Last checked at 7 Oct 2021 18:20
SOUTHERN ENERGY CORP. ANNOUNCES STOCK OPTION GRANT
Calgary, Alberta - October 7, 2021 - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV) (AIM:SOUC), a U.S.-focused, growth-oriented oil and natural gas producer, announces, further to the Company's announcement released earlier today, additional details in respect of the, in aggregate, 11,425,000 options to purchase common shares of the Company to directors, officers and employees of Southern as part of our overall compensation and employee retention program (the "Options").
In aggregate, 8,865,000 of the Options were issued to directors and PDMRs of the Company, as set out below:
DPDMR | Position | Options Awarded |
Ian Atkinson | President and CEO (Director) | 1,500,000 |
Calvin Yau | VP Finance & CFO | 1,080,000 |
Erin Buschert | VP Land | 1,080,000 |
Jim McFadyen | VP Operations | 1,080,000 |
Gary McMurren | VP Engineering | 1,080,000 |
Bruce Beynon | Director | 435,000 |
Michael Kohut | Director | 435,000 |
Tamara MacDonald | Director | 435,000 |
Andrew McCreath | Director | 435,000 |
Joseph Nally | Director | 435,000 |
Neil Smith | Director | 435,000 |
Steven Smith | Director | 435,000 |
The Options expire five years from the date of grant, are exercisable at a price of CAD0.07 per common share, and vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date.
For further information, please contact:
Southern Energy Corp. Ian Atkinson (President and CEO) Calvin Yau (VP Finance and CFO) |
+1 (0) 587 287 5401 +1 (0) 587 287 5402
|
Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman
Hannam & Partners - Joint Broker Sam Merlin / Ernest Bell
Canaccord Genuity - Joint Broker Henry Fitzgerald-O'Connor / James Asensio | +44 (0) 20 7409 3494
+44 (0) 20 7907 8500
+44 (0) 20 7523 8000
|
Camarco James Crothers, Billy Clegg, Daniel Sherwen |
+44 (0) 20 3757 4980
|
About Southern Energy Corp.
Southern Energy Corp. is an oil and natural gas exploration and production company. 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 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 | Ian Atkinson |
2 | Reason for the notification | |
a) | Position/status | President and Chief Executive Officer (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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 1,500,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Calvin Yau |
2 | Reason for the notification | |
a) | Position/status | VP Finance and CFO |
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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 1,080,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Erin Buschert |
2 | Reason for the notification | |
a) | Position/status | VP Land |
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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 1,080,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Jim McFadyen |
2 | Reason for the notification | |
a) | Position/status | VP Operations |
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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 1,080,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Gary McMurren |
2 | Reason for the notification | |
a) | Position/status | VP Engineering |
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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 1,080,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Bruce Beynon |
2 | Reason for the notification | |
a) | Position/status | 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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 435,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Michael Kohut |
2 | Reason for the notification | |
a) | Position/status | 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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 435,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Tamara MacDonald |
2 | Reason for the notification | |
a) | Position/status | 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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 435,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Andrew McCreath |
2 | Reason for the notification | |
a) | Position/status | 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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 435,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Joseph Nally |
2 | Reason for the notification | |
a) | Position/status | 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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 435,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Neil Smith |
2 | Reason for the notification | |
a) | Position/status | 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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 435,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Steven Smith |
2 | Reason for the notification | |
a) | Position/status | 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 | Options to acquire common shares in Southern Energy Corp. |
Identification code | CA8428131079 | |
b) | Nature of the transaction | Grant of share options |
c) | Price(s) and volume(s) | 435,000 options with an exercise price of CAD0.07 |
d) | Aggregated information | N/A |
e) | Date of the transaction | 7 October 2021 |
f) | Place of the transaction | Outside of a trading venue |