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

Jersey Oil and GasAnnouncement

20/04/2023 07:00

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RNS Number : 8328W  Jersey Oil and Gas PLC  20 April 2023

20 April 2023

 

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, 600,000 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 247.50
pence per Ordinary Share (the "Options"), being the middle market closing
price on 19 April 2023, the latest practicable date prior to this
announcement.

 

Accordingly, a total of 4,134,002 option awards are outstanding following
these latest grants, which represents approximately 12.7 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 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   150,000                        247.50                                     7 years          800,000
 Graham Forbes  Chief Financial Officer   100,000                        247.50                                     7 years          600,000
 Richard Smith  Chief Commercial Officer  100,000                        247.50                                     7 years          600,000

 

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                     45,000                         247.50                                     5 years          120,000
 Frank Moxon     Senior Independent Non-Executive Director  20,000                         247.50                                     5 years          100,000
 Marcus Stanton  Non-Executive Director                     20,000                         247.50                                      5 years         130,000

 

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 165,000 new Options, in aggregate, have been granted to certain
other members of senior management and employees at the same exercise price of
247.50 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         Tel:  020 7409 3494

                         Matthew Chandler

                         James Bellman
 Zeus Capital Limited    Simon Johnson        Tel: 020 3829 5000

 finnCap Ltd             Christopher Raggett  Tel: 020 7220 0500

                         Tim Redfern
 Camarco                 Billy Clegg          Tel:  020 3757 4980

                         Rebecca Waterworth

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)

                                                                  247.50p     150,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      19 April 2023
 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)

                                                                  247.50p     45,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      19 April 2023
 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 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)

                                                                  247.50p     20,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      19 April 2023
 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)

                                                                  247.50p     20,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      19 April 2023
 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)

                                                                  247.50p     100,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      19 April 2023
 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)

                                                                  247.50p     100,000
 d)  Aggregated information                                       N/A (Single transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      19 April 2023
 f)  Place of the transaction                                     Outside of a trading venue

 

 

 

 

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