Share Option Award
Prospex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas
19 June 2026
Prospex Energy plc
("Prospex" or the "Company")
Share Option Award
Prospex Energy plc (AIM: PXEN), the AIM quoted investment company focused on European gas and power projects, announces that it has today granted a total of 14,350,000 share options in the Company to directors and other staff (the "Options") following a review of staff remuneration.
The Options awarded were intended to be awarded by the Board of Directors in Q1 2026 but due to the Company being in a close period were not able to be formally awarded until after the annual report was published.
The Options represent 3.31% of the current issued share capital of the Company. Following this award the total number of options in issue to current staff, directors and management is 29,816,667, which represents 6.9% of the total issued share capital. This total excludes 15,000,000 options awarded to CEO Tom Reynolds on his appointment, details of which were announced on 6 January 2026.
The last award of options (other than to Tom Reynolds) was in October 2024. The objective of this award is to align directors and staff with the target of delivering a liquidity event for shareholders.
The Options have been awarded with a strike price of 0.1p, being the nominal price of ordinary shares. The Options vest in three months' time on 20 September 2026 and are exercisable for a period of five years subject to the following conditions:
1. a liquidity event for the Company accepted or approved by the shareholders; or
2. failing which, after 31 December 2027 the VWAP is consistently above 7.5p per share for a period of 90 calendar days
The Options to be issued are set out below:
William Smith
1,000,000
Simon Ashby-Rudd
1,000,000
Andrew Hay
1,000,000
Alasdair Buchanan
1,000,000
PDMR staff
2,500,000
Other non-PDMR staff
7,850,000
Total
14,350,000
Options currently held by directors prior to the award of the Options:
Director
No. Options
Strike Price
Expiry
William Smith
900,000
5.00p
17/03/2027
900,000
8.15p
23/09/2027
370,000
12.25p
27/02/2028
300,000
7.00p
25/07/2028
400,000
6.40p
02/10/2029
Total
2,870,000
Alasdair Buchanan
900,000
5.00p
17/03/2027
900,000
8.15p
23/09/2027
370,000
12.25p
27/02/2028
300,000
7.00p
25/07/2028
400,000
6.40p
02/10/2029
Total
2,870,000
Andrew Hay
900,000
7.00p
25/07/2028
400,000
6.40p
02/10/2029
Total
1,300,000
Simon Ashby-Rudd
-
-
-
Total
-
Tom Reynolds
15,000,000
0.1p
01/01/2031
Total
15,000,000
Total Options
22,040,000
Directors' total options after this award:
Director
Number
% of current share capital
William Smith
3,870,000
0.9%
Simon Ashby-Rudd
1,000,000
0.2%
Alasdair Buchanan
3,870,000
0.9%
Andrew Hay
2,300,000
0.5%
Tom Reynolds
15,000,000
3.5%
Total Directors
26,040,000
6.0%
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
* * ENDS * *
For further information visit www.prospex.energy or contact the following:
Tom Reynolds
Prospex Energy PLC
Tel: +44 (0) 20 7236 1177
Ritchie Balmer
Rory MurphyStrand Hanson Limited
Tel: +44 (0) 20 7409 3494
Andrew Monk (Corporate Broking)
Andrew Raca (Corporate Finance)VSA Capital Limited
Tel: +44 (0) 20 3005 5000
Neil Passmore
Leif Powis
Hannam & Partners
Tel: +44 (0) 20 7907 8500
Ana Ribeiro / Charlotte Page
St Brides Partners Limited
Tel: +44 (0) 20 7236 1177
PDMR Disclosures
The notifications below are made in accordance with the requirements of the UK Market Abuse Regulation.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
William Smith
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
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
Identification code
GB00BMFZVZ53
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Exercise price: 0.1p
Volume: 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
18 June 2026
f)
Place of the transaction
Outside of a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Simon Ashby-Rudd
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
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
Identification code
GB00BMFZVZ53
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Exercise price: 0.1p
Volume: 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
18 June 2026
f)
Place of the transaction
Outside of a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Andrew Hay
2
Reason for the notification
a)
Position/status
Independent 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
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
Identification code
GB00BMFZVZ53
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Exercise price: 0.1p
Volume: 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
18 June 2026
f)
Place of the transaction
Outside of a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Alasdair Buchanan
2
Reason for the notification
a)
Position/status
Independent 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
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")
Identification code
GB00BMFZVZ53
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Exercise price: 0.1p
Volume: 1,000,000
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
18 June 2026
f)
Place of the transaction
Outside of a trading venue
Notes
Prospex Energy plc is an AIM-quoted investing company focused on high-impact onshore and shallow offshore European opportunities with short timelines to production. The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then apply low-cost re-evaluation techniques to identify and de-risk prospects. The Company will rapidly scale up gas production in the short term to generate internal revenue, which can then be deployed to develop the asset base and further increase production.
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