REG - Jersey Oil & Gas PLC - Grant of Share Options

Jersey Oil and GasAnnouncement

03/05/2022 07:16

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RNS Number : 9802J  Jersey Oil and Gas PLC  03 May 2022

3 May 2022

 

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, on 29 April 2022, it granted options over, in aggregate,
990,000 ordinary shares of 1p each in the capital of the Company ("Ordinary
Shares") to directors, senior management and employees at an exercise price of
230 pence per Ordinary Share (the "Options"), being the middle market closing
price on 29 April 2022, the latest practicable date prior to this
announcement.

 

Accordingly, a total of 3,594,002 option awards are outstanding following
these latest grants, which represents approximately 11.0 per cent. of the
Company's existing issued share capital of 32,554,293 Ordinary Shares.

 

Executive Directors

The following new Options have been granted to Executive Directors and/or
Officers of the Company:

 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   290,000                        230                                        7 years          650,000
 Graham Forbes  Chief Financial Officer   150,000                        230                                        7 years          500,000
 Richard Smith  Chief Commercial Officer  150,000                        230                                        7 years          500,000

 

The new Options set out in the table above for Executive Directors and/or
Officer's 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
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  75,000                         230                                        5 years          75,000
 Marcus Stanton  Non-Executive Director  30,000                         230                                         5 years         110,000
 Frank Moxon     Non-Executive Director  30,000                         230                                        5 years          80,000

 

The new Options set out in the table above for Non-Executive Directors 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 265,000 new Options, in aggregate, have been granted to certain
other members of senior management and employees at the same exercise price of
230 pence per Ordinary Share.

 

 

Enquiries:

 Jersey Oil and Gas plc  Andrew Benitz, CEO   C/o Camarco:

                                              Tel:  020 3757 4983
 Strand Hanson Limited   James Harris         Tel:  020 7409 3494

                         Matthew Chandler

                         James Bellman
 Arden Partners plc      Paul Shackleton      Tel: 020 7614 5900

 finnCap Ltd             Christopher Raggett  Tel: 020 7220 0500

                         Tim Redfern
 Camarco                 Billy Clegg          Tel:  020 3757 4983

                         James Crothers

 

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.

 

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 pence each in the Company
     Identification code                                          GB00BYN5YK77
 b)  Nature of the Transaction                                    Grant of Options over ordinary shares of 1 pence each in the Company
 c)  Price(s) and volume(s)                                       Price(s) Volume(s)

                                                                  230p     290,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      29 April 2022
 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 pence each in the Company
     Identification code                                          GB00BYN5YK77
 b)  Nature of the Transaction                                    Grant of Options over ordinary shares of 1 pence each in the Company
 c)  Price(s) and volume(s)                                       Price(s) Volume(s)

                                                                  230p     75,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      29 April 2022
 f)  Place of the transaction                                     Outside of a trading venue

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Marcus Stanton
 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 pence each in the Company
     Identification code                                          GB00BYN5YK77
 b)  Nature of the Transaction                                    Grant of Options over ordinary shares of 1 pence each in the Company
 c)  Price(s) and volume(s)                                       Price(s) Volume(s)

                                                                  230p     30,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      29 April 2022
 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 (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 pence each in the Company
     Identification code                                          GB00BYN5YK77
 b)  Nature of the Transaction                                    Grant of Options over ordinary shares of 1 pence each in the Company
 c)  Price(s) and volume(s)                                       Price(s) Volume(s)

                                                                  230p     30,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      29 April 2022
 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)

                                                                  230p     150,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      29 April 2022
 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)

                                                                  230p     150,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      29 April 2022
 f)  Place of the transaction                                     Outside of a trading venue

 

 

END

 

 

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