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Share Name Share Symbol Market Type Share ISIN Share Description
President Energy Plc LSE:PPC London Ordinary Share GB00B3DDP128 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 3.33% 1.55 1.50 1.60 1.6125 1.475 1.575 4,716,483 10:38:58
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 30.8 -70.5 -6.0 - 31

President Energy PLC Grant of Share Options

20/11/2020 7:00am

UK Regulatory (RNS & others)


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TIDMPPC

RNS Number : 9391F

President Energy PLC

20 November 2020

20 November 2020

PRESIDENT ENERGY PLC

("President Energy" or the "Company")

Grant of Share Options

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, confirms that it has granted options over, in aggregate, 35,000,000 1p Ordinary Shares in the Company ("Ordinary Shares") to such of its USA and LatAm senior management and employees stated below, all being persons discharging managerial responsibilities (the "Options").

The new Options set out in the table below for senior management and employees are designed to promote long-term stability and retention among key management as well as providing performance incentive to reward loyalty and long service.

The Options vest in two equal tranches being 12 and 24 months from the date of grant subject always to the relevant persons still being in the employ of the group at the relevant stages and not under notice. Subject to vesting and such conditions being met, the new Options are exercisable for up to six months from the vesting date of each tranche and will lapse if not exercised by such date.

 
 Name/Position                No of Options      Date of     Vesting     Exercise      Latest time 
                                                   Grant      Period        Price      to exercise 
                                                                        per share 
                          -----------------  -----------  ---------- 
                                                                                      Six months 
                                                                                     after vesting 
 Jordan Coleman                   5,000,000   19/11/2020   12 Months      1 Pence       period 
 COO LatAm                        5,000,000   19/11/2020   24 Months      1 Pence 
                          -----------------  -----------  ----------  ----------- 
                                                                                      Six months 
                                                                                     after vesting 
 Martin Gee                       1,500,000   19/11/2020   12 Months      1 Pence       period 
 Head of Sub-Surface              2,500,000   19/11/2020   24 Months      1 Pence 
                          -----------------  -----------  ----------  ----------- 
                                                                                      Six months 
                                                                                     after vesting 
 Claudia Perez                    1,500,000   19/11/2020   12 Months      1 Pence       period 
                                                                                   --------------- 
 CFO Argentina                    2,500,000   19/11/2020   24 Months      1 Pence 
                          -----------------  -----------  ----------  -----------  --------------- 
                                                                                      Six months 
                                                                                     after vesting 
 Lucia D'Agostino                 1,500,000   19/11/2020   12 Months      1 Pence       period 
                                                                                   --------------- 
 Legal & Administration 
  Director                        2,500,000   19/11/2020   24 Months      1 Pence 
                          -----------------  -----------  ----------  -----------  --------------- 
                                                                                      Six months 
                                                                                     after vesting 
 Diego De La Vega                 1,500,000   19/11/2020   12 Months      1 Pence       period 
                                                                                   --------------- 
 Supply Chain Director            2,500,000   19/11/2020   24 Months      1 Pence 
                          -----------------  -----------  ----------  -----------  --------------- 
                                                                                      Six months 
                                                                                     after vesting 
 Ulises Macagno                   1,500,000   19/11/2020   12 Months      1 Pence       period 
                                                                                   --------------- 
 Commercial Director              2,500,000   19/11/2020   24 Months      1 Pence 
                          -----------------  -----------  ----------  -----------  --------------- 
                                                                                      Six months 
                                                                                     after vesting 
 Scott Daspit                     2,500,000   19/11/2020   12 Months      1 Pence       period 
                                                                                   --------------- 
 Head of Operations 
  USA                             2,500,000   19/11/2020   24 Months      1 Pence 
                          -----------------  -----------  ----------  -----------  --------------- 
                                35,000,000 
 

Excluding the new Options, the Company has existing outstanding awards including adjustments for lapsed or cancelled option awards of 23,866,664 representing 1.18% of the Issued Share Capital which in the view of the Directors are very unlikely to be exercised. With the addition of the grant of the new Options contained within this announcement, the total amount of share options granted to management to acquire ordinary shares is in aggregate 58,866,664 representing 2.92% of the Company's current issued share capital.

Contact:

 
 
   President Energy PLC 
   Rob Shepherd, Group FD                  +44 (0) 207 016 7950 
   Nikita Levine, Investor Relations       info@presidentpc.com 
 finnCap (Nominated Advisor) 
  Christopher Raggett, Charlie Beeson      +44 (0) 207 220 0500 
 
   Shore Capital (Corporate Broker) 
   Jerry Keen, Antonio Bossi               +44 (0) 207 408 4090 
 

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 has operated interests in the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions, and Angostura exploration contract, all of which are situated in the Rio Negro Province in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW 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.

The Group is also 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, including the IFC, part of the World Bank Group as well as the international commodity trader and logistics company Trafigura, an in-country management team as well as a Board whose interests are aligned to those of its shareholders, President Energy gives UK investors access to the Argentina energy growth story combined with world class standards of corporate governance, environmental and social responsibility.

This announcement contains inside information for the purposes of article 7 of Regulation 596/2014

 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Jordan Coleman 
     --------------------------------------  ------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Chief Operating Officer 
                                               Latin America 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 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 the financial            Ordinary Shares of 1p each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Share Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 1 pence     10,000,000 
                                                            ----------- 
     --------------------------------------  ------------------------------- 
 d)     Aggregated information:               Single transaction as in 
          *    Aggregated volume:              4 c) above 
 
 
          *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                19 November 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside a trading venue 
     --------------------------------------  ------------------------------- 
 
 
 5.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Scott Daspit 
     --------------------------------------  ------------------------------- 
 6.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Head of Operations USA 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 7.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name:                                   President Energy plc 
     --------------------------------------  ------------------------------- 
 b)   LEI:                                    213800MA2ZN22I4ITA79 
     --------------------------------------  ------------------------------- 
 8.   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 1p each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Share Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 1 pence     5,000,000 
                                                            ---------- 
     --------------------------------------  ------------------------------- 
 d)     Aggregated information:               Single transaction as in 
          *    Aggregated volume:              4 c) above 
 
 
          *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                19 November 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside a trading venue 
     --------------------------------------  ------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Martin Gee 
     --------------------------------------  ------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Head of Sub-Surface 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 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 the financial            Ordinary Shares of 1p each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Share Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 1 pence     4,000,000 
                                                            ---------- 
     --------------------------------------  ------------------------------- 
 d)     Aggregated information:               Single transaction as in 
          *    Aggregated volume:              4 c) above 
 
 
          *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                19 November 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside a trading venue 
     --------------------------------------  ------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Claudia Perez 
     --------------------------------------  ------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Chief Financial Officer 
                                               Argentina 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 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 the financial            Ordinary Shares of 1p each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Share Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 1 pence     4,000,000 
                                                            ---------- 
     --------------------------------------  ------------------------------- 
 d)     Aggregated information:               Single transaction as in 
          *    Aggregated volume:              4 c) above 
 
 
          *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                19 November 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside a trading venue 
     --------------------------------------  ------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Lucia D'Agostino 
     --------------------------------------  ------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Legal & Administration 
                                               Director 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 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 the financial            Ordinary Shares of 1p each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Share Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 1 pence     4,000,000 
                                                            ---------- 
     --------------------------------------  ------------------------------- 
 d)     Aggregated information:               Single transaction as in 
          *    Aggregated volume:              4 c) above 
 
 
          *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                19 November 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside a trading venue 
     --------------------------------------  ------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Diego De La Vega 
     --------------------------------------  ------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Supply Chain Director 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 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 the financial            Ordinary Shares of 1p each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Share Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 1 pence     4,000,000 
                                                            ---------- 
     --------------------------------------  ------------------------------- 
 d)     Aggregated information:               Single transaction as in 
          *    Aggregated volume:              4 c) above 
 
 
          *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                19 November 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside a trading venue 
     --------------------------------------  ------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Ulises Macagno 
     --------------------------------------  ------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Commercial Director 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 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 the financial            Ordinary Shares of 1p each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Share Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)    Volume(s) 
                                                 1 pence     4,000,000 
                                                            ---------- 
     --------------------------------------  ------------------------------- 
 d)     Aggregated information:               Single transaction as in 
          *    Aggregated volume:              4 c) above 
 
 
          *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                19 November 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside a trading venue 
     --------------------------------------  ------------------------------- 
 

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