Hurricane Energy PLC Award of Shares under the Share Incentive Plan (1507U)

TIDMHUR

RNS Number : 1507U

Hurricane Energy PLC

13 January 2017

13 January 2017

Hurricane Energy plc

Award of Shares under the Share Incentive Plan

Hurricane Energy plc (AIM: HUR.L, "Hurricane" or the "Company"), announces that it received notification on 13 January 2017 that, following payroll contributions made on 13 January 2017, MM & K Plan Trustees Limited ("SIP Trustee"), trustee of the Hurricane Energy plc Share Incentive Plan ("SIP"), awarded 227,726 ordinary shares of GBP0.001 each in the Company ("Ordinary Shares") to participants in the SIP at a price of 49 pence per share, being the closing mid-market price on 12 January 2017.

The SIP award has been partly satisfied by the issue of 127,726 new Ordinary Shares to the SIP Trustee at a subscription price of GBP0.001 per share, being the nominal value of the shares.

Each participating employee will receive an allocation of Partnership Shares (being shares acquired at market value using contributions deducted from employees' pre-tax salaries; "Partnership Shares"), Matching Shares (being ordinary shares of twice the number of Partnership Shares acquired by an employee which are paid for by the Company; "Matching Shares") and Free Shares (being ordinary shares to a value not exceeding GBP3,600 in the current tax year, which are paid for by the Company; "Free Shares").

Under the SIP, the following directors of the Company purchased or were awarded the following number of Ordinary Shares:

 
 Name               Number of      Number of          Number of 
                     Partnership    Matching Shares    Free Shares 
                     Shares 
 Dr Robert Trice    3,673          7,346              7,346 
 Alistair Stobie    3,673          7,346              7,346 
 Neil Platt         3,673          7,346              7,346 
 

The aggregate of their beneficial holdings are now as follows:

 
 Name               Number of Ordinary   % 
                     Shares 
 Dr Robert Trice    26,260,024           2.18% 
 Alistair Stobie    18,365               0.002% 
 Neil Platt         621,116              0.05% 
 

Application has been made for 127,726 new Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place on 19 January 2017. The shares will rank pari passu with the existing Ordinary Shares.

Following the SIP Awards, Hurricane's total issued and voting share capital will comprise 1,202,988,123 Ordinary Shares. This figure may be used by shareholders 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, securities of the Company.

Contact details:

 
 Hurricane Energy plc 
  Dr Robert Trice, Chief Executive 
  Officer 
  Alistair Stobie, Chief Financial    [phone] 
  Officer                              820 
 Cenkos Securities plc 
  Nominated Adviser and Joint 
  Broker 
  Derrick Lee/Nick Tulloch/Beth       [phone] 
  McKiernan                            6939 
 Macquarie Capital (Europe) 
  Limited 
  Joint Broker                        [phone] 
  Alex Reynolds/Guy de Freitas         2000 
 Vigo Communications                  [phone] 
  Patrick d'Ancona/Ben Simons          9700 
 

About Hurricane

Hurricane is an oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. The Company's focus is to discover, appraise and develop oil reserves in basement rock. Hurricane has already successfully discovered substantial volumes of oil on the UKCS. The Company has 444-470 mmboe of 2C Contingent Resources and 432-442 mmboe of P50 Prospective Resources on acreage it controls 100%.

Further information on Hurricane can be found at: www.hurricaneenergy.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHBBGDBCUBBGRX

(END) Dow Jones Newswires

January 13, 2017 07:10 ET (12:10 GMT)