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PHAR Pharos Energy Plc

23.90
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pharos Energy Plc LSE:PHAR London Ordinary Share GB00B572ZV91 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 23.90 23.90 24.50 23.90 23.50 23.50 239,412 16:29:59
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil & Gas Field Services,nec 167.9M -48.8M -0.1128 -2.12 103.41M

Pharos Energy PLC Increase in Director/PDMR Shareholdings

13/05/2024 7:30am

RNS Regulatory News


RNS Number : 0685O
Pharos Energy PLC
13 May 2024
 

 

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

 

 

Increase in Director/PDMR Shareholdings

 

The Company announces that, on 10 May 2024, its Executive Director and Persons Discharging Managerial Responsibility ("PDMRs") increased their shareholdings pursuant to the vesting of nil-cost share awards ("Awards") under the Company's Deferred Share Bonus Plan 2014 ("DSBP") over ordinary shares of £0.05 each in the Company ("Shares"), as set out in the table below.

 

The Awards were originally granted in 2022 to vest and become exercisable after two years at nil cost in respect of a proportion of the performance related annual bonus earned in the 2021 financial year.

 

Director/

PDMR

Position

Grant Date

Awards

exercised*

Shares sold

to settle tax liabilities

and associated costs arising on exercise

Average Price achieved

Shares Acquired and held

Total number

of Shares held following transactions

% of Company's Issued Share Capital (excluding treasury shares)

Sue Rivett

Chief Financial Officer

25 March 2024

145,431

68,491

£0.226207

76,940

368,981

0.088%

Jann Brown

Chief Executive Officer (PDMR)

25 March 2024

598,510

281,867

£0.226207

316,643

2,622,077

0.624%

*Includes accrued dividends

 

The shares delivered to the Directors under the DSBP are from those held by the Pharos employee benefit trust to satisfy such Awards. There is therefore no increase in the issued share capital of the Company as a result of the vesting and exercise of these Awards. 

 

For further information, please contact:

Pharos Energy plc                                                                                                                                   Tel: 0207 603 1515

Tony Hunter, Company Secretary

Notes to editors

Pharos Energy plc is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders, which is listed on the London Stock Exchange. Pharos has production, development and/or exploration interests in Egypt and Vietnam. In Egypt, Pharos holds a 45% working interest share in the El Fayum Concession in the Western Desert, with IPR Lake Qarun, part of the international integrated energy business IPR Energy Group, holding the remaining 55% working interest. The El Fayum Concession produces oil from 10 fields and is located 80 km southwest of Cairo. It is operated by Petrosilah, a 50/50 joint stock company between the contractor parties (being IPR Lake Qarun and Pharos) and the Egyptian General Petroleum Corporation (EGPC). Pharos also holds a 45% working interest share in the North Beni Suef (NBS) Concession in Egypt, which is located immediately south of the El Fayum Concession. IPR Lake Qarun operates and holds the remaining 55% working interest in the NBS Concession. In Vietnam, Pharos has a 30.5% working interest in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field and is operated by the Hoang Long Joint Operating Company. Pharos' unitised interest in the TGT field is 29.7%. Pharos also has a 25% working interest in the Ca Ngu Vang (CNV) field located in Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Blocks 16-1 and 9-2 are located in the shallow water Cuu Long Basin, offshore southern Vietnam. Pharos also holds a 70% interest in, and is designated operator of, Blocks 125 & 126, located in the moderate to deep water Phu Khanh Basin, north east of the Cuu Long Basin, offshore central Vietnam.

 

 

1

Details of the person discharging managerial responsibilities

a)

Name

SUE RIVETT

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

PHAROS ENERGY PLC

 

b)

 

LEI

549300DDKLXYLLO4N524

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

 

Identification code

 

ORDINARY SHARES OF £0.05 EACH

 

 

GB00B572ZV91

b)

 

Nature of the transaction

 

 

1.   Exercise of nil-cost share awards under the Company's Deferred Share Bonus Plan 2014.

2.   Sale of a proportion of the resulting shares to cover tax liabilities and associated costs arising on exercise.

 

c)

 

Price(s) and volume(s)

 

 

 

Exercise

Price(s)

£0.00

Volume(s)

145,431

Sale of proportion of resulting shares

Price(s)

£0.226207

Volume(s)

68,491

d)

 

Aggregated information

 

-       Aggregated volume

 

-       Price

 

Transaction type

Aggregated Volume(s)

Price(s)

 

Exercise of share awards

145,431

£0.00

Sale of a proportion of resulting shares

68,491

£15,493.14

e)

 

Date of the transaction

 

10/05/24

f)

 

Place of the transaction

 

X-LON

 

 

1

 

Details of the person discharging managerial responsibilities

a)

Name

JANN BROWN

2

Reason for the notification

a)

Position/status

Chief Executive Officer (PDMR)

 

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

PHAROS ENERGY PLC

 

b)

 

LEI

549300DDKLXYLLO4N524

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

 

Identification code

 

ORDINARY SHARES OF £0.05 EACH

 

 

GB00B572ZV91

b)

 

Nature of the transaction

 

 

3.   Exercise of nil-cost share awards under the Company's Deferred Share Bonus Plan 2014.

4.   Sale of a proportion of the resulting shares to cover tax liabilities and associated costs arising on exercise.

 

c)

 

Price(s) and volume(s)

 

 

 

Exercise

Price(s)

£0.00

Volume(s)

598,510

Sale of proportion of resulting shares

Price(s)

£0.226207

Volume(s)

281,867

d)

 

Aggregated information

 

-       Aggregated volume

 

-       Price

 

Transaction type

Aggregated Volume(s)

Price(s)

 

Exercise of share awards

598,510

£0.00

Sale of a proportion of resulting shares

281,867

£63,760.29

e)

 

Date of the transaction

 

10/05/24

f)

 

Place of the transaction

 

X-LON

 

 

 

 

 

 

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