REG - Predator O&G Hldgs - Issuance of Share Options

Predator Oil & Gas HoldingsAnnouncement

31/01/2022 07:00

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RNS Number : 0573A  Predator Oil & Gas Holdings PLC  31 January 2022

 

FOR IMMEDIATE RELEASE

31 January 2022

 

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil
& Gas

LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

 

Issuance of Share Options

 

 

Predator, the Jersey-based Oil and Gas Company with operations in Trinidad,
Morocco and Ireland, advises of the issuance of the following options over
new Ordinary Shares:

 

Issuance of Options to Directors

The Board's Remuneration Committee has resolved to make the following award of
unallocated share options under the Company's existing option scheme:

 

To Lonny Baumgardner (Chief Operations Officer):

-     Award of 7,855,486 Options

 

To Louis Castro (Non-executive Director):

-    Award of 1,000,000 Options

 

Directors' Holdings

Following the issue of the options to Directors as described above, and
inclusive of shares and options already held by Directors, the  positions
held by the Directors is as follows:

 

 DIRECTOR        TOTAL SHARES      OPTIONS       OPTIONS           OPTIONS


                                   18 May 2018   27 October 2020   31 January 2022
 Paul Griffiths  46,871,508        4,005,486     3,850,000         Nil
 Stephen Staley       669,600      1,001,370     1,650,000         Nil
 Louis Castro    Nil               Nil           1,650,000         1,000,000
 Lonny           Nil               Nil           Nil               7,855,486

 Baumgardner

 

Details of the 2018 and 2020 option awards may be found in the Company's
annual report.

Options issued on 31 January 2022 are exercisable at 5.66 pence per share,
being the closing mid-market price on 28 January 2022, and will vest after 6
months.

 

 

 

 

Total Options and Warrants on issue

Following the issuances of the options announced herein, the total options and
warrants outstanding in the Company are as follows:

 

                    OPTIONS         OPTIONS             WARRANTS(³)   OPTIONS

                    18 May 2018¹    27 October 2020²                  31 January 2022(4)
 Directors          5,006,856       7,150,000           Nil           8,855,486
 Previous director  1,001,370       Nil                 Nil           Nil
 Advisers           Nil             Nil                 10,123,678    Nil

 and others

(1)  18/5/18 options are exercisable at 2.8 pence per share

(2)  27/10/20 options are exercisable at 5 pence per share

(3)  Warrants  include outstanding warrants issued to Company advisers at
 

an exercise price of 2.8 pence per share (2,053,678 on 24 May 2018),    12
pence per share (2,000,000 on 15 February 2019), 4 pence per  share
(4,450,000 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March
2021) and 15 pence per share (600,000 on 18 June 2021). Further details of the
2018, 2019, 2020 and 2021 warrant awards may be found in the Company's annual
report and the unaudited Interim Financial Statements for the 6 months to 30
June 2021.

(4) 8,855,486 options are exercisable at 5.66 pence per share.

 

If all options and warrants were to become exercisable and then exercised in
accordance with their terms, gross proceeds received by the Company would
be £1,699,554.

 

This announcement contains inside information for the purposes of Article 7 of
the Regulation (EU) No 596/2014 on market abuse

 

For more information please visit the Company's website
at www.predatoroilandgas.com (http://www.predatoroilandgas.com/) :

 

Enquiries:

 Predator Oil & Gas Holdings Plc                                  Tel: +44 (0) 1534 834 600

 Dr. Stephen Staley   Non-executive Chairman                      Info@predatoroilandgas.com (mailto:Info@predatoroilandgas.com)

 Paul Griffiths             Chief Executive Officer

 Novum Securities Limited                                         Tel: +44 (0) 207 399 9425

 Jon Belliss

 Optiva Securities Limited                                        Tel: +44 (0) 203 137 1902

 Christian Dennis

 Flagstaff Strategic and Investor Communications                  Tel: +44 (0) 207 129 1474

 Tim Thompson                                                     predator@flagstaffcomms.com (mailto:predator@flagstaffcomms.com)

 Mark Edwards

 Fergus Mellon

 

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which
is prospective for Tertiary gas in prospects less than 10 kilometres from the
Maghreb gas pipeline.  The MOU-1 well has been completed and a follow-up
testing programme is being developed and a further drilling programme is under
review.

 

Predator is seeking to further develop the remaining oil reserves of
Trinidad's mature onshore oil fields through the application of CO2 EOR
techniques and by sequestrating anthropogenic carbon dioxide to produce
"greener" oil.

 

In addition, Predator also owns and operates exploration and appraisal assets
in licensing options offshore Ireland, for which successor authorisations have
been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on
the Atlantic Margin and east of the decommissioned Kinsale gas field in the
Celtic Sea.

 

Predator has developed a Floating Storage and Regassification Project
("FSRUP") for the import of LNG and its regassification for Ireland and is
also developing gas storage concepts to address security of gas supply and
volatility in gas prices during times of peak gas demand.

 

The Company has a highly experienced management team with a proven track
record in operations in the oil and gas industry.

 

 

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