REG - Afentra PLC - Incentive Plan Awards & PDMR Dealings
20/03/2024 10:00
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RNS Number : 6031H Afentra PLC 20 March 2024
20 March 2024
AFENTRA PLC
VESTING OF FOUNDERS' INCENTIVE PLAN AWARDS
DIRECTOR / PDMR DEALINGS
Afentra plc ('Afentra' or the 'Company'), the upstream oil and gas Company
focused on acquiring production and development assets in Africa announces
the conversion of conditional awards made to the executive directors of the
Company under the terms of the Afentra plc Founders' Share Plan (the "Plan"),
which were previously announced on 10 August 2022. The conditional awards have
converted into nil cost options 1 ("Nil Cost Options") over ordinary shares
of £0.10 each in the Company ("Ordinary Shares") following the first
measurement date, which occurred on 16 March 2024. Fifty per cent. of the
Nil Cost Options have vested immediately, with the remainder vesting on 16
March 2026. Each of Paul McDade and Ian Cloke have exercised their vested
Nil Cost Options1.
As a consequence of the above, each of the executive directors have received
vested Ordinary Shares after deductions for income tax and national
insurance. The price per Ordinary Share used to calculate the number of
Ordinary Shares to be issued to the executive directors was 39.49 pence, being
the average closing mid-market price of the Ordinary Shares over the 30 day
period ending on 16 March 2024 .
Details of the conversion and vesting described above are as follows for each
of the executive directors:
Director Nil Cost Options granted1 Ordinary Shares received, net of tax Percentage of issued share capital Gross Number of unvested Nil Cost Options1
Paul McDade 8,495,116 2,251,206 1.0% 4,247,558
Ian Cloke 6,345,750 1,681,624 0.74% 3,172,875
Anastasia Deulina 5,629,294 1,491,763 0.66% 2,814,647
As a result of the issuance of Ordinary Shares pursuant to the Plan, the total
aggregate shareholding in the Company of Paul McDade comprises 5,339,398
Ordinary Shares, representing approximately 2.36% of the Company's issued
share capital, the total aggregate shareholding in the Company of Ian Cloke
and persons closely associated with him comprises 3,807,455 Ordinary Shares,
representing approximately 1.68% of the Company's issued share capital, and
the total aggregate shareholding in the Company of Anastasia Deulina comprises
2,539,835 Ordinary Shares, representing approximately 1.12% of the Company's
issued share capital. Further details of the Plan and the conditional awards
made thereunder were disclosed in the Company's annual report and financial
statements for the year ended 31 December 2022.
Admission & Total Voting Rights
As a result of such vesting, together with the vesting of certain awards made
to employees other than the executive directors under the Afentra plc Long
Term Incentive Plan ("LTIP") on 16 March 2024 the Company has applied to the
London Stock Exchange for admission of 6,102,470 new Ordinary Shares to
trading on AIM ("Admission"). Admission is expected to occur on or around 21
March 2024.
The Company's issued share capital now comprises 226,155,990 Ordinary Shares.
The total number of voting rights in the Company is 226,155,990. This figure
may be used by shareholders as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or
change to their interest in, the share capital of the Company under the
Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
The following notifications are made pursuant to Article 19(3) of the Market
Abuse Regulation.
PDMR Notifications
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Paul McDade
2. Reason for the notification
a. Position/status Chief Executive Officer
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Afentra plc
b. LEI 21380028BFDFJK8BRX92
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 Ordinary shares of £0.10 per share par value
of instrument GB00B4X3Q493
Identification code
b. Nature of the transaction Grant, Vesting and Exercise of Nil Cost Options
c. Price(s) and volume(s) Price(s) Volume(s)
Nil 2,251,206
d. Aggregated information
·Aggregated volume N/A
·Price
e. Date of the transaction 18 March 2024
f. Place of the transaction Off Market
d.
Aggregated information
·Aggregated volume
·Price
N/A
e.
Date of the transaction
18 March 2024
f.
Place of the transaction
Off Market
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Ian Cloke
2. Reason for the notification
a. Position/status Chief Operating Officer
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Afentra plc
b. LEI 21380028BFDFJK8BRX92
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 Ordinary shares of £0.10 per share par value
of instrument GB00B4X3Q493
Identification code
b. Nature of the transaction Grant, Vesting and Exercise of Nil Cost Options
c. Price(s) and volume(s) Price(s) Volume(s)
Nil 1,681,624
d. Aggregated information
·Aggregated volume N/A
·Price
e. Date of the transaction 18 March 2024
f. Place of the transaction Off Market
d.
Aggregated information
·Aggregated volume
·Price
N/A
e.
Date of the transaction
18 March 2024
f.
Place of the transaction
Off Market
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Anastasia Deulina
2. Reason for the notification
a. Position/status Chief Financial Officer
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Afentra plc
b. LEI 21380028BFDFJK8BRX92
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 Ordinary shares of £0.10 per share par value
of instrument GB00B4X3Q493
Identification code
b. Nature of the transaction Vesting of Ordinary Shares
c. Price(s) and volume(s) Price(s) Volume(s)
Nil 1,491,763
d. Aggregated information
·Aggregated volume N/A
·Price
e. Date of the transaction 18 March 2024
f. Place of the transaction Off Market
d.
Aggregated information
·Aggregated volume
·Price
N/A
e.
Date of the transaction
18 March 2024
f.
Place of the transaction
Off Market
For further information, contact
Afentra plc
+44 (0)20 7405 4133
Paul McDade, CEO
Anastasia Deulina, CFO
Buchanan (Financial PR)
+44 (0)20 7466 5000
Ben Romney
Barry Archer
George Pope
Peel Hunt LLP (Nominated Advisor and Joint Broker)
+44 (0)20 7418 8900
Richard Crichton
David McKeown
Georgia Langoulant
Tennyson Securities (Joint Broker)
+44 (0)20 7186 9033
Peter Krens
About Afentra
Afentra plc (AIM:AET) is an upstream oil and gas company focused on
opportunities in Africa. The Company's purpose is to support a responsible
energy transition in Africa by establishing itself as a credible partner for
divesting IOCs and Host Governments. Afentra has a 16% non-operated interest
in the producing Block 3/05, a 5.33% non-operating interest in the adjacent
development Block 3/05A, and a 40% non-operating interest in the exploration
Block 23, all offshore Angola in the Lower Congo Basin. Afentra has a
current carried interest in the Odewayne Block onshore southwestern
Somaliland.
1 As a US taxpayer, Anastasia Deulina's Conditional Award converts into a
Free Share Award and not a Nil Cost Option. Consequently, 50% of the Ordinary
Shares comprised in her Free Share Award have vested immediately, with the
remainder vesting on 16 March 2026
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