REG - Afentra PLC - NED Share Options & Executive Director LTIP Award

AfentraAnnouncement

15/07/2024 11:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240715:nRSO4311Wa&default-theme=true

RNS Number : 4311W  Afentra PLC  15 July 2024

15 July 2024

 

AFENTRA PLC

Grant of Non-Executive Director Share Options, and

Executive Director - Long Term Incentives Plan (LTIP) Award

Afentra plc ('Afentra' or the 'Company') (AIM: AET), the upstream oil and gas
company focused on acquiring production and development assets in Africa, has
conditionally granted, under the Executive Directors Long-Term Incentive
Scheme, new ordinary shares in the Company in the form of nil-cost share
options and has granted options over new ordinary shares to its Non-Executive
Directors at an exercise price of 57.40 pence per Ordinary Shares.

Both, the Executive Director Long Term Incentive Scheme and Non-Executive
Director Market Value Options were approved by the shareholders at the
Company's Annual General Meeting on 27 June 2024.

Grant of Non-Executive Director Share Options

The Non-Executive Director Market Value Options are a one-off award of market
value share options which will vest in a single tranche three years from
grant. Once vested, the Options will normally remain exercisable until the
10th anniversary of the grant.

 Name               Position                            Number of Options Granted

 Jeffrey MacDonald  Independent non-executive Chairman  1,500,000
 Thierry Tanoh      Independent non-executive Director  1,500,000
 Gavin Wilson       Independent non-executive Director  1,500,000

 

Executive Director Long Term Incentives Award

Following a review of Executive Director long-term incentive provision to
ensure individuals are appropriately incentivised over the next three years to
2027 and thereafter the Remuneration Committee has concluded that a
conventional LTIP should be operated for Executive Directors going forward.
Vesting of the Awards is determined by the Company's Total Shareholder Return
('TSR').

The following Directors of the Company have been granted conditional share
awards under the Company's LTIP:

 Name of PDMR         Title                    Maximum number of Ordinary Shares (Total Award)
 Paul McDade          Chief Executive Officer  1,453,287
 Ian Cloke            Chief Operating Officer  887,543
  Anastasia Deulina   Chief Financial Officer  887,543

 

 

 

 

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

Emily Bhasin

 

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. Offshore Angola Afentra has a 30%
non-operated interest in the producing Block 3/05 and a 21.33% non-operated
interest in the adjacent development Block 3/05A in the Lower Congo Basin and
a 40% non-operating interest in the exploration Block 23 in the Kwanza Basin.
Afentra has a 34% carried interest in the Odewayne Block onshore southwestern
Somaliland.

 

Inside Information

This announcement contains inside information for the purposes of article 7 of
Regulation 2014/596/EU (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018) ('UK MAR'). Upon publication of this
announcement, this inside information (as defined in UK MAR) is now considered
to be in the public domain. For the purposes of UK MAR, the person responsible
for arranging for the release of this announcement on behalf of Afentra is
Paul McDade, Chief Executive Officer.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCRAMMTMTJBBJI