REG - Hurricane Energy PLC - Director/PDMR Shareholdings

Hurricane EnergyAnnouncement

29/04/2020 15:25

RNS Number : 3705L
  
Hurricane Energy PLC
  
29 April 2020
  
 

29 April 2020
Hurricane Energy plc
 
("Hurricane" or the "Company")
 
Director/PDMR Shareholdings
 
Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has been notified of transactions by Hurricane directors and Persons Discharging Managerial Responsibility ("PDMRs") in ordinary shares of £0.001 each in the Company ("Ordinary Shares"). 
 
A summary of the transactions follows:
 




Name


Position


Ordinary Shares Purchased


Average Price Paid per Ordinary Share




Steven McTiernan


Chairman


100,000


10.8300p




Dr David Jenkins


Non-Executive Director


50,000


10.4000p




John van der Welle


Non-Executive Director


50,000


10.2839p




Sandra Shaw 


Non-Executive Director


44,297


11.2869p




Daniel Jankes


General Counsel


44,297


11.2869p




Richard Chaffe


Acting Chief Financial Officer


44,297


11.2869p




Melissa Clare


General Manager (Aberdeen)


44,297


11.2869p




Moira Slightam


Subsurface Technical Director


44,297


11.2869p




 
 
The below information is intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).
 




1.


Details of the person discharging managerial responsibilities




a)


Name:


a)   Steven McTiernan
b)   Dr David Jenkins
c)   John van der Welle
d)   Sandra Shaw
e)   Daniel Jankes
f)    Richard Chaffe
g)   Melissa Clare
h)   Moira Slightam




2.


Reason for the notification




a)


Position/status:


a)   Chairman
b)   Non-Executive Director
c)   Non-Executive Director
d)   Non-Executive Director
e)   General Counsel
f)    Acting Chief Financial Officer
g)   General Manager (Aberdeen)
h)   Subsurface 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


Hurricane Energy plc




b)


LEI:


2138007Z66OO4XWKM819




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:
Identification code:


Ordinary shares of 0.1p each in Hurricane Energy plc ("Shares")
ISIN: GB00B580MF54




b)


Nature of the transaction:


Open market purchase of Shares.




c)


Price(s) and volume(s):


 




Price(s)


Volume(s)




a)      10.8300p
b)      10.4000p
c)      10.2839p
d)      11.2869p
e)      11.2869p
f)      11.2869p
g)      11.2869p
h)      11.2869p


a)   100,000
b)   50,000
c)   50,000
d)   44,297
e)   44,297
f)    44,297
g)   44,297
h)   44,297




 




d)


Aggregated information:


See above 4 c)




e)


Date of the transaction:


(a)/(b)/(c): 28 April 2020
(d)/(e)/(f)/(g)/(h): 29 April 2020




f)


Place of the transaction:


London Stock Exchange (AIM)




 
 
Contacts: 
 




Hurricane Energy plc
Dr Robert Trice, Chief Executive Officer
 


+44 (0)1483 862 820




Stifel Nicolaus Europe Limited 
Nominated Adviser & Joint Corporate Broker
Callum Stewart / Ashton Clanfield
 


+44 (0)20 7710 7600




Morgan Stanley & Co. International plc
Joint Corporate Broker
Andrew Foster / Tom Perry / Alex Smart
 


+44 (0)20 7425 8000




Vigo Communications 
Public Relations
Patrick d'Ancona / Ben Simons
hurricane@vigocomms.com


+44 (0)20 7390 0230




 
About Hurricane
 
Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf. 
The Lancaster field (100% owned by Hurricane) is the UK's first producing basement field. Hurricane is pursuing a phased development of Lancaster, starting with an Early Production System consisting of two wells tied-back to the Aoka Mizu FPSO. Hydrocarbons were introduced to the FPSO system on 11 May 2019 and the first oil milestone was achieved on 4 June 2019. 
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln and Warwick assets, committing to a phased work programme targeting sanction of an initial stage of full field development.
Glossary




FPSO


Floating production storage and offloading vessel




Spirit Energy


Spirit Energy Limited




 


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