment
1st Dec 20227:00 amRNSDirectorate Changes
17th Nov 20227:00 amRNSRESULTS FOR THE 3 AND 9 MONTHS TO 30 SEPT 2022
14th Nov 20227:00 amRNSResults of SAK-1 and KSR-20 wells in Morocco
31st Oct 20227:00 amRNSDirectorate Change
27th Sep 20227:01 amRNSAppointment of Chief Operating Officer
27th Sep 20227:00 amRNSBoard Change
21st Sep 20227:00 amRNSBoard Changes
13th Sep 20229:06 amRNSRELATED PARTY TRANSACTION
18th Aug 20227:00 amRNSRESULTS FOR THE 3 AND 6 MONTHS ENDED 30 JUNE 2022
11th Aug 20227:00 amRNSSPUD OF SAK-1 WELL, LALLA MIMOUNA SUD, MOROCCO
10th Aug 20225:00 pmRNSReplacement: Results of Court Meeting and GM
9th Aug 20229:34 amRNSTR-1: Notification of major holdings
2nd Aug 202210:51 amRNSDirector/PDMR Shareholding
2nd Aug 20227:00 amRNSSPUD OF MSD-27 WELL, WEST GHARIB CONCESSION EGYPT
1st Aug 20227:01 amRNS30 JUNE 2022 TRADING AND OPERATIONS UPDATE
1st Aug 20227:00 amRNSNEW MAJOR SHAREHOLDER GROUP
1st Aug 20227:00 amRNSForm 8.3 - SDX ENERGY PLC

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