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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Serica Energy PLC | AQSE:SQZ.GB | Aquis Stock Exchange | Ordinary Share | GB00B0CY5V57 | Ordinary Shares Usd 10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.41 | 0.68% | 208.41 | 197.00 | 217.00 | 210.50 | 207.00 | 210.50 | 11,498 | 09:53:22 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSQZ
RNS Number : 8083W
Serica Energy PLC
19 April 2023
Serica Energy plc
("Serica" or the "Company")
Exercise of Options
London, 19 April 2023 - Serica Energy plc (AIM: SQZ), a British independent upstream oil and gas company, confirms that options over a total of 1,897,637 new ordinary shares of US$0.10 each (the "New Shares") were exercised under the Company's 2017 Long Term Incentive Plan (the "LTIP").
Of the options exercised Antony Craven Walker (Chairman), Mitch Flegg (Chief Executive Officer) and Andy Bell (Chief Financial Officer) (together the "Directors") have exercised options over 249,306, 249,306 and 152,907 ordinary shares respectively under the Company's LTIP. The options exercised by the Directors were granted on 25 May 2018 and were due to expire in May 2023.
As set out below, the Chairman and Chief Financial Officer have elected to retain all the New Shares to which they are entitled and to reimburse the Company for the PAYE arising, amounting in aggregate to GBP432,986.92. In the case of the Chief Executive Officer a portion of the New Shares have been sold to cover the Director's tax liabilities which have arisen as a result of the exercise. In each case the remaining New Shares have been retained by the Directors.
Director Position Number of Number of Number of options exercised shares sold shares retained to cover tax liabilities Antony Craven Walker Chairman 249,306 Nil 249,306 Chief Executive Mitch Flegg Officer 249,306 117,586 131,720 Chief Financial Andy Bell Officer 152,907 Nil 152,907
Following the dealings described above, the Director's interests in the Company are set out below:
Director Number of shares Percentage holding in the Company in the Company (% of ISC) Antony Craven Walker 7,607,000 1.99% Mitch Flegg 316,165 0.08% Andy Bell 171,616 0.04%
The notifications below, provided in accordance with the requirements of the UK Market Abuse Regulation, provide further details.
1. Details of the person discharging managerial responsibilities / person closely associated a. Name Antony Craven Walker ----------------------------- ----------------------------------------------------------------------------------------------- 2. Reason for the notification ------------------------------------------------------------------------------------------------------------------------------ a. Position/status Chairman ----------------------------- ----------------------------------------------------------------------------------------------- b. Initial Initial Notification notification/Amendment ----------------------------- ----------------------------------------------------------------------------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------------------------------------------------------ a. Name Serica Energy PLC ----------------------------- ----------------------------------------------------------------------------------------------- b. LEI 213800EZZOKA815VC426 ----------------------------- ----------------------------------------------------------------------------------------------- 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 Ordinary shares of US$0.10 per share par value instrument, type of instrument Identification code GB00B0CY5V57 ----------------------------- ----------------------------------------------------------------------------------------------- b. Nature of the transaction Exercise of options granted under the LTIP (income tax liability met by Antony Craven Walker); ----------------------------- ----------------------------------------------------------------------------------------------- c. Price(s) and volume(s) Price(s) Volume(s) Nil 249,306 ---------- ---------- Income tax liability on exercise of options amounting to GBP266,333.60 paid by Antony Craven Walker ----------------------------- ----------------------------------------------------------------------------------------------- d. Aggregated information * Aggregated volume N/A - as above in (c) * Price ----------------------------- ----------------------------------------------------------------------------------------------- e. Date of the transaction 14 April 2023 ----------------------------- ----------------------------------------------------------------------------------------------- f. Place of the transaction Outside a trading venue ----------------------------- ----------------------------------------------------------------------------------------------- 2. Details of the person discharging managerial responsibilities / person closely associated g. Name Mitch Flegg ---------------------------------------------- ------------------------------------------------------ 5. Reason for the notification ------------------------------------------------------------------------------------------------------ a. Position/status Chief Executive Officer ---------------------------------------------- ------------------------------------------------------ b. Initial notification/Amendment Initial Notification ---------------------------------------------- ------------------------------------------------------ 6. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------------------------------------ a. Name Serica Energy PLC ---------------------------------------------- ------------------------------------------------------ b. LEI 213800EZZOKA815VC426 ---------------------------------------------- ------------------------------------------------------ 7. 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 Ordinary shares of US$0.10 per share par value of instrument Identification code GB00B0CY5V57 ---------------------------------------------- ------------------------------------------------------ b. Nature of the transaction (i) Exercise of options granted under the LTIP; and (ii) Sale of ordinary shares immediately following the exercise described in (i) above to cover income tax, NIC and fees. ---------------------------------------------- ------------------------------------------------------ c. Price(s) and volume(s) Price(s) Volume(s) (i) Nil 249,306 ---------- ---------- (ii) 233.5618p 117,586 ---------- ----------
---------------------------------------------- ------------------------------------------------------ d. Aggregated information * Aggregated volume N/A - as above in (c) * Price ---------------------------------------------- ------------------------------------------------------ e. Date of the transaction (i) 14 April 2023 (ii) 19 April 2023 ---------------------------------------------- ------------------------------------------------------ f. Place of the transaction (i) Outside a trading venue (ii) London Stock Exchange, AIM ---------------------------------------------- ------------------------------------------------------ 3. Details of the person discharging managerial responsibilities / person closely associated g. Name Andy Bell ----------------------------- -------------------------------------------------------------------------------------------- 8. Reason for the notification --------------------------------------------------------------------------------------------------------------------------- a. Position/status Chief Financial Officer ----------------------------- -------------------------------------------------------------------------------------------- b. Initial Initial Notification notification/Amendment ----------------------------- -------------------------------------------------------------------------------------------- 9. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --------------------------------------------------------------------------------------------------------------------------- a. Name Serica Energy PLC ----------------------------- -------------------------------------------------------------------------------------------- b. LEI 213800EZZOKA815VC426 ----------------------------- -------------------------------------------------------------------------------------------- 10. 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 Ordinary shares of US$0.10 per share par value instrument, type of instrument Identification code GB00B0CY5V57 ----------------------------- -------------------------------------------------------------------------------------------- b. Nature of the transaction Exercise of options granted under the LTIP (income tax liability met by Andy Bell); ----------------------------- -------------------------------------------------------------------------------------------- c. Price(s) and volume(s) Price(s) Volume(s) (i) Nil 152,907 ---------- ---------- Income tax liability on exercise of options amounting to GBP166,653.33 paid by Andy Bell. ----------------------------- -------------------------------------------------------------------------------------------- d. Aggregated information * Aggregated volume N/A - as above in (c) * Price ----------------------------- -------------------------------------------------------------------------------------------- e. Date of the transaction 14 April 2023 ----------------------------- -------------------------------------------------------------------------------------------- f. Place of the transaction Outside a trading venue ----------------------------- --------------------------------------------------------------------------------------------
Enquiries:
+44 (0)20 7390 Serica Energy plc 0230 Mitch Flegg (CEO) / Andy Bell (CFO) +44 (0)20 7418 Peel Hunt (Nomad & Joint Broker) 8900 Richard Crichton / David McKeown +44 (0)20 7029 Jefferies (Joint Broker) 8000 Tony White / Will Soutar +44 (0)20 7390 Vigo Consulting (PR Advisor) 0230 Patrick d'Ancona / Finlay Thomson serica@vigoconsulting.com
NOTES TO EDITORS
Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets.
On 20 December 2022, Serica announced that it had entered into an agreement to acquire the entire issued share capital of Tailwind Energy Investments Ltd from Tailwind Energy Holdings LLP. The transaction completed on 23 March 2023.
Following the addition of the Tailwind assets to its portfolio, Serica has a balance of gas and oil production. The Company is responsible for about 5% of the natural gas produced in the UK, a key element in the UK's energy transition.
Serica's producing assets are focused around two main hubs: the Bruce, Keith and Rhum fields in the UK Northern North Sea, which it operates, and a mix of operated and non-operated fields tied back to the Triton FPSO. Serica also has operated interests in the producing Columbus (UK Central North Sea) and Orlando (UK Northern North Sea) fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.
Serica's portfolio of assets includes several organic investment opportunities which are currently being pursued or are under consideration.
Further information on the Company can be found at www.serica-energy.com . The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ and the Company is a designated foreign issuer on the TSX. To receive Company news releases via email, please subscribe via the Company website.
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April 19, 2023 11:44 ET (15:44 GMT)
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