Thor Energy PLC Appointment of Managing Director

RNS Number : 9102V

Thor Energy PLC

05 February 2025

 

 5 February 2025

Thor Energy PLC

 

("Thor" or the "Company")

 

Appointment of Managing Director

 

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce that Mr Andrew Hume has agreed to join the Board as Managing Director based in Perth, Western Australia.

 

Andrew has a 27-year career in the energy sector, holding key roles in multinational companies. He commenced at Thales Group (previously known as Racal Electronics), advancing to Geosciences Manager, USA. At Shell and Murphy Oil Corp, he contributed to geoscience analysis, drilling, asset management, and portfolio growth. At Maersk Oil and Gas, he led regional new ventures before steering strategy and performance across exploration and appraisal. Following the acquisition by TotalEnergies, he led regional strategy, portfolio, planning and performance, before delivering business development, leading joint ventures and managing a multiparty decarbonisation and renewables project. Andrew's career is marked by global experience and leadership across business and technical disciplines, principally in the USA, Australia, Denmark, and the UK. He holds an Executive MBA with distinction from the University of Cambridge and BSc (Hons) Geology from the University of St. Andrews.

 

Alastair Clayton, Executive Chairman commented: "It's fantastic to welcome Andrew to the Board of Thor Energy as Managing Director. Andrew has an outstanding track record in the oil and gas industry worldwide. Thor has recently entered the nascent natural hydrogen sector via the soon-to-close Go Exploration acquisition thereby giving it control of one of only four granted hydrogen licences in South Australia. Andrew's business leadership and technical skills in oil and gas are directly applicable to natural hydrogen exploration and development and will therefore be key in driving the business forward. With a prospective resource for hydrogen and helium expected to be completed by leading independent industry consultants RISC soon, it is particularly satisfying to be able to cement the executive leadership to take Thor forward."

 

AIM disclosures:

 

The following information is disclosed relating to Mr Andrew Hume pursuant to rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

 

Mr Andrew Stephen Hume, aged 50 years, does not hold ordinary shares in Thor Energy plc. As part of his Executive Services Agreement the Company has agreed to issue Mr Hume the following options as an incentive and shareholder alignment focused on short, medium and longer-term share price performance.

 

i)     Options Series A over 15,000,000 ordinary shares in the Company at a strike price of 3 cents per share (A$0.03) for a period of 2 years following the date of issue to the Executive.

ii)    Options Series B over 15,000,000 ordinary shares in the Company at a strike price of 5 cents per share (A$0.05) for a period of 3 years following the date of issue to the Executive.

iii)   Options Series C over 15,000,000 ordinary shares in the Company at a strike price of 7 cents per share (A$0.07) for a period of 4 years following the date of issue to the Executive

The Options will vest incrementally with Series A vesting immediately upon commencement, Series B, 6 months following the commencement date and Series C, 18 months following the commencement date.

 

Mr Hume has been a director of the following companies during the five years preceding the date of this announcement:

 

Current directorships / partnerships	Past directorships / partnerships within the last five years
None	None

 

 

The Board of Thor Energy Plc has approved this announcement and authorised its release.

For further information on the Company, please visit the website or please contact the following:

 

Thor Energy PLC

Alastair Clayton, Executive Chairman

Rowan Harland, Company Secretary
Tel: [phone]

 

Zeus (Nominated Adviser and Joint Broker)

Antonio Bossi / Darshan Patel / Gabriella Zwarts

Tel: [phone]

 

SI Capital Limited (Joint Broker)

Nick Emerson

Tel: [phone]

 

Yellow Jersey (Financial PR)

Dom Barretto / Shivantha Thambirajah / Bessie Elliot

[e-mail]

Tel: [phone]

 

About Thor Energy Plc

The Company is predominantly focused on uranium and energy metals and hydrogen and helium that are crucial in the shift to a clean energy economy.

For further information on Thor Energy and to see an overview of its projects, please visit the Company's website at https://thorenergyplc.com/.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1.	Details of the PDMR / person closely associated
a)	Name	Andrew Hume
2.	Reason for the notification
a)	Position / status	Managing Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thor Energy plc
b)	LEI	213800WO61Y9GPALD478
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	Option over Ordinary Shares     GB00BRJ52319
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	15,000,000 options at an exercise price of A$0.03 15,000,000 options at an exercise price of A$0.05 15,000,000 options at an exercise price of A$0.07
d)	Aggregated information	See above
	-      Aggregated volume
	-      Price
e)	Date of the transaction	5 January 2025
f)	Place of the transaction	Off market

 

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