REG - Angus Energy PLC - Finalisation of Management Changes & Options issue

Angus EnergyAnnouncement

19/04/2023 07:00

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RNS Number : 6654W  Angus Energy PLC  19 April 2023

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 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

19 April 2023

 

Angus Energy Plc

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

(AIM:ANGS)

 

 

Finalisation of Management Changes and Issue of Options

 

Further to the announcement of 2 March 2023 and Angus's vision of becoming a
significant player in the aggregation, production and storage of gas, the
Company is pleased to finalise the appointment of Richard Herbert as Chief
Executive Director, George Lucan as Executive Chairman and Patrick Clanwilliam
as Non-Executive Director.

 

The Company is also pleased to announce the appointment of Tim Kaye as
(non-board) Director of UK Operations. Tim has worked with Angus since
September 2022, leading the project to install and commission the second gas
compressor at Saltfleetby, which is now operating. He brings extensive
operations experience from the North Sea, both with BP and Enquest.

 

Issue of Options

 

The Company has also agreed the grant of 103 million share options,
representing 2.87% of the Company's issued share capital, under the Company's
existing Employee Incentive Schemes (the "Options") to Directors and other
members of staff.

 

The share options to be granted were proposed by the remuneration committee
and approved by the Board as part of the Company's annual share option grants;
the most recent grant of which was on 24 October 2022. The conditional share
options are as follows:

 

Richard Herbert*            70,000,000

Other employees            33,000,000

 

*Director of the Company

 

The share options have an exercise price of 1.8 pence per share (being a
premium of 7% to the closing price on 18 April 2023) (the "Exercise Price")
and vest as to 100 per cent., upon the closing mid-market price of the
Ordinary Shares being 3 pence or above (being 66 per cent. above the Exercise
Price). The options have a 10 year term from the date of issue. The total
award to Directors represents 1.95% of the Company's issued share capital.

 

Following the grant of the share options outlined above, the total share
options outstanding will be 345,100,892 representing approximately 9.61% of
the 3,590,393,701 ordinary shares in issue.

 

 

END

 

For further information on the Company, please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk/) or contact:

 

Enquiries:

 

Angus Energy
Plc
www.angusenergy.co.uk (http://www.angusenergy.co.uk/)

 

George
Lucan
Tel: +44 (0) 208 899 6380

 

Beaumont Cornish Limited (Nomad)      www.beaumontcornish.com
(http://www.beaumontcornish.com/)

 

James Biddle / Roland Cornish                     Tel: +44
(0) 207 628 3396

 

WH Ireland Limited (Broker)

 

Katy Mitchell / Harry Ansell
Tel: +44 (0) 207 220 1666

 

Flagstaff
PR/IR
angus@flagstaffcomms.com (mailto:angus@flagstaffcomms.com)

 

Tim Thompson / Fergus Mellon                 Tel: +44 (0) 207
129 1474

 

Aleph
Commodities
info@alephcommodities.com (mailto:info@alephcommodities.com)

 

 

Disclaimers - this Announcement includes statements that are, or may be deemed
to be, "forward- looking statements". These forward-looking statements can be
identified by the use of forward- looking terminology, including the terms
"believes", "estimates", "forecasts", "plans", "prepares",

"anticipates", "projects", "expects", "intends", "may", "will", "seeks",
"should" or, in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives, goals, future
events or intentions. These forward-looking statements include all matters
that are not historical facts. They appear in a number of places throughout
this Announcement and include statements regarding the Company's and the
Directors' intentions, beliefs or current expectations concerning, amongst
other things, the Company's prospects, growth and strategy. By their nature,
forward-looking statements involve risks and uncertainties because they relate
to events and depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
Company's actual performance, achievements and financial condition may differ
materially from those expressed or implied by the forward-looking statements
in this Announcement. In addition, even if the Company's results of
operations, performance, achievements and financial condition are consistent
with the forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in subsequent
periods. Any forward-looking statements that the Company makes in this
Announcement speak only as of the date of such statement and (other than in
accordance with their legal or regulatory obligations) neither the Company,
nor the Bookrunner nor Beaumont Cornish nor any of their respective
associates, directors, officers or advisers shall be obliged to update such
statements. Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future performance,
unless expressed as such, and should only be viewed as historical data.

 

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

 

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