REG - Deltic Energy PLC - Grant of Share Options

Deltic EnergyAnnouncement

23/09/2021 07:00

RNS Number : 6727M
  
Deltic Energy PLC
  
23 September 2021
  
 

23 September 2021
 
Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources
 
Deltic Energy Plc ("Deltic" or the "Company")
 
Grant of share options 
Notification of transactions by directors/persons discharging managerial responsibilities
 
Deltic Energy Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern North Sea, announces that the Company has granted options over a total of 34,000,000 ordinary shares in the Company ("Ordinary Shares") to its Directors, senior management and employees (the "Options"). The Options have been granted at an exercise price of 2.05 pence each, being the closing mid-market price of an Ordinary Share on 22 September 2021, the latest practicable date prior to this announcement.
 
The Options have been granted as a mixture of qualifying and non-qualifying options pursuant to the Company's Enterprise Management Incentives Plan and are subject to certain share price performance criteria as detailed below.
 
The Options may vest in three equal tranches over three years, subject to meeting certain share price performance criteria and are exercisable, to the extent vested, until 10 years from the date of grant. The first tranche of one third of the Options may vest after one year from the date of grant, subject to the Company's share price increasing by at least 25% over the exercise price and remaining at or above that level for at least 30 consecutive days. The second tranche of one third of the Options may vest after two years, subject to the Company's share price increasing by at least 50% over the exercise price and remaining at or above that level for at least 30 consecutive days. The third and final tranche may vest after three years, subject to the Company's share price increasing by at least 75% over the exercise price and remaining at or above that level for at least 30 consecutive days. The earliest the Options may be exercised is three years following the date of grant.
 
Directors and Senior Management
The following Options have been granted to Deltic's Directors and Senior Management:
 



Name


Position


Number of Options granted
 


Total options held following grant




Graham Swindells


Chief Executive


10,000,000


48,654,096




Andrew Nunn


Chief Operating Officer


10,000,000


48,654,096




Sarah McLeod


Chief Financial Officer


5,000,000


10,032,258



 
Other Senior Staff and Employees
A further 9,000,000 Options have been granted to certain other senior staff and employees at the same exercise price of 2.05 pence per Ordinary Share.
The Options awarded today are equivalent to 2.4% of the Company's current issued share capital. In total, 128,840,450 options over ordinary shares in the Company are now outstanding, representing approximately 9.2% of the Company's current issued share capital. The total number of Ordinary Shares currently in issue is 1,405,964,855.  The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below.
 
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


Graham Swindells




2.               


Reason for the Notification




a)


Position/status


Chief Executive




b)


Initial notification/Amendment





Initial notification








3.    


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Deltic Energy Plc




b)


LEI


213800TS8K1D27AFP275




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


 



Grant of options over ordinary shares of 0.5p








Identification code


ISIN: GB00B6SYKF01




b)


Nature of the transaction





Grant of Options








c)


Price(s) and volume(s)





Price(s)


Volume(s)




Exercise price 2.05 pence per share


10,000,000








d)


Aggregated information:
·Aggregated volume
·Price


n/a




e)


Date of the transaction


22 September 2021




f)


Place of the transaction


Outside a trading venue



 
 
 



1.               


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Andrew Nunn




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


Deltic Energy Plc




b)


LEI


213800TS8K1D27AFP275




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


 



Grant of options over ordinary shares of 0.5p








Identification code


ISIN: GB00B6SYKF01




b)


Nature of the transaction





Grant of Options








c)


Price(s) and volume(s)





Price(s)


Volume(s)




Exercise price 2.05 pence per share


10,000,000








d)


Aggregated information:
·Aggregated volume
·Price


n/a




e)


Date of the transaction


22 September 2021




f)


Place of the transaction


Outside a trading venue



 
 



1.               


Details of the person discharging managerial responsibilities / person closely associated




a)


Name


Sarah McLeod




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


Deltic Energy Plc




b)


LEI


213800TS8K1D27AFP275




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


 



Grant of options over ordinary shares of 0.5p








Identification code


ISIN: GB00B6SYKF01




b)


Nature of the transaction





Grant of Options








c)


Price(s) and volume(s)





Price(s)


Volume(s)




Exercise price 2.05 pence per share


5,000,000








d)


Aggregated information:
·Aggregated volume
·Price


n/a




e)


Date of the transaction


22 September 2021




f)


Place of the transaction


Outside a trading venue



 
 
**ENDS**
 
 
For further information please contact the following: 



Deltic Energy Plc                                  


Tel: +44 (0) 20 7887 2630  




Graham Swindells / Andrew Nunn / Sarah McLeod           








 
Allenby Capital Limited (Nominated Adviser & Joint Broker)                                               


   
Tel: +44 (0) 20 3328 5656




David Hart / Alex Brearley (Corporate Finance)








Kelly Gardiner (Sales and Corporate Broking)








 
Stifel Nicolaus Europe Limited (Joint Broker)                                                 


   
Tel: +44 (0) 20 7710 7600




Callum Stewart / Simon Mensley / Ashton Clanfield


















Vigo Consulting (IR & PR Adviser)                                         


Tel: +44 (0) 20 7390 0230




Patrick d'Ancona / Chris McMahon / Oliver Clark







 
Notes to Editors
Deltic has created a strategically located portfolio of high-quality gas exploration licences in the Southern North Sea over several licensing rounds.  These licences are located in areas that have been underexplored despite significant discoveries such as Tolmount, Breagh, Pegasus and Cygnus, most of which have gone on to be developed and could provide ready access to export infrastructure for future developments on Deltic's licence acreage.
 
 
 
 

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