Pharos Energy PLC Director/PDMR Shareholding (5651K)

TIDMPHAR

RNS Number : 5651K

Pharos Energy PLC

23 April 2020

Pharos Energy plc

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

DIRECTORS/PDMR SHAREHOLDINGS

Share Purchases by Directors

The Company was notified on 22 April 2020 that, on the same day, John Martin, Non-Executive Chair, Ed Story, Chief Executive Officer, Jann Brown, the Managing Director and Chief Financial Officer and Dr Mike Watts, Managing Director, purchased Pharos Energy plc ordinary shares of GBP0.05 each ("Shares") in the Company as set out in the table below. The Shares were purchased on the open market.

 
    Director          Number of       Price per    Total number      % of Company's 
                   Shares purchased     Share        of Shares        Issued Capital 
                                                   held following       (excluding 
                                                      purchase       treasury shares) 
 John Martin                100,000   GBP0.1498           130,000              0.033% 
                 ==================  ==========  ================  ================== 
 Ed Story                   100,000   GBP0.1590     14,173,747(1)              3.560% 
                 ==================  ==========  ================  ================== 
 Jann Brown                  75,000   GBP0.1490           493,801              0.124% 
                 ==================  ==========  ================  ================== 
 Dr Mike Watts               75,000   GBP0.1490           627,195              0.158% 
                 ==================  ==========  ================  ================== 
 

1 * 12,498,747 Shares (3.14%) are held personally by E Story. 1,675,000 Shares (0.42%) are held through The Story Family Trust, a closely associated person to Ed Story.

For further information, please contact:

Pharos Energy plc Tel: + 44 207 603 1515

Tony Hunter, Company Secretary

Notes to editors

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders, headquartered in London and listed on the London Stock Exchange.

Pharos has production, development and exploration interests in Egypt, Israel and Vietnam.

In Egypt, Pharos holds a 100% working interest in the El Fayum oil concession in the low-cost and highly prolific Western Desert, one of Egypt's most established and prolific hydrocarbon basins. The concession produces from 10 fields and is located 80 km south west of Cairo and close to local energy infrastructure. It is operated by Petrosilah a 50/50 JV between Pharos and Egyptian General Petroleum Corporation (EGPC). Pharos is also an operator with 100% working interest in the North Beni Suef (NBS) Concession which is located immediately south of the El Fayum concession.

In Israel, Pharos together with Cairn Energy plc and Israel's Ratio Oil Exploration, were successful in their bid for eight blocks in the second offshore bid round in Israel. Each party has an equal working interest and Cairn is the operator.

In Vietnam, Pharos holds a 30.5% working interest in the Te Giac Trang (TGT) Field in Block 16-1, which is operated by the Hoang Long Joint Operating Company. Block 16-1 is located in the shallow water Cuu Long Basin, offshore southern Vietnam and a 25% working interest in the Ca Ngu Vang (CVN) Field in Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Block 9-2 is 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.

 
 Details of the person discharging managerial responsibilities 
 Name                                 JOHN MARTIN 
                                     =================================== 
 Reason for the notification 
 Position/status                      Non-Executive Chair 
                                     =================================== 
 Initial notification /Amendment      Initial notification 
                                     =================================== 
 Details of the issuer, emission allowance market participant, auction 
  platform, auctioneer or auction monitor 
 Name                                 PHAROS ENERGY PLC 
                                     =================================== 
 LEI                                  549300DDKLXYLLO4N524 
                                     =================================== 
 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 
 Description of the financial         ORDINARY SHARES OF GBP0.05 EACH 
  instrument, type of instrument 
 
  Identification code                  GB00B572ZV91 
                                     =================================== 
 Nature of the transaction            Acquisition of shares. 
                                     =================================== 
 Price(s) and volume(s)                 Price(s)     Volume(s) 
                                         GBP0.1498    100,000 
                                                     ========== 
                                     =================================== 
 Aggregated information 
 
  - Aggregated volume                   100,000 
 
  - Price                               GBP14,980 
                                     =================================== 
 Date of the transaction              22/04/2020 
                                     =================================== 
 Place of the transaction             London Stock Exchange, XLON 
                                     =================================== 
 
 
 1    Details of the person discharging managerial responsibilities 
 a)   Name                              ED STORY 
     ================================  ======================================= 
 2    Reason for the notification 
     ========================================================================= 
 a)   Position/status                   Chief Executive Officer 
     ================================  ======================================= 
 b)   Initial notification              Initial notification 
       /Amendment 
     ================================  ======================================= 
 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                ORDINARY SHARES OF GBP0.05 EACH 
       financial instrument, 
       type of instrument 
                                         GB00B572ZV91 
       Identification code 
     ================================  ======================================= 
 b)   Nature of the transaction         Acquisition of shares. 
     ================================  ======================================= 
 c)   Price(s) and volume(s)              Price(s)     Volume(s) 
                                           GBP0.1590    100,000 
                                                       ========== 
     ================================  ======================================= 
 d)   Aggregated information 
 
       - Aggregated volume                100,000 
 
       - Price                            GBP15,900 
     ================================  ======================================= 
 e)   Date of the transaction           22/04/2020 
     ================================  ======================================= 
 f)   Place of the transaction          London Stock Exchange, XLON 
     ================================  ======================================= 
 
 
 1    Details of the person discharging managerial responsibilities 
 a)   Name                        JANN BROWN 
     ==========================  ============================================== 
 2    Reason for the notification 
     ========================================================================== 
 a)   Position/status             Managing Director and Chief Financial Officer 
     ==========================  ============================================== 
 b)   Initial notification        Initial notification 
       /Amendment 
     ==========================  ============================================== 
 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          ORDINARY SHARES OF GBP0.05 EACH 

       financial instrument, 
       type of instrument 
                                   GB00B572ZV91 
       Identification code 
     ==========================  ============================================== 
 b)   Nature of the transaction   Acquisition of shares. 
     ==========================  ============================================== 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                     GBP0.149    75,000 
                                                ========== 
     ==========================  ============================================== 
 d)   Aggregated information 
 
       - Aggregated volume          75,000 
 
       - Price                      GBP11,175 
     ==========================  ============================================== 
 e)   Date of the transaction     22/04/2020 
     ==========================  ============================================== 
 f)   Place of the transaction    London Stock Exchange, XLON 
     ==========================  ============================================== 
 
 
 1    Details of the person discharging managerial responsibilities 
 a)   Name                              MIKE WATTS 
     ================================  ======================================= 
 2    Reason for the notification 
     ========================================================================= 
 a)   Position/status                   Managing Director 
     ================================  ======================================= 
 b)   Initial notification              Initial notification 
       /Amendment 
     ================================  ======================================= 
 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                ORDINARY SHARES OF GBP0.05 EACH 
       financial instrument, 
       type of instrument 
                                         GB00B572ZV91 
       Identification code 
     ================================  ======================================= 
 b)   Nature of the transaction         Acquisition of shares. 
     ================================  ======================================= 
 c)   Price(s) and volume(s)              Price(s)    Volume(s) 
                                           GBP0.149    75,000 
                                                      ========== 
     ================================  ======================================= 
 d)   Aggregated information 
 
       - Aggregated volume                75,000 
 
       - Price                            GBP11,175 
     ================================  ======================================= 
 e)   Date of the transaction           22/04/2020 
     ================================  ======================================= 
 f)   Place of the transaction          London Stock Exchange, XLON 
     ================================  ======================================= 
 

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April 23, 2020 02:00 ET (06:00 GMT)