REG - Seascape Energy Asia - Deferred 2025 Annual Bonus

Seascape Energy AsiaAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260422:nRSV3855Ba&default-theme=true

RNS Number : 3855B  Seascape Energy Asia PLC  22 April 2026

THIS ANNOUNCEMENT DOES NOT CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN
ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

 

22 April 2026

Seascape Energy Asia plc

(the "Company", "Seascape Energy" or "Seascape")

 

Notification of Transaction by Person Discharging Managerial Responsibilities
("PDMR")

 

Deferred 2025 Annual Bonus

 

The Executive Directors have elected to receive the as yet unpaid element of
their annual 2025 bonus in the form of equity in the Company.

 

The Awards

Fifty percent of the Executive Directors' 2025 bonus was to be paid in cash
but contingent upon a suitable liquidity event having occurred. Whilst the
recent placing of new ordinary shares in the Company qualifies as such an
event, the Executive Directors have taken the view that it would not be
appropriate to use those monies in part to pay the cash element of their
bonuses.  Moreover, taking the award in equity enables them to continue to
continue to build their equity stakes in the Company, ensuring alignment with
shareholders.

 

Following the vesting of these awards, together with those awarded in January
and the existing shareholdings, the Directors will hold a total of 7.8% of the
Company's issued share capital.

 

Accordingly the Company's Remuneration Committee has decided to make these
equity awards under  the existing  LTIP scheme. This will see the Executive
Directors being awarded nil cost options to acquire ordinary shares in the
Company. The number of shares and percentage of the Company's current issued
share capital ("ISC"), is set out below:

 

 PDMR            Title                                           No. of Option shares  ISC%
 Nick Ingrassia  CEO                                             232,721               0.33
 James Menzies   Executive Chairman                              164,991               0.24
 Pierre Eliet    Executive Director Corporate Development        166,578               0.24

 

To be consistent, the calculation of the Awards has utilised the same price
and date of grant used for the first part of the bonus made by way of an LTIP
Award, announced on 13 January 2026.  Subject to the rules of the Plan the
Options will vest in 12 months from the date of grant and be exercisable for a
period of up to five years from grant.

 

The LTIP

The LTIP, which is designed to provide incentivisation and retention for the
Company's personnel, was approved by shareholders at the 2020 AGM and the
principal terms are summarised in the Company's Re-admission document of 10
June 2021 (available on the Company's web site).

 

Notification of Deal Forms of each PDMR can be found below. This announcement
is made in accordance with Article 19 of the EU Market Abuse Regulation
596/2014.

 

 Enquiries:
 Seascape Energy Asia plc                          IR@seascape-energy.com
 James Menzies (Executive Chairman)

 Nick Ingrassia (Chief Executive)

 Pierre Eliet (Executive Director)

 Stifel (Nomad and Joint Broker)                   Tel: +44 20 7710 7600
 Callum Stewart                                    SNELSeascape@Stifel.com (mailto:SNELSeascape@Stifel.com)

 Jason Grossman

 Ashton Clanfield

 Cavendish Capital Markets Limited (Joint Broker)  Tel: +44 20 7397 8900
 Neil McDonald

 Pete Lynch

 

 Details of the person discharging managerial responsibilities/persons closely
 associated

 a)                Position/status:                                              1.         Executive Chairman

                                                                                 2.         Chief Executive Officer

                                                                                 3.         Executive Director Corporate Development

 b)                Initial notification/Amendment:                               Initial Notification

 3.                Details of the issuer, emission allowance market participant, auction
                   platform, auctioneer or auction monitor
 a)                Name                                                          Seascape Energy Asia plc

 b)                LEI:                                                          213800D1D587TB36ST68

 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 £0.10 each in the share capital of Seascape Energy Asia

                                                             plc

                   Identification code:

                                                                                 ISIN: GB00BKFW2482

 b)                Nature of transaction                                         Grant of market priced options under the Seascape Energy Asia plc Long Term
                                                                                 Incentive Plan
 c)                Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                                 1. James Menzies   64.7p     232,721
                                                                                 2. Nick Ingrassia  64.7p     164,991
                                                                                 3. Pierre Eliet    64.7p     166,578

 

 d)                Aggregated information:

                   · Aggregated volume:                                          N/a

                   · Price:                                                      N/a

 e)                Date of the transaction:                                      21 April 2026

 f)                Place of the transaction:                                     XOFF

 

 

 

d)

Aggregated information:

· Aggregated volume:

· Price:

 

 

N/a

N/a

 

 

e)

Date of the transaction:

21 April 2026

 

 

 

f)

Place of the transaction:

XOFF

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHBIGDSUBDDGLB



            Copyright 2019 Regulatory News Service, all rights reserved