REG - Europa Oil & Gas - Award of Options

Europa Oil & Gas (Holdings)Announcement

23/03/2023 07:15

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RNS Number : 9227T  Europa Oil & Gas (Holdings) PLC  23 March 2023

 

Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil
& Gas

 

23 March 2023

 

Europa Oil & Gas (Holdings) plc

("Europa" or the "Company")

 

Award of Options

 

Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil
and gas exploration, development, and production company, announces that
the Board of Directors has agreed to issue options over a total of 6,520,000
ordinary shares of 1 penny each in the capital of the Company (the "Share
Options") to William Holland and certain employees of the Company, under
Europa's existing Enterprise Management Incentive (EMI) Share Option Plan.
Grants were determined by a mix of salary percentage and fixed amounts.

 

The Share Options, which have an exercise price of 1.1418 1  (#_ftn1) pence
per Ordinary Share, shall vest in three equal tranches after each of 12, 24
and 36 months and are valid until 22 March 2029.  Exercise of the Share
Options is conditional on the closing average mid-market price of an Ordinary
Share exceeding the exercise price by two times for 30 consecutive trading
days.

 

The details of the Share Options to be granted are set out below:

 

 Option Holder    Number of Share Options Issued
 William Holland  4,000,000
 Other employees  2,520,000

 

The notification below, made in accordance with the requirements of UK Market
Abuse Regulation, provides further details.

 

* * ENDS * *

For further information, please visit www.europaoil.com
(http://www.europaoil.com/)  or contact:

 William Holland / Murray Johnson                  Europa Oil & Gas (Holdings) plc                            mail@europaoil.com
 James Dance / James Spinney                       Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494
 Peter Krens                                       Tennyson Securities                                        +44 (0) 20 7186 9033
 Patrick d'Ancona / Finlay Thomson / Kendall Hill  Vigo Consulting                                            + 44 (0) 20 7390 0230

 

Notes to Editors

Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage
hydrocarbon assets which includes production, development and exploration
interests, in countries that are politically stable, have transparent
licensing processes, and offer attractive terms. Production for the year
ending 31 July 2022 was 245 bopd. In April 2022, Europa farmed into P.2358,
Block 13/23c ("Serenity") in the Outer Moray Firth area of the North Sea. The
licence contains the 2019 Serenity oil discovery, in which Europa now has a
25% interest. The Company holds one exploration licence offshore Ireland,
which has the potential to host gross mean un-risked prospective resources of
1.5 trillion cubic feet ("tcf") gas. Inishkea is a near field gas prospect in
the Slyne Basin which the Company classifies as lower risk due to its close
proximity to the producing Corrib gas field and associated gas processing
infrastructure.

 

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                                                         William Holland
 2.                                Reason for the Notification
 a)                                Position/status                                              Chief Executive Officer and Executive Director
 b)                                Initial notification/Amendment                               Initial notification
 3.                                Details of the issuer, emission allowance market participant, auction
                                   platform, auctioneer or auction monitor
 a)                                Name                                                         Europa Oil & Gas (Holdings) plc
 b)                                LEI                                                          213800JWTCW7TN3WRC06
 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 over Ordinary Shares of 1p each
                                   Identification code                                          GB00B03CJS30
 b)                                Nature of the transaction                                    Grant of Options
 c)                                Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                                                1.1418p   4,000,000
 d)                                Aggregated information:                                      N/A, single transaction

                                   ·    Aggregated volume

                                   ·    Price
 e)                                Date of the transaction                                      22 March 2023
 f)                                Place of the transaction                                     Outside of a trading venue

d)

Aggregated information:

·    Aggregated volume

·    Price

N/A, single transaction

e)

Date of the transaction

22 March 2023

f)

Place of the transaction

Outside of a trading venue

 

 1  (#_ftnref1) Equates to the 5-day volume weighted average share price
established at close of business on the day that the options were awarded,
22(nd) March 2023

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