Chariot Oil & Gas Ld Grant of Deferred Share Awards (3899C)

TIDMCHAR

RNS Number : 3899C

Chariot Oil & Gas Ld

13 April 2017

13 April 2017

Chariot Oil & Gas Limited

("Chariot", the "Company" or the "Group")

Grant of Deferred Share Awards

In line with best practice corporate governance for AIM companies, Chariot aims to remunerate its Executive Team by aligning their interests with those of its Shareholders. With this purpose the Annual Executives' Bonus Scheme looks to reward the achievement of pre-defined corporate performance targets through the grant of deferred bonus share awards based on the extent to which these targets are achieved during the relevant financial year.

As a result, under the 2016 Executives' Bonus Scheme, the following Persons Discharging Managerial Responsibilities ("PDMR") were granted deferred bonus share awards in the form of nil cost options over Ordinary Shares on 13 April 2017 under the Company's Long Term Incentive Share Scheme. Subject to continued employment, these share awards will vest on 1 January 2020 and will remain exercisable until 12 April 2027.

 
 PDMR                       Position           Number of Shares 
                                                Awarded 
                            Chief Executive 
 Larry Bottomley             Officer              1,825,000 
                            Chief Financial 
 Julian Maurice-Williams     Officer               625,000 
 

The number of shares subject to each deferred bonus share award was calculated based on the average share price during 2016.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 
 For further information please 
  contact: 
 
  Chariot Oil & Gas Limited 
  Larry Bottomley, CEO                 [phone] 
 finnCap (Nominated Adviser 
  and Joint Broker) 
  Matt Goode, Christopher Raggett    [phone] 
 Peel Hunt (Joint Broker) 
  Richard Crichton, Ross Allister    [phone] 
 EMC(2) Advisory (Media Contact) 
  Natalia Erikssen                   [phone] 
 

About Chariot

Chariot Oil & Gas Limited is an independent oil and gas exploration group. It holds licences covering four blocks in Namibia, three blocks in Morocco and four licences in the Barreirinhas Basin offshore Brazil. All of these blocks are currently in the exploration phase.

The ordinary shares of Chariot Oil & Gas Limited are admitted to trading on the AIM Market of the London Stock Exchange under the symbol 'CHAR'.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------------------------ 
 a)   Name                             Larry Bottomley 
---  -------------------------------  --------------------------------------- 
 2.   Reason for the Notification 
---  ------------------------------------------------------------------------ 
 a)   Position/status                  Chief Executive Officer 
---  -------------------------------  --------------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
---  -------------------------------  --------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------------------ 
 a)   Name                             Chariot Oil & Gas Limited 
---  -------------------------------  --------------------------------------- 
 b)   LEI                              21380046DOGKITYU6X54 
---  -------------------------------  --------------------------------------- 
 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                   Option over Ordinary Shares. 
       the Financial 
       instrument, type 
       of instrument 
--- 
      Identification                   ISIN for Chariot Oil & Gas 
       code                             Limited Ordinary Shares: GG00B2R9PM06 
---  -------------------------------  --------------------------------------- 
 b)   Nature of the                    Grant of option over Ordinary 
       transaction                      Shares. In accordance with 
                                        the Company's Long Term Incentive 
                                        Share Scheme this option will 
                                        vest on 1 January 2020 and 
                                        will remain exercisable until 
                                        12 April 2027. 
---  -------------------------------  --------------------------------------- 
 c)   Price(s) and 
       volume(s)                          Price(s)    Volume(s) 
                                         ----------  ---------- 
                                          GBPnil      1,825,000 
                                         ----------  ---------- 
---  -------------------------------  --------------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume           Not applicable, single transaction. 
 
 
        *    Price 
---  -------------------------------  --------------------------------------- 
 e)   Date of the transaction          13 April 2017 
---  -------------------------------  --------------------------------------- 
 f)   Place of the                     Outside a trading venue. 
       transaction 
---  -------------------------------  --------------------------------------- 
 
 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ----------------------------------------------------------------------- 
 a)   Name                             Julian Maurice-Williams 
---  -------------------------------  -------------------------------------- 
 2.   Reason for the Notification 
---  ----------------------------------------------------------------------- 
 a)   Position/status                  Chief Financial Officer 
---  -------------------------------  -------------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
---  -------------------------------  -------------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ----------------------------------------------------------------------- 
 a)   Name                             Chariot Oil & Gas Limited 
---  -------------------------------  -------------------------------------- 
 b)   LEI                              21380046DOGKITYU6X54 
---  -------------------------------  -------------------------------------- 
 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                      Option over Ordinary Shares. 
       of the Financial 
       instrument, 
       type of instrument 
--- 
      Identification                   ISIN for Chariot Oil & Gas 
       code                             Limited Ordinary Shares: 
                                        GG00B2R9PM06 
---  -------------------------------  -------------------------------------- 
 b)   Nature of the                    Grant of option over Ordinary 
       transaction                      Shares. In accordance with 
                                        the Company's Long Term Incentive 
                                        Share Scheme this option 
                                        will vest on 1 January 2020 
                                        and will remain exercisable 
                                        until 12 April 2027. 
---  -------------------------------  -------------------------------------- 
 c)   Price(s) and 
       volume(s)                          Price(s)    Volume(s) 
                                         ----------  ---------- 
                                          GBPnil      625,000 
                                         ----------  ---------- 
---  -------------------------------  -------------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume           Not applicable, single transaction. 
 
 
        *    Price 
---  -------------------------------  -------------------------------------- 
 e)   Date of the                      13 April 2017 
       transaction 
---  -------------------------------  -------------------------------------- 
 f)   Place of the                     Outside a trading venue. 
       transaction 
---  -------------------------------  -------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 13, 2017 05:00 ET (09:00 GMT)