REG - Coro Energy PLC - Award of Share Options and Director/PDMR Dealing

Coro EnergyAnnouncement

09/02/2023 07:00

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RNS Number : 3772P  Coro Energy PLC  09 February 2023

9 February 2023

 

Coro Energy Plc

("Coro" or the "Company" and together with its subsidiaries the "Group")

 

Issue of Share Options

 

Coro Energy PLC, the South East Asian energy company with a natural gas and
clean energy portfolio, announces the 2023 award of share options to employees
of the Company.

 

On 8 February 2023, the Company granted an aggregate of 70,000,000 options
over new ordinary shares in the Company to certain Coro employees (the
"Options"). The Options will vest on the third anniversary of grant on 9
February 2026, subject to the achievement of performance criteria and are
exercisable at a price of 0.255p per new ordinary share at any time until 9
February 2028. 35,000,000 of the Options have been awarded to the Company's
Executive Chairman, James Parsons and the notification below, provided in
accordance with the Market Abuse Regulation, provides further details.

The performance vesting criteria for the Options is a final investment
decision being taken by the partners to the Duyung PSC or the successful sale
of Coro's interest in the Duyung PSC. Both of these performance vesting
criteria are consistent with the Company's strategy. The performance period is
three years, commencing in the current financial year of the Company (i.e. a
measurement period of 8 February 2023 to 9 February 2026).  The Remuneration
Committee believes that the Company's option awards continues to be an
important tool for aligning the interests of the Coro's Executive Management
Team with those of shareholders. Should the performance criteria not be met
as it is no longer relevant, the Remuneration Committee may permit Options to
vest if it deems it appropriate to do so.

For further information please contact:

 Coro Energy plc                            Via Vigo Consulting Ltd

 James Parsons, Executive Chairman

 Ewen Ainsworth, Chief Financial Officer

 Cenkos Securities plc (Nominated Adviser)  Tel: 44 (0)20 7397 8900

 Ben Jeynes

 Katy Birkin

 Vigo Consulting (IR/PR Advisor)            Tel: 44 (0)20 7390 0230

 Patrick d'Ancona

 Charlie Neish

 WH Ireland (Broker)                          Tel: 44 (0)20 7220 1670 / 44 (0)113 946 618

 Harry Ansell

 Katy Mitchell

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                                                James Parsons
 2   Reason for the notification
 a)  Position/status

                                                                                        PDMR (Executive Chairman)
 b)  Initial notification/Amendment                                                     Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Coro Energy plc
 b)  LEI                                                          2138004JXMD9YXLMKS49
 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  Ordinary shares of 0.1p each
     Identification code                                          GB00BDCFP425
 b)  Nature of the transaction                                    Award of options
 c)  Price(s) and volumes(s)                                      Price(s)                                    Volume(s)
                                                                  nil                                         35,000,000
 d)  Aggregated information                                       N/A
     Aggregated volume                                            N/A
     Price                                                        nil
 e)  Date of the transaction                                      8 February 2023
 f)  Place of the transaction                                     Outside of a trading venue

 

 

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