REG - Sintana Energy Inc Challenger Energy - Form 8 (OPD) (Challenger Energy Group plc)
23/10/2025 15:00
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RNS Number : 6268E Sintana Energy Inc 23 October 2025
FORM 8 (OPD)
PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER
Rules 8.1 and 8.2 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: Sintana Energy Inc.
(b) Owner or controller of interests and short positions disclosed, if N/A
different from 1(a):
The naming of nominee or vehicle companies is insufficient. For a
trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form Sintana Energy Inc.
relates:
Use a separate form for each offeror/offeree
(d) Is the discloser the offeror or the offeree? OFFEROR
(e) Date position held: 22 October 2025
The latest practicable date prior to the disclosure
(f) In addition to the company in 1(c) above, is the discloser making Yes
disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one
class of relevant securities of the offeror or offeree named in 1(c), copy
table 2(a) or (b) (as appropriate) for each additional class of relevant
security.
(a) Interests and short positions in the relevant securities of
the offeror or offeree to which the disclosure relates
Class of relevant security: No Par Value Common Shares
Interests Short positions
Number % Number %
(1) Relevant securities owned and/or controlled: nil 0 nil 0
(2) Cash-settled derivatives: nil 0 nil 0
(3) Stock-settled derivatives (including options) and agreements to nil 0 nil 0
purchase/sell:
nil 0 nil 0
TOTAL:
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded
options), or agreements to purchase or sell relevant securities, should be
given on a Supplemental Form 8 (Open Positions).
Details of any securities borrowing and lending positions or financial
collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).
(b) Rights to subscribe for new securities
Class of relevant security in relation to which subscription right exists: N/A
Details, including nature of the rights concerned and relevant percentages: N/A
3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO
THE OFFER MAKING THE DISCLOSURE
Details of any interests, short positions and rights to subscribe (including
directors' and other employee options) of any person acting in concert with
the party to the offer making the disclosure:
(a) Interests held by the directors of Sintana Energy Inc, their close
relatives and related trusts:
Name Job Title Common Shares % of ISC((1))
Keith Spickelmier Executive Chairman 5,325,001 1.40%
Robert Bose CEO 23,205,412 6.10%
Douglas Manner President 4,375,000 1.15%
Dean Paul Gendron Independent Director 1,540,000 0.41%
Knowledge Raymond Katti Independent Director 22,490,001 5.92%
Bruno Maruzzo Independent Director 2,072,368 0.55%
(1) Percentages have been given to two decimal places and are calculated on
the basis of Sintana Energy, Inc having 380,125,545 ordinary shares in issue
(b) Options and awards granted under Sintana's plans held by the directors
of Sintana:
Grant Date Number of Shares Exercise Price (CAD) Expiry Date
Keith Spickelmier NSOs 18/12/2020 300,000 0.100 18/12/2025
(Executive Chairman)
24/03/2022 1,000,000 0.165 24/03/2027
16/12/2022 800,000 0.110 16/12/2033
19/12/2023 650,000 0.270 19/12/2033
RSUs 13/12/2024 800,000 Market 13/12/2024
27/06/2025 600,000 Market 27/06/2026
Robert Bose NSOs 24/03/2022 1,000,000 0.165 24/03/2027
(CEO)
16/12/2022 800,000 0.110 16/12/2032
19/12/2023 650,000 0.270 19/12/2033
01/05/2024 600,000 1.080 01/05/2034
13/12/2024 1,300,000 1.230 13/12/1934
RSUs 27/06/2025 600,000 Market 27/05/2026
Douglas Manner NSOs 24/02/2022 1,000,000 0.165 24/03/2027
(President)
16/12/2022 800,000 0.110 16/12/1932
19/12/2023 650,000 0.270 19/12/1933
RSUs 13/12/2024 600,000 Market 13/12/2025
27/06/2025 600,000 Market 27/06/2026
Bruno Maruzzo NSOs 24/03/2022 500,000 0.165 24/03/2027
(Independent Director)
16/12/2022 400,000 0.110 16/03/2032
19/12/2023 325,000 0.270 19/12/2033
RSUs 13/12/2024 300,000 Market 13/12/2025
27/06/2025 300,000 Market 27/06/2026
Dean Gendron NSOs 24/03/2022 500,000 0.165 24/03/2027
(Independent Director)
16/12/2022 400,000 0.110 16/03/2032
19/12/2023 325,000 0.270 19/12/2033
RSUs 13/12/2024 300,000 Market 13/12/2025
27/06/2025 300,000 Market 27/06/2026
Knowledge Katti NSOs 24/03/2022 500,000 0.165 24/03/2027
(Independent Director)
16/12/2022 400,000 0.110 16/03/2032
19/12/2023 650,000 0.270 19/12/2033
01/05/2024 300,000 1.080 01/05/2034
13/12/2024 1,000,000 1.230 13/12/2034
RSUs 27/06/2025 600,000 Market 27/06/2026
NSOs Vesting Date:
- One-third vest at the date of grant;
- One-third vest one year after the date of grant; and
- One-third vest two years after the date of grant.
RSUs Vesting Date:
- One year after the date of grant
Definitions:
- NSOs: Non-qualified stock options
- RSUs: Restricted share units
(1) Percentages have been given to two decimal places and are calculated on
the basis of Sintana Energy, Inc having 380,125,545 ordinary shares in issue
(b) Options and awards granted under Sintana's plans held by the directors
of Sintana:
Grant Date Number of Shares Exercise Price (CAD) Expiry Date
Keith Spickelmier NSOs 18/12/2020 300,000 0.100 18/12/2025
(Executive Chairman)
24/03/2022 1,000,000 0.165 24/03/2027
16/12/2022 800,000 0.110 16/12/2033
19/12/2023 650,000 0.270 19/12/2033
RSUs 13/12/2024 800,000 Market 13/12/2024
27/06/2025 600,000 Market 27/06/2026
Robert Bose NSOs 24/03/2022 1,000,000 0.165 24/03/2027
(CEO)
16/12/2022 800,000 0.110 16/12/2032
19/12/2023 650,000 0.270 19/12/2033
01/05/2024 600,000 1.080 01/05/2034
13/12/2024 1,300,000 1.230 13/12/1934
RSUs 27/06/2025 600,000 Market 27/05/2026
Douglas Manner NSOs 24/02/2022 1,000,000 0.165 24/03/2027
(President)
16/12/2022 800,000 0.110 16/12/1932
19/12/2023 650,000 0.270 19/12/1933
RSUs 13/12/2024 600,000 Market 13/12/2025
27/06/2025 600,000 Market 27/06/2026
Bruno Maruzzo NSOs 24/03/2022 500,000 0.165 24/03/2027
(Independent Director)
16/12/2022 400,000 0.110 16/03/2032
19/12/2023 325,000 0.270 19/12/2033
RSUs 13/12/2024 300,000 Market 13/12/2025
27/06/2025 300,000 Market 27/06/2026
Dean Gendron NSOs 24/03/2022 500,000 0.165 24/03/2027
(Independent Director)
16/12/2022 400,000 0.110 16/03/2032
19/12/2023 325,000 0.270 19/12/2033
RSUs 13/12/2024 300,000 Market 13/12/2025
27/06/2025 300,000 Market 27/06/2026
Knowledge Katti NSOs 24/03/2022 500,000 0.165 24/03/2027
(Independent Director)
16/12/2022 400,000 0.110 16/03/2032
19/12/2023 650,000 0.270 19/12/2033
01/05/2024 300,000 1.080 01/05/2034
13/12/2024 1,000,000 1.230 13/12/2034
RSUs 27/06/2025 600,000 Market 27/06/2026
NSOs Vesting Date:
- One-third vest at the date of grant;
- One-third vest one year after the date of grant; and
- One-third vest two years after the date of grant.
RSUs Vesting Date:
- One year after the date of grant
Definitions:
- NSOs: Non-qualified stock options
- RSUs: Restricted share units
Details of any open stock-settled derivative positions (including traded
options), or agreements to purchase or sell relevant securities, should be
given on a Supplemental Form 8 (Open Positions).
Details of any securities borrowing and lending positions or financial
collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or
understanding, formal or informal, relating to relevant securities which may
be an inducement to deal or refrain from dealing entered into by the party to
the offer making the disclosure or any person acting in concert with it:
Irrevocable commitments and letters of intent should not be included. If there
are no such agreements, arrangements or understandings, state "none"
None.
(b) Agreements, arrangements or understandings relating to
options or derivatives
Details of any agreement, arrangement or understanding, formal or informal,
between the party to the offer making the disclosure, or any person acting in
concert with it, and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant
securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None.
(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) NO
Supplemental Form 8 (SBL) NO
Date of disclosure: 23 October 2025
Contact name: Sean Austin
Telephone number: 713-825-9591
Public disclosures under Rule 8 of the Code must be made to a Regulatory
Information Service.
The Panel's Market Surveillance Unit is available for consultation in relation
to the Code's disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk
(http://www.thetakeoverpanel.org.uk) .
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