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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| President Energy Plc | LSE:PPC | London | Ordinary Share | GB00BMT80K89 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 155.00 | 150.00 | 160.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPPC
RNS Number : 9254R
President Energy PLC
20 June 2018
20 June 2018
PRESIDENT ENERGY PLC
("President" or "the Company")
Award of Options
President announces that it has granted share options to acquire ordinary shares in the Company to the following persons discharging management responsibilities together with other senior management in accordance with the Company's Global Incentive Plan ("GIP").
The options are subject to standard conditions under the GIP including share price performance targets, three year vesting periods and have an exercise price of 9.25p, being the market closing share price on 19 June 2018, the last practical day before this announcement.
Peter Levine has voluntarily decided to relinquish all his previously issued options and declined any further grants in the future. Accordingly, including this, the Remuneration Committee of President has noted that 11,275,333 previously issued options have lapsed or have been cancelled since the Company's last award of options announcement in June 2017.
Hot Features
Premium
Executive No. of Options No. of Total
Awarded Options
Rob Shepherd
Group Financial Director 5,000,000 5,000,000
-------------------------- ------------------------
Warren Levy
CEO Argentina 8,000,000 8,000,000
-------------------------- ------------------------
David Scott Daspit
VP Operations USA 2,000,000 5,000,000
-------------------------- ------------------------
Maria Claudia Perez
CFO Argentina 2,000,000 2,000,000
-------------------------- ------------------------
Senior Management
(Non PDMRs) 11,950,000 19,700,000
-------------------------- ------------------------
Each of the awarded options have a share price performance condition, for each equal one third tranche, of 13.88p (first tranche), 20.81p (second tranche) and 27.06p (third tranche).
In total, including existing awards and adjustments for lapsed and cancelled option awards, the number of outstanding options granted to management to acquire ordinary shares is now 58,450,000 or 5.5% of the Company's issued share capital. However, a total of 10,550,000 previously issued options are expected to expire on 29 July 2018; such options represent 1% of the Company's issued share capital and at present are not currently eligible for vesting in accordance with the performance conditions.
Contact:
President Energy PLC Peter Levine, Chairman, Chief Executive Rob Shepherd, Group FD +44 (0) 207 016 7950 finnCap (Nominated Advisor & Joint Broker) Christopher Raggett, Scott Mathieson, Andrew Burdis +44 (0) 207 220 0573 BMO Capital Markets (Joint Broker) Jeremy Low, Neil Haycock, Tom Rider +44 (0) 207 236 1010 Camarco Financial PR Billy Clegg, Owen Roberts, Violet Wilson +44 (0) 203 757 4980
The information communicated in this announcement is inside information for the purpose of Article 7 of Regulation 596/2014.
Notes to Editors
President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets. The Company currently has independently assessed 1P reserves in excess of 15 MMboe and 2P reserves of more than 27 MMboe.
The Company has operated interests in the Puesto Flores and Estancia Vieja Concession, Rio Negro Province, in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. The Company is focused on growing production in the near term in Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.
President Energy's third largest shareholder is the IFC, part of the World Bank Group and is actively pursuing value accretive acquisitions of high quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support and an in-country management team, President Energy gives UK investors rare access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.
The following disclosures are made in accordance with Article 19.3 of the EU Market Abuse Regulation 596/2014:
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Rob Shepherd
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Group Financial Director, PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) GBP0.0925 5,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
9.25p 5,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Warren Levy
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Chief Executive Officer Argentina , PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) 9.25p 8,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
GBP0.0925 8,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name David Scott Daspit
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Vice President of USA Operations, PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) 9.25p 2,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
GBP0.0925 2,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name Maria Claudia Perez
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a. Position/status Chief Financial Officer Argentina, PDMR
------------------------------ ---------------------------------------------
b. Initial notification Initial Notification
/Amendment
------------------------------ ---------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a. Name President Energy plc
------------------------------ ---------------------------------------------
b. LEI 213800MA2ZN22I4ITA79
------------------------------ ---------------------------------------------
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 Ordinary Shares of 1p each
the ISIN: GB00B3DDP128
Financial instrument,
type
of instrument
Identification
code
------------------------------ ---------------------------------------------
b. Nature of the Award of Share options in with the Company's
transaction Global Incentive Plan.
------------------------------ ---------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) 9.25p 2,000,000
----------
------------------------------ ---------------------------------------------
d. Aggregated information
* Aggregated volume Price(s) Volume(s)
GBP0.0925 2,000,000
----------
* Price
------------------------------ ---------------------------------------------
e. Date of the transaction 19 June 2018
------------------------------ ---------------------------------------------
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.
END
DSHDBGDLRSBBGIC
(END) Dow Jones Newswires
June 20, 2018 02:00 ET (06:00 GMT)
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