REG - Seascape Energy Asia - Director/PDMR Shareholding

Seascape Energy AsiaAnnouncement

14/02/2025 07:15

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RNS Number : 0910X  Seascape Energy Asia PLC  14 February 2025

14 February 2025

 
Seascape Energy Asia
plc

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

 

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

 

Long Term Incentive Plan Award

 

Seascape Energy announces the grant of an award under the Company's NED Plan
(the "Plan") to Haida Hazri who has joined the Company's board of Directors as
an Independent non-executive Director.

 

The Award

 

The Plan is designed to provide incentivisation and retention over a
three-year period (the "Performance Period"), vesting from 13 February 2026 to
13 February 2028.  Following awards made to the other non-executive Directors
in July 2024, and in the interests of consistency, the Company's Board of
Directors has made an award under the Plan to Haida Hazri in the form of
market priced options to acquire ordinary shares of 10p each in the Company
(the "Options").

 

The Board of Directors has used its discretion, as provided for under the Plan
rules, to make an exceptional award (100% - 200%) equivalent to 110% of the
annual fee payable for acting as a non-executive Director. The award has been
sized to ensure that no judgement or performance is compromised and the number
of shares and percentage of the Company's enlarged issued share capital
("ISC"), assuming full exercise of all Options, is set out below:

 

 PDMR         Title                                     No. of Options  ISC%
 Haida Hazri  Independent Non-executive Director        102,700         0.16

 

The Options have been set at price of 37.5p per share which represents the
average closing price of Seascape's shares over the five trading days up to
the award date. Subject to the rules of the Plan, the Options will vest in
three equal annual tranches after grant and be exercisable for a period of up
to five years from grant.

 

Related Party Transaction

 

An award of Options to a Non-executive Director is deemed to be Related Party
Transactions under Rule 13 of the AIM Rules. Accordingly, the Company's other
Non-Executive Directors consider this award to be fair and reasonable insofar
as the Company's shareholders are concerned.

 

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.

 

Inside Information

 

This announcement contains inside information for the purposes of article 7 of
Regulation 2014/596/EU (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018) ('UK MAR'). Upon publication of this
announcement, this inside information (as defined in UK MAR) is now considered
to be in the public domain.

 

 

 

 

 

 

 Enquiries:
 Seascape Energy
 Nick Ingrassia, Chief Executive Officer

 Stifel Nicolaus Europe Limited (Nomad, Joint Broker)  Tel: +44 20 7710 7600
 Callum Stewart

 Jason Grossman

 Ashton Clanfield

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

Neil McDonald

Pete Lynch

Leif Powis

 

 

 Details of the person discharging managerial responsibilities/persons closely
 associated
 Name
 Reason for notification
 Position/Status                                                                 Non-executive Director
 Initial notification/amendment                                                  Initial notification
 Details of the issuer, emission allowance market participant, auction
 platform, auctioneer or auction monitor
 Name                                                                            Seascape Energy Asia plc
 LEI                                                                             213800D1D587TB36ST68
 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
 Description of the financial instrument, type of instrument and identification  Market priced options over Ordinary Shares of £0.10 each in the capital of
 code                                                                            Seascape Energy Asia plc ISIN: GB00BKFW2482
 Nature of transaction                                                           Grant of options under the Seascape Energy Asia plc NED Plan
 Price(s) and volume(s)                                                          Price(s)  Volume(s)
                                                                                 £0.375    102,700
 Aggregated Information                                                          n/a
 Date of transaction                                                             13 February 2025
 Place of transaction                                                            XOFF

Aggregated Information

n/a

Date of transaction

13 February 2025

Place of transaction

XOFF

 

 

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