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RNS Number : 8328W Jersey Oil and Gas PLC 20 April 2023
20 April 2023
Jersey Oil and Gas plc
("Jersey Oil & Gas" or the "Company")
Grant of Share Options
Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company
focused on the UK Continental Shelf ("UKCS") region of the North Sea,
announces that it has granted options over, in aggregate, 600,000 ordinary
shares of 1p each in the capital of the Company ("Ordinary Shares") to its
directors, senior management and employees at an exercise price of 247.50
pence per Ordinary Share (the "Options"), being the middle market closing
price on 19 April 2023, the latest practicable date prior to this
announcement.
Accordingly, a total of 4,134,002 option awards are outstanding following
these latest grants, which represents approximately 12.7 per cent. of the
Company's existing issued share capital of 32,554,293 Ordinary Shares.
Executive Directors
The following new Options have been granted to Company's Executive
Directors/Officers:
Name Position Number of New Options Granted Exercise Price Per Ordinary Share (pence) Exercise Period Total Options Held Following This Grant
Andrew Benitz Chief Executive Officer 150,000 247.50 7 years 800,000
Graham Forbes Chief Financial Officer 100,000 247.50 7 years 600,000
Richard Smith Chief Commercial Officer 100,000 247.50 7 years 600,000
The new Options set out in the table above all vest in three equal tranches
(one, two and three years from the date of grant) and are subject to the
satisfaction of certain performance conditions to be determined and
interpreted at the discretion of the Company's Remuneration Committee. Subject
to vesting and such performance conditions being met, the new Options are
exercisable for up to seven years from their date of grant and will lapse if
not exercised by such date.
Non-Executive Directors
The following new Options have been granted to Non-Executive Directors of the
Company:
Name Position Number of New Options Granted Exercise Price Per Ordinary Share (pence) Exercise Period Total Options Held Following This Grant
Les Thomas Non-Executive Chairman 45,000 247.50 5 years 120,000
Frank Moxon Senior Independent Non-Executive Director 20,000 247.50 5 years 100,000
Marcus Stanton Non-Executive Director 20,000 247.50 5 years 130,000
The new Options set out in the table above all vest in three equal tranches
(one, two and three years from the date of grant) and have no performance
conditions. Subject to vesting, the new Options are exercisable for up to
five years from their date of grant and will lapse if not exercised by such
date.
Senior Management and Employees
A further 165,000 new Options, in aggregate, have been granted to certain
other members of senior management and employees at the same exercise price of
247.50 pence per Ordinary Share. These options vest in the same manner as
those awarded to the Executive Directors/Officers of the Company.
Enquiries:
Jersey Oil and Gas plc Andrew Benitz, CEO C/o Camarco:
Tel: 020 3757 4980
Strand Hanson Limited James Harris Tel: 020 7409 3494
Matthew Chandler
James Bellman
Zeus Capital Limited Simon Johnson Tel: 020 3829 5000
finnCap Ltd Christopher Raggett Tel: 020 7220 0500
Tim Redfern
Camarco Billy Clegg Tel: 020 3757 4980
Rebecca Waterworth
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 ("MAR") as it forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of
the Market Abuse (Amendment) (EU Exit) Regulations 2019.
PDMR Notification Forms:
The notifications below are made in accordance with the requirements of MAR.
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Andrew Benitz
2. Reason for the Notification
a) Position/status Chief Executive Officer (Director)
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Jersey Oil & Gas plc
b) LEI 213800RIR1SZC1734G32
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 Options over ordinary shares of 1 penny each in the Company
Identification code GB00BYN5YK77
b) Nature of the Transaction Grant of Options over ordinary shares of 1 penny each in the Company
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 150,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 19 April 2023
f) Place of the transaction Outside of a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Les Thomas
2. Reason for the Notification
a) Position/status Chairman
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Jersey Oil & Gas plc
b) LEI 213800RIR1SZC1734G32
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 Options over ordinary shares of 1 penny each in the Company
Identification code GB00BYN5YK77
b) Nature of the Transaction Grant of Options over ordinary shares of 1 penny each in the Company
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 45,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 19 April 2023
f) Place of the transaction Outside of a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Marcus Stanton
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Jersey Oil & Gas plc
b) LEI 213800RIR1SZC1734G32
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 Options over ordinary shares of 1 penny each in the Company
Identification code GB00BYN5YK77
b) Nature of the Transaction Grant of Options over ordinary shares of 1 penny each in the Company
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 20,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 19 April 2023
f) Place of the transaction Outside of a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Frank Moxon
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Jersey Oil & Gas plc
b) LEI 213800RIR1SZC1734G32
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 Options over ordinary shares of 1 penny each in the Company
Identification code GB00BYN5YK77
b) Nature of the Transaction Grant of Options over ordinary shares of 1 penny each in the Company
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 20,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 19 April 2023
f) Place of the transaction Outside of a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Graham Forbes
2. Reason for the Notification
a) Position/status Chief Financial Officer (Director)
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Jersey Oil & Gas plc
b) LEI 213800RIR1SZC1734G32
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 Options over ordinary shares of 1 penny each in the Company
Identification code GB00BYN5YK77
b) Nature of the Transaction Grant of Options over ordinary shares of 1 penny each in the Company
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 100,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 19 April 2023
f) Place of the transaction Outside of a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Richard Smith
2. Reason for the Notification
a) Position/status Chief Commercial Officer
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Jersey Oil & Gas plc
b) LEI 213800RIR1SZC1734G32
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 Options over ordinary shares of 1 penny each in the Company
Identification code GB00BYN5YK77
b) Nature of the Transaction Grant of Options over ordinary shares of 1 penny each in the Company
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 100,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 19 April 2023
f) Place of the transaction Outside of a trading venue
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