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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
I3 Energy Plc | LSE:I3E | London | Ordinary Share | GB00BDHXPJ60 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.135 | 1.38% | 9.92 | 9.88 | 9.89 | 10.18 | 9.58 | 9.58 | 1,434,670 | 16:35:17 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 148.36M | 15.15M | 0.0126 | 7.84 | 117.66M |
TIDMI3E
RNS Number : 0936T
i3 Energy PLC
10 November 2023
GENERAL TEXT AMMENT
The following amendment has been made to the ' LTIP Share Option and Cash Pool Awards ' announcement released on 10 November 2023 at 07:00 under RNS No 0724T.
The vesting conditions for the UK options have been updated.
All other details remain unchanged.
The full amended text is shown below.
10 November 2023
i3 Energy plc
("i3", "i3 Energy", or the "Company")
LTIP Share Option and Cash Pool Awards - Correction
i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, announces that it has issued LTIP awards, in accordance with the rules of the Company's Share Option Plan, which include option and cash pool awards ("collectively the LTIP Awards"). The LTIP Awards includes options over 18,594,470 ordinary shares to i3 staff and executive board members and an approximate cash pool reward of GBP 1,836,826. The exercise price of the options is GBP 0.1130 per share, being the closing price of the Company's shares on AIM on 9 November 2023.
The LTIP Awards issued to the executive directors and a PDMR are as follows:
Options Issued Cash Pool LTIP Majid Shafiq 2,303,390 GBP 226,703 --------------- --------------- Ryan Heath 2,190,720 GBP 212,835 --------------- --------------- Jason Dranchuk 1,655,540 GBP 161,526 --------------- ---------------
The LTIP Awards will vest over a three-year period, subject to accelerated vesting on the following performance targets being met:
a) For employees of i3 Energy Canada Ltd. and i3 Energy plc:
-- 1/3 on achieving production of 26,000 boepd (this target to be adjusted downwards by the production volume associated with any i3 divestment in the period)
-- 1/3 on the acquisition of 5,000 boepd -- 1/3 on the addition of 25 mmbbls of 2P reserves
Or 1/3 vesting each year, on the anniversary of the grant, if not vested in accordance to the conditions above.
b) For employees of i3 Energy North Sea Limited and i3 Energy plc: -- 1/3 on FDP of Serenity -- 1/3 on acquisition of 2,500 boepd -- 1/3 on addition of 10 mmbbls of 2P reserves
Or 1/3 vesting each year, on the anniversary of the grant, if not vested in accordance to the conditions above.
Regardless of the above, 100% of the LTIP Awards will vest if there is a change of control of the Company or sale of 75% of the PDP reserves.
Immediately following this announcement, the Company has in issue 1,202,447,663 Ordinary Shares of GBP0.0001 each, 5,000 deferred shares of GBP10.00 each, 18,594,470 options at an exercise price of GBP0.1130 each, 550,000 options at an exercise price of GBP0.1278 each, 3,000,000 options at an exercise price of GBP0.20 each, 1,350,000 options at an exercise price of GBP0.2155 each, 425,000 options at an exercise price of GBP0.294 each, 425,000 options at an exercise price of GBP0.2775 each, 21,149,731 options at an exercise price of GBP0.11 each, 4,962,546 share options at an exercise price of GBP0.05 each and 853,652 options at an exercise price of GBP0.0001
SEnquiries:
i3 Energy plc c/o Camarco Majid Shafiq (CEO) Tel: +44 (0) 203 781 8331 WH Ireland Limited (Nomad and Joint Broker) Tel: +44 (0) 207 220 1666 James Joyce, Darshan Patel Tennyson Securities (Joint Broker) Peter Krens Tel: +44 (0) 207 186 9030 Stifel Nicolaus Europe Limited (Joint Broker) Tel: +44 (0) 20 7710 7600 Ashton Clanfield, Callum Stewart Camarco Andrew Turner, Violet Wilson, Tel: +44 (0) 203 757 4980 Sam Morris
Notes to Editors:
i3 Energy is an oil and gas Company with a low cost, diversified, growing production base in Canada's most prolific hydrocarbon region, the Western Canadian Sedimentary Basin and appraisal assets in the North Sea with significant upside.
The Company is well positioned to deliver future growth through the optimisation of its existing 100% owned asset base and the acquisition of long life, low decline conventional production assets.
i3 is dedicated to responsible corporate practices and the environment, and places high value on adhering to strong Environmental, Social and Governance (" ESG ") practices. i3 is proud of its performance to date as a responsible steward of the environment, people , and capital management. The Company is committed to maintaining an ESG strategy, which has broader implications to long-term value creation, as these benefits extend beyond regulatory requirements.
i3 Energy is listed on the AIM market of the London Stock Exchange under the symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For further information on i3 Energy please visit https://i3.energy
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSICIATED WITH THEM
1 Details of the person discharging managerial responsibilities/person closely associated a) Name Majid Shafiq ---------------------------------- ------------------------------------ 2 Reason for the notification ------------------------------------------------------------------------ a) Position/status CEO ---------------------------------- ------------------------------------ b) Initial notification/ Initial Amendment ---------------------------------- ------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------ a) Name i3 Energy PLC ---------------------------------- ------------------------------------ b) LEI 213800949OZA9QA9FS17 ---------------------------------- ------------------------------------ 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 Options over ordinary shares financial instrument, type of instrument Identification code ---------------------------------- ------------------------------------ b) Nature of the transaction Share Option Plan ---------------------------------- ------------------------------------ c) Price(s) and volume(s) Price(s) Volume(s) GBP0.1130 2,303,390 ---------- ---------------------------------- ------------------------------------ d) Aggregated information * Aggregated volume 2,303,390 GBP0.1130 * Price ---------------------------------- ------------------------------------ e) Date of the transaction 10/11/2023 ---------------------------------- ------------------------------------ f) Place of the transaction Off market ---------------------------------- ------------------------------------ 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Ryan Heath -------------------------------- -------------------------------------- 2 Reason for the notification ------------------------------------------------------------------------ a) Position/status President, i3 Energy Canada Ltd -------------------------------- -------------------------------------- b) Initial notification/ Initial Amendment -------------------------------- -------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------ a) Name i3 Energy PLC -------------------------------- -------------------------------------- b) LEI 213800949OZA9QA9FS17 -------------------------------- -------------------------------------- 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 Options over ordinary shares financial instrument, type of instrument Identification code -------------------------------- -------------------------------------- b) Nature of the transaction Share Option Plan -------------------------------- -------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) GBP0.1130 2,190,720 ----------
-------------------------------- -------------------------------------- d) Aggregated information * Aggregated volume 2,190,720 GBP0.1130 * Price -------------------------------- -------------------------------------- e) Date of the transaction 10/11/2023 -------------------------------- -------------------------------------- f) Place of the transaction Off market -------------------------------- -------------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Jason Dranchuk ---------------------------------- ------------------------------------ 2 Reason for the notification ------------------------------------------------------------------------ a) Position/status CFO ---------------------------------- ------------------------------------ b) Initial notification/ Initial Amendment ---------------------------------- ------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------------ a) Name i3 Energy PLC ---------------------------------- ------------------------------------ b) LEI 213800949OZA9QA9FS17 ---------------------------------- ------------------------------------ 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 Options over ordinary shares financial instrument, type of instrument Identification code ---------------------------------- ------------------------------------ b) Nature of the transaction Share Option Plan ---------------------------------- ------------------------------------ c) Price(s) and volume(s) Price(s) Volume(s) GBP0.1130 1,655,540 ---------- ---------------------------------- ------------------------------------ d) Aggregated information * Aggregated volume 1,655,540 GBP0.1130 * Price ---------------------------------- ------------------------------------ e) Date of the transaction 10/11/2023 ---------------------------------- ------------------------------------ f) Place of the transaction Off market ---------------------------------- ------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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November 10, 2023 05:00 ET (10:00 GMT)
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