REG - Eco (Atlantic) O&G - Company's Incentive Plan - Grant of RSUs
16/05/2022 16:15
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RNS Number : 6666L Eco (Atlantic) Oil and Gas Ltd. 16 May 2022
16 May 2022
ECO (ATLANTIC) OIL & GAS LTD.
("Eco", "Eco Atlantic", the "Company", or, together with its subsidiaries, the
"Group")
Company's Incentive Plan - Grant of RSUs
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG), the oil and
gas exploration company focused on the offshore Atlantic Margins, is pleased
to announce, that the Company has granted 2,850,000 Restricted Share Units to
directors, officers and advisers, of which 2,500,000 are to existing
Executives and Directors, pursuant to the Company's Restricted Share Units
Plan (the "RSUs") and in acknowledgment of the Company's management's recent
success and increased future workload. The RSUs will vest at each recipient's
discretion and taking into account personal tax implications and convert into
2,850,000 common shares of no par value in the Company ("Common Shares") ("RSU
Shares").
In addition, the Company announces that it has granted, to directors, officers
and advisers of the Company, options to subscribe for up to 7,050,000 Common
Shares at a price of $CAD0.50 (£0.32) per Common Share (the "Options"). The
Options are exercisable for a period of 5 years from the date of issue.
Application has been made for admission of 1,800,000 of the RSU Shares, which
have now vested, which will rank pari passu with existing Common Shares, to
trading on AIM ("Admission"). It is expected that Admission will become
effective, and trading will commence at 8:00 a.m. on 23 May 2022.
Following Admission, the enlarged issued share capital of the Company will be
309,549,605 Common Shares. The above figure may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the Disclosure and Transparency Rules.
For more information, please visit www.ecooilandgas.com or contact the
following:
Eco Atlantic Oil and Gas c/o Celicourt +44 (0) 20 8434 2754
Gil Holzman, CEO
Colin Kinley, COO
Alice Carroll, Head of Marketing and IR +44(0)781 729 5070 | +1 (416) 318 8272
Strand Hanson Limited (Financial & Nominated Adviser)
+44 (0) 20 7409 3494
James Harris
James Bellman
Berenberg (Broker) +44 (0) 20 3207 7800
Emily Morris
Detlir Elezi
Celicourt (PR) +44 (0) 20 8434 2754
Mark Antelme
Jimmy Lea
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 United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018 (as amended).
Notes to editors:
About Eco Atlantic:
Eco Atlantic is a TSX-Venture Exchange and AIM quoted Atlantic margin focused
Oil & Gas Exploration Company with offshore license interests in Guyana,
Namibia, and South Africa. Eco aims to deliver material value for its
stakeholders through its role in the energy transition to explore for low
carbon consuming oil and gas in stable emerging markets near to
infrastructure.
Offshore Guyana in the proven Suriname-Guyana Basin, the Company holds a 15%
Working Interest in the 1,800 km(2) Orinduik Block Operated by Tullow Oil,
and also indirectly through a soon to be 7.3% shareholding in JHI Associates
Inc. a private company which holds a 17.5% working interest in the
4,800km(2) Canje Block Operated by ExxonMobil. In Namibia, the Company
holds Operatorship and 85% Working Interests in four offshore Petroleum
Licences: PEL's: 97, 98, 99 and 100 totalling 28,593 km(2) in the Walvis
Basin.
Offshore South Africa, Eco will, subject to completion of its acquisition of
Azinam Group Limited, become designated Operator and hold a 50% working
interest in Block 2B, and a 20% Working Interest of Blocks 3B/4B, totalling
some 20,643 km(2).
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014.
PDMR Notification Forms
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Moshe Peterburg
2. Reason for the Notification
a) Position/status Non-Executive Chairman of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Issue of common shares of no par value in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 250,000 common shares pursuant to the conversion of the RSUs
1,000,000 options over common shares
d) Aggregated information 1,250,000 common shares pursuant to the conversion of the RSUs and options
over common shares
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
1,250,000 common shares pursuant to the conversion of the RSUs and options
over common shares
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gil Holzman
2. Reason for the Notification
a) Position/status President, CEO and Director of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Issue of common shares of no par value in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 700,000 common shares pursuant to the conversion of the RSUs
1,500,000 options over common shares
d) Aggregated information 2,200,000 common shares pursuant to the conversion of the RSUs and options
over common shares
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
2,200,000 common shares pursuant to the conversion of the RSUs and options
over common shares
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Colin Kinley
2. Reason for the Notification
a) Position/status Director of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Issue of common shares of no par value in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 700,000 common shares pursuant to the conversion of the RSUs
1,500,000 options over common shares
d) Aggregated information 2,200,000 common shares pursuant to the conversion of the RSUs and options
over common shares
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
2,200,000 common shares pursuant to the conversion of the RSUs and options
over common shares
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gadi Levin
2. Reason for the Notification
a) Position/status Director of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Issue of common shares of no par value in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 175,000 common shares pursuant to the conversion of the RSUs
400,000 options over common shares
d) Aggregated information 575,000 common shares pursuant to the conversion of the RSUs and options over
common shares
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
575,000 common shares pursuant to the conversion of the RSUs and options over
common shares
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Keith Hill
2. Reason for the Notification
a) Position/status Director of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Issue of common shares of no par value in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 250,000 common shares pursuant to the conversion of the RSUs
750,000 options over common shares
d) Aggregated information 1,000,000 common shares pursuant to the conversion of the RSUs and options
over common shares
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
1,000,000 common shares pursuant to the conversion of the RSUs and options
over common shares
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alan Friedman
2. Reason for the Notification
a) Position/status Non-Executive Chairman of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 200,000 options over common shares
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Peter Nicol
2. Reason for the Notification
a) Position/status Non-Executive Chairman of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 400,000 options over common shares
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Helmut Angula
2. Reason for the Notification
a) Position/status Non-Executive Chairman of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Options to acquire common shares of no par value in the Company exercisable
for a period of 1 year
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 200,000 options over common shares
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alice Caroll
2. Reason for the Notification
a) Position/status Executive of the Company and PDMR
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name ECO (ATLANTIC) OIL & GAS LTD.
b) LEI 213800WPR7ASTDWQUW50
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 Issue of common shares of no par value in the Company pursuant to the vesting
of restricted share units (RSUs)
Identification code CA27887W1005
b) Nature of the Transaction Receipt of Common Shares
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 175,000 common shares pursuant to the conversion of the RSUs
300,000 options over common shares
d) Aggregated information 475,000 common shares pursuant to the conversion of the RSUs and options over
common shares
Aggregated volume Price
e) Date of the transaction 16 May 2022
f) Place of the transaction N/A
d)
Aggregated information
Aggregated volume Price
475,000 common shares pursuant to the conversion of the RSUs and options over
common shares
e)
Date of the transaction
16 May 2022
f)
Place of the transaction
N/A
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