REG - Egdon Resources PLC - Grant of Options

Egdon ResourcesAnnouncement

10/03/2022 07:00

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RNS Number : 2366E  Egdon Resources PLC  10 March 2022

 

            10 March 2022

EGDON RESOURCES PLC

 ("Egdon" or "the Company")

Grant of Options

Egdon Resources plc (AIM:EDR) announces that as part of a periodic incentive
review and also to compensate salary reductions taken between March 2020 and
December 2022, it has granted options to the following Directors and cancelled
all existing options awards.

 Director       Number of Options granted  Exercise Price (pence)  Vesting Date  Exercisable Until

 Mark Abbott    4,444,444                  2.25p                   8 March 2023  7 March 2033
 Martin Durham  3,555,556                  2.25p                   8 March 2023  7 March 2033

The options were set at an exercise price of 2.25p being the average closing
mid-price on 7 March 2022

Following the grant of the options on 8 March 2022, the interests of the
Directors in the share capital of the Company are as follows:

 Director       Total number of Options held over Ordinary Shares  Total number of Warrants held over Ordinary Shares  Number of Ordinary Shares held
 Mark Abbott    4,444,444                                          800,000                                             9,689,387
 Martin Durham  3,555,556                                          100,000                                             200,000

 

In addition, the Company has granted options to employees on the same basis as
Directors.  The total number of options granted to Directors and employees of
the Company is 17,500,000 (Representing 3.39 % of the Company's issued share
capital).

 

The total number of options granted to Directors and employees of the Company
that were cancelled was 9,675,122 (Representing 1.87 % of the Company's issued
share capital).

 

The information set out below is in accordance with the requirements of
Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 

 

 

 

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                            Mark Abbott
 2.  Reason for the notification
 a)  Position / status                                               Managing Director
 b)  Initial notification / amendment                                Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                            Egdon Resources plc
 b)  LEI                                                             213800WWGH4S9GYSPL77
 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 1 pence per share value
     Identification code                                             GB00B28YML29
 b)  Nature of the transaction                                       Grant of Options
 c)  Price(s) and volume(s)                                         Price(s)                      Volume(s)
      2.25 pence                                                                                   4,444,444
 d)  Aggregated information
     - Aggregated volume                                             4,444,444 Ordinary Shares of 1 pence per share value
     - Price(11)                                                     2.25 pence per share
 e)  Date of the transaction                                         8 March 2022
 f)  Place of the transaction                                        Outside a trading venue

 

 

 

 

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                          Martin Durham
 2.  Reason for the notification
 a)  Position / status                                             Technical Director
 b)  Initial notification / amendment                              Initial Notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                          Egdon Resources plc
 b)  LEI                                                           213800WWGH4S9GYSPL77
 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 1 pence per share value
     Identification code                                           GB00B28YML29
 b)  Nature of the transaction                                      Grant of Options
 c)  Price(s) and volume(s)                                       Price(s)                      Volume(s)
      2.25 pence                                                                                3,555,556
 d)  Aggregated information
     - Aggregated volume                                           3,555,556 Ordinary Shares of 1 pence per share value
     - Price(11)                                                   2.25 pence per share
 e)  Date of the transaction                                       8 March 2022
 f)  Place of the transaction                                      Outside a trading venue

 

 

 

 

 1.            Details of the person discharging managerial responsibilities/person closely
               associated
 a)            Name                                                            Mark Abbott
 2.            Reason for the notification
 a)            Position / status                                               Managing Director
 b)            Initial notification / amendment                                Cancellation of options
 3.            Details of the issuer, emission allowance market participant, auction
               platform, auctioneer or auction monitor
 a)            Name                                                            Egdon Resources plc
 b)            LEI                                                             213800WWGH4S9GYSPL77
 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 1 pence per share value
               Identification code                                             GB00B28YML29
 b)            Nature of the transaction                                      Cancellation of options
 c)                                                                           Price(s)                      Volume(s)

 Price(s) and volume(s)
               10.00 pence                                                     600,000
               20.62 pence                                                    363,725
                9.70 pence                                                    979,381
               7.85 pence                                                     1,210,191
 d)            Aggregated information
               - Aggregated volume                                             3,153,297 Ordinary Shares of 1 pence per share value
               - Price(11)                                                     10.31 pence per share
 e)            Date of the transaction                                         8 March 2022
 f)            Place of the transaction                                        Outside a trading venue

 

 

 

 

 1.            Details of the person discharging managerial responsibilities/person closely
               associated
 a)            Name                                                          Martin Durham
 2.            Reason for the notification
 a)            Position / status                                             Technical Director
 b)            Initial notification / amendment                              Cancellation of options
 3.            Details of the issuer, emission allowance market participant, auction
               platform, auctioneer or auction monitor
 a)            Name                                                          Egdon Resources plc
 b)            LEI                                                           213800WWGH4S9GYSPL77
 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 1 pence per share value
               Identification code                                           GB00B28YML29
 b)            Nature of the transaction                                     Cancellation of options
 c)                                                                         Price(s)                      Volume(s)

 Price(s) and volume(s)
               22.75 pence                                                  659,341
               9.70 pence                                                   773,196
               7.85 pence                                                   955,414
 d)            Aggregated information
               - Aggregated volume                                           2,387,951 Ordinary Shares of 1 pence per share value
               - Price(11)                                                  12.56 pence per share
 e)            Date of the transaction                                       8 March 2022
 f)            Place of the transaction                                      Outside a trading venue

 

 

 

 

 

 

For further information please contact:

Egdon Resources plc

Mark Abbott, Martin
Durham
01256 702 292

 

Buchanan

Ben Romney, Jon
Krinks
020 7466 5000

 

Nominated Adviser & Joint Broker - WH Ireland
Limited

Chris Hardie, Megan
Liddell
020 7220 1666

 

Joint Broker & Financial Advisors - VSA Capital Limited

Andrew Monk (Corporate
Broking)                                         020
3005 5000

Andrew Raca (Corporate Finance)

 

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 ("MAR"). Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain.

Notes to Editors:

Egdon Resources plc (LSE: EDR) is an established exploration and production
company focused on the hydrocarbon-producing basins of the onshore UK.

Egdon holds interests in 39 licences in the UK and has an active programme of
exploration, appraisal and development within its portfolio of oil and gas
assets.  Egdon is an approved operator in the UK.  Egdon was formed in 1997
and listed on AIM in December 2004.

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 ("MAR"). Upon the publication of this announcement via
Regulatory Information Service ("RIS"), this inside information is now
considered to be in the public domain

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