Grant of Share Options

Jersey Oil and Gas

17/03/2025 07:00

RNS Number : 8662A

Jersey Oil and Gas PLC

17 March 2025

 

17 March 2025

 

Jersey Oil and Gas plc

("Jersey Oil & Gas" or the "Company")

 

Grant of Share Options

 

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf ("UKCS") region of the North Sea, announces that it has granted options over, in aggregate, 775,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to its directors, senior management and employees at an exercise price of 82.5 pence per Ordinary Share (the "Options"), being the middle market closing price on 14 March 2025, the latest practicable date prior to this announcement.

 

Accordingly, a total of 4,077,501 option awards are outstanding following these latest grants, which represents approximately 12.5 per cent. of the Company's existing issued share capital of 32,667,627 Ordinary Shares.

 

Executive Directors

The following new Options have been granted to Company's Executive Directors/Officers:

Name
Position
Number of New Options Granted
Exercise Price Per Ordinary Share (pence)
Exercise Period
Total Options Held Following This Grant
Andrew Benitz
Chief Executive Officer
225,000
82.5
7 years
845,000
Graham Forbes
Chief Financial Officer
130,000
82.5
7 years
730,000
Richard Smith
Chief Commercial Officer
130,000
82.5
7 years
730,000

 

The new Options set out in the table above all vest in three equal tranches (one, two and three years from the date of grant) and are subject to the satisfaction of certain performance conditions to be determined and interpreted at the discretion of the Company's Remuneration Committee. Subject to vesting and such performance conditions being met, the new Options are exercisable for up to seven years from their date of grant and will lapse if not exercised by such date.

 

Non-Executive Directors

The following new Options have been granted to Non-Executive Directors of the Company:

 

Name
Position
Number of New Options Granted
Exercise Price Per Ordinary Share (pence)
Exercise Period
Total Options Held Following This Grant
Les Thomas
Non-Executive Chairman
55,000
82.5
5 years
175,000
Frank Moxon
Senior Independent Non-Executive Director
35,000
82.5
5 years
100,000

 

The new Options set out in the table above all vest in three equal tranches (one, two and three years from the date of grant) and have no performance conditions.  Subject to vesting, the new Options are exercisable for up to five years from their date of grant and will lapse if not exercised by such date.

 

Senior Management and Employees

A further 200,000 new Options, in aggregate, have been granted to certain other members of senior management and employees at the same exercise price of 82.5 pence per Ordinary Share.  These options vest in the same manner as those awarded to the Executive Directors/Officers of the Company.

 

 

Enquiries:

Jersey Oil and Gas plc
Andrew Benitz, CEO
C/o Camarco:
Tel: 020 3757 4980
Strand Hanson Limited
James Harris
Matthew Chandler
James Bellman
Tel: 020 7409 3494
Zeus Capital Limited
Simon Johnson
Tel: 020 3829 5000
Cavendish Capital Markets Limited
Neil McDonald
Tel: 020 7220 0500
Camarco
Billy Clegg
Rebecca Waterworth
Tel: 020 3757 4980

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 ("MAR") as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

PDMR Notification Forms:

 

The notifications below are made in accordance with the requirements of MAR.

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Andrew Benitz
2.
Reason for the Notification
a)
Position/status
Chief Executive Officer (Director)
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Jersey Oil & Gas plc
b)
LEI
213800RIR1SZC1734G32
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 1 penny each in the Company
Identification code
GB00BYN5YK77
b)
Nature of the Transaction
Grant of Options over ordinary shares of 1 penny each in the Company
c)
Price(s) and volume(s)
Price(s) Volume(s)
82.5p 225,000
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
17 March 2025
f)
Place of the transaction
Outside of a trading venue

 

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Les Thomas
2.
Reason for the Notification
a)
Position/status
Chairman
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Jersey Oil & Gas plc
b)
LEI
213800RIR1SZC1734G32
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 1 penny each in the Company
Identification code
GB00BYN5YK77
b)
Nature of the Transaction
Grant of Options over ordinary shares of 1 penny each in the Company
c)
Price(s) and volume(s)
Price(s) Volume(s)
82.5p 55,000
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
17 March 2025
f)
Place of the transaction
Outside of a trading venue

 

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Frank Moxon
2.
Reason for the Notification
a)
Position/status
Non-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
Jersey Oil & Gas plc
b)
LEI
213800RIR1SZC1734G32
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 1 penny each in the Company
Identification code
GB00BYN5YK77
b)
Nature of the Transaction
Grant of Options over ordinary shares of 1 penny each in the Company
c)
Price(s) and volume(s)
Price(s) Volume(s)
82.5p 35,000
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
17 March 2025
f)
Place of the transaction
Outside of a trading venue

 

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Graham Forbes
2.
Reason for the Notification
a)
Position/status
Chief Financial Officer (Director)
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Jersey Oil & Gas plc
b)
LEI
213800RIR1SZC1734G32
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 1 penny each in the Company
Identification code
GB00BYN5YK77
b)
Nature of the Transaction
Grant of Options over ordinary shares of 1 penny each in the Company
c)
Price(s) and volume(s)
Price(s) Volume(s)
82.5p 130,000
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
17 March 2025
f)
Place of the transaction
Outside of a trading venue

 

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Smith
2.
Reason for the Notification
a)
Position/status
Chief Commercial Officer
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Jersey Oil & Gas plc
b)
LEI
213800RIR1SZC1734G32
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 1 penny each in the Company
Identification code
GB00BYN5YK77
b)
Nature of the Transaction
Grant of Options over ordinary shares of 1 penny each in the Company
c)
Price(s) and volume(s)
Price(s) Volume(s)
82.5p 130,000
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
17 March 2025
f)
Place of the transaction
Outside of a trading venue

 

 

 

 

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