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20 Aug 2025 07:00
SOUTHERN ENERGY CORP. ANNOUNCES RESTRICTED SHARE AWARD GRANT
Calgary, Alberta - August 20, 2025 - Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC) announces that pursuant to the Company's Share Award Incentive Plan, an aggregate of 19,800,000 restricted share awards ("RSAs") were granted as part of Southern's overall compensation and employee retention program.
The RSAs vest as to one third on each of the first, second and third anniversaries of the grant date. On the vesting dates of such RSAs, the holder is entitled to receive a cash payment or its equivalent in fully paid common shares of the Company ("Common Shares"), at the Company's discretion, equal to the closing market value per Common Share on the TSXV on the business day prior to such payment.
In aggregate, 8,100,000 of the RSAs were issued to directors and persons discharging managerial responsibilities ("PDMR") of the Company, as set out below:
PDMR | Position | RSAs Awarded |
Ian Atkinson | President and CEO (Director) | 2,400,000 |
Calvin Yau | CFO | 2,100,000 |
Gary McMurren | COO | 2,100,000 |
Bruce Beynon | Non-Executive Director | 300,000 |
Tamara MacDonald | Non-Executive Director | 300,000 |
Joseph Nally | Non-Executive Director | 300,000 |
Neil Smith | Non-Executive Director | 300,000 |
Steven Smith | Non-Executive Director | 300,000 |
For further information about Southern, please visit our website at www.southernenergycorp.com or contact:
Southern Energy Corp. | |
Ian Atkinson (President and CEO) | +1 587 287 5401 |
Calvin Yau (CFO) | +1 587 287 5402 |
Strand Hanson Limited - Nominated & Financial Adviser | +44 (0) 20 7409 3494 |
James Bellman / Rob Patrick / Edward Foulkes | |
Tennyson Securities - Broker | +44 (0) 20 7186 9033 |
Peter Krens / Jason Woollard |
About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and production company characterized by a stable, low-decline production base, a significant low-risk drilling inventory and strategic access to premium commodity pricing in North America. Southern has a primary focus on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. Our management team has a long and successful history working together and have created significant shareholder value through accretive acquisitions, optimization of existing oil and natural gas fields and the utilization of re-development strategies utilizing horizontal drilling and multi-staged fracture completion techniques.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
PDMR NOTIFICATION FORMS
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||||||||||||||||||||
a) | Name | 1. Ian Atkinson 2. Calvin Yau 3. Gary McMurren 4. Bruce Beynon 5. Tamara MacDonald 6. Joseph Nally 7. Neil Smith 8. Steven Smith | |||||||||||||||||||||||||||
2 | Reason for the notification | ||||||||||||||||||||||||||||
a) | Position/status | 1. President and CEO (Director) 2. CFO 3. COO 4. Non-Executive Director 5. Non-Executive Director 6. Non-Executive Director 7. Non-Executive Director 8. 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 | Southern Energy Corp. | |||||||||||||||||||||||||||
b) | LEI | 213800R25GL7J3EBJ698 | |||||||||||||||||||||||||||
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 | Restricted Share Awards to receive common shares in Southern Energy Corp. or equivalent cash payment, at Company's sole discretion on vesting dates | |||||||||||||||||||||||||||
Identification code | CA8428133059 | ||||||||||||||||||||||||||||
b) | Nature of the transaction | Grant of restricted share awards | |||||||||||||||||||||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information | N/A (single transaction for each individual) | |||||||||||||||||||||||||||
e) | Date of the transaction | 20 August 2025 | |||||||||||||||||||||||||||
f) | Place of the transaction | Outside of a trading venue | |||||||||||||||||||||||||||
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