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13 Jan 2026 07:05
THIS ANNOUNCEMENT DOES NOT CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").
13 January 2026
Seascape Energy Asia plc
(the "Company", "Seascape Energy" or "Seascape")
Notification of Transaction by Person Discharging Managerial Responsibilities ("PDMR")
Long Term Incentive Plan Awards
As part of the annual bonus cycle for the performance year ending 31 December 2025, the Executive Directors have elected to receive a significant proportion of their annual bonus in the form of nil cost options to acquire ordinary shares of 10p each in the Company (the "LTIP Options") under the Company's Long Term Incentive Plan (the "LTIP"), to allow them to continue to build their equity stake in the Company and ensure alignment with shareholders.
In addition, Seascape announces the grant of an award under the Company's NED Plan (the "NED Plan") to Michael Buck, who has joined the Company's board of directors today as an Independent non-executive Director.
Following the vesting of the Awards and including existing shareholdings, the Directors will hold a total of 7.7% of the Company's issued share capital.
The LTIP
The LTIP, which is designed to provide incentivisation and retention for the Company's personnel, was approved by shareholders at the 2020 AGM and the principal terms are summarised in the Company's Re-admission document of 10 June 2021 (available on the Company's web site).
The Awards
The Company's Remuneration Committee, which is made up exclusively of Non-Executive Directors, has made awards under the LTIP to the following PDMRs (the "Awards") in the form of nil cost options to acquire ordinary shares of 10p each in the Company. The number of shares and percentage of the Company's current issued share capital ("ISC"), is set out below:
PDMR | Title |
| No. of Option shares | ISC% | |
Nick Ingrassia | CEO | 232,721 | 0.37 | ||
James Menzies | Executive Chairman | 164,991 | 0.26 | ||
Pierre Eliet | Executive Director | 166,578 | 0.26 | ||
Julian Riddick | Company Secretary | 51,982 | 0.08 | ||
The calculation of the Awards utilised an average market price of 64.7 pence per share and subject to the rules of the Plan the Options will vest in 12 months from the date of grant and be exercisable for a period of up to five years from grant.
The NED Plan Award
The NED Plan is designed to provide incentivisation and retention over a three-year period (the "Performance Period"), vesting from 13 January 2027 to 13 January 2029. Following awards made to the other non-executive Directors and in the interests of consistency, the Company's Board of Directors has made an award under the NED Plan to Michael Buck in the form of market priced options to acquire ordinary shares of 10p each in the Company (the "NED Options").
The Board of Directors has used its discretion, as provided for under the NED Plan rules, to make an exceptional award (100% - 200%) equivalent to 110% of the annual fee payable for acting as a non-executive Director. The award has been sized to ensure that no judgement or performance is compromised and the number of shares and percentage of the Company's enlarged issued share capital ("ISC"), assuming full exercise of all the NED Options, is set out below:
PDMR | Title |
| No. of Options | ISC% | |
Michael Buck | Independent Non-executive Director | 61,300 | 0.1 | ||
The NED Options have been set at price of 64.7 pence per share and subject to the rules of the Plan, the NED Options will vest in three equal annual tranches after grant and be exercisable for a period of up to five years from grant.
Notification of Deal Forms of each PDMR can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
|
1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
a) | Name | Michael Buck | ||||
2. | Reason for 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 | Seascape Energy Asia plc | ||||
b) | LEI | 213800D1D587TB36ST68 | ||||
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 and identification code | Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc ISIN: GB00BKFW2482 | ||||
b) | Nature of transaction | Grant of market priced options under the Seascape Energy Asia plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated Information | n/a | ||||
e) | Date of transaction | 13 January 2026 | ||||
f) | Place of transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
a) | Name | Nicholas Ingrassia | ||||
2. | Reason for notification | |||||
a) | Position/Status | CEO | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Seascape Energy Asia plc | ||||
b) | LEI | 213800D1D587TB36ST68 | ||||
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 and identification code | Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc ISIN: GB00BKFW2482 | ||||
b) | Nature of transaction | Grant of nil-cost option under the Seascape Energy Asia plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated Information | n/a | ||||
e) | Date of transaction | 13 January 2026 | ||||
f) | Place of transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
a) | Name | James Menzies | ||||
2. | Reason for notification | |||||
a) | Position/Status | Executive Chairman | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Seascape Energy Asia plc | ||||
b) | LEI | 213800D1D587TB36ST68 | ||||
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 and identification code | Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc ISIN: GB00BKFW2482 | ||||
b) | Nature of transaction | Grant of nil cost option under the Seascape Energy Asia plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated Information | n/a | ||||
e) | Date of transaction | 13 January 2026 | ||||
f) | Place of transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
a) | Name | Pierre Eliet | ||||
2. | Reason for notification | |||||
a) | Position/Status | Director, SE Asia | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Seascape Energy Asia plc | ||||
b) | LEI | 213800D1D587TB36ST68 | ||||
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 and identification code | Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc ISIN: GB00BKFW2482 | ||||
b) | Nature of transaction | Grant of nil cost option under the Seascape Energy Asia plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated Information | n/a | ||||
e) | Date of transaction | 13 January 2026 | ||||
f) | Place of transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/persons closely associated | |||||
a) | Name | Julian Riddick | ||||
2. | Reason for notification | |||||
a) | Position/Status | Company Secretary | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Seascape Energy Asia plc | ||||
b) | LEI | 213800D1D587TB36ST68 | ||||
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 and identification code | Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc ISIN: GB00BKFW2482 | ||||
b) | Nature of transaction | Grant of nil cost option under the Seascape Energy Asia plc Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated Information | n/a | ||||
e) | Date of transaction | 13 January 2026 | ||||
f) | Place of transaction | Outside a trading venue | ||||
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