REG - Seascape Energy Asia - Director/PDMR Shareholding

Seascape Energy AsiaAnnouncement

20/03/2025 10:30

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RNS Number : 5059B  Seascape Energy Asia PLC  20 March 2025

THIS ANNOUNCEMENT CONTAINS 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").

 

20 March 2025

 

 

Seascape Energy Asia plc

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

Topaz Number One Limited - Payment of Contingent Consideration

Seascape Energy, an E&P company focused on Southeast Asia, is pleased to
announce that following the completion of  the farm-out of a 42.5%
participating interest in the Block 2A Production Sharing Contract announced
on 18(th) March 2025 ("2A Farmout"), it has paid the first tranche of
contingent consideration in relation to the acquisition of Topaz Number One
Limited ("Topaz").

As announced on 13 September 2023, the greater part of the consideration for
the acquisition of Topaz, whose sole asset was a 15.75% interest in Block 2A,
was contingent. The first contingent payment of US$125,000, payable through a
further issue of new ordinary shares of 10 pence each in the Company
("Ordinary Shares") of an equivalent value, became due upon an exploration
well being committed on Block 2A or a farm-out.

 

Accordingly following the 2A Farmout, consideration in the form of 278,870 new
Ordinary Shares equivalent to US$125,000, based on the average closing price
of such Ordinary Shares in the preceding ten days up to the announcement of
the completion of the 2A Farmout ("Consideration Shares"), will be issued to
the vendors of Topaz, James Menzies (Executive Chairman) and Pierre Eliet
(Executive Director).

 

Admission

 

Application will be made for the Consideration Shares to be admitted to
trading on AIM. It is expected that Admission will become effective and that
dealings in the enlarged share capital, as described below, will commence at
8.00 a.m. on 25 March 2025.

Following Admission, the Company's enlarged issued ordinary share capital will
consist of 63,097,816 ordinary shares, with the right to one vote each. The
Company will hold no ordinary shares in treasury. Therefore, the total number
of ordinary shares and voting rights in the Company will be 63,097,816. With
effect from Admission, this figure may be used by shareholders in the Company
as the denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change to their interest in,
the share capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

PDMR shareholdings

Following Admission, the interests of James Menzies (Executive Chairman) and
Pierre Eliet (Executive Director) in the issued share capital of the Company
will be as follows:

 

 

 

 

                As at 31 December 2024                                                                                               Immediately following Admission
 Name           Number of Existing Ordinary Shares held  Percentage of Existing Ordinary Shares held  Number of ConsiderationShares  Number of ordinary shares held  Percentage of Enlarged Share Capital held
 James Menzies  2,220,604                                3.53%                                        139,435                        2,360,039                       3.74%
 Pierre Eliet   292,163                                  0.47%                                        139,435                        431,598                         0.68%

 

Ends

 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

 Jason Grossman

 Ashton Clanfield

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

 Pete Lynch

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.

 

 1.  Details of the person discharging managerial responsibilities/persons closely
     associated
 a)  Name                                                                            James Graeme Menzies
 2.  Reason for notification
 a)  Position/Status                                                                 Executive Chairman
 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 and identification  Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc
     code                                                                            ISIN: GB00BKFW2482
 b)  Nature of transaction                                                           Issue of consideration shares
 c)  Price(s) and volume(s)                                                          Price(s)     Volume(s)
                                                                                     35.65 pence  139,435

 d)  Aggregated Information                                                          n/a
 e)  Date of transaction                                                             19 March 2025
 f)  Place of transaction                                                            XOFF

d)

Aggregated Information

n/a

e)

Date of transaction

19 March 2025

f)

Place of transaction

XOFF

 

 

 

 1.  Details of the person discharging managerial responsibilities/persons closely
     associated
 a)  Name                                                                            Pierre Patrick Eliet
 2.  Reason for notification
 a)  Position/Status                                                                 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                                                                            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 and identification  Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc
     code                                                                            ISIN: GB00BKFW2482
 b)  Nature of transaction                                                           Issue of consideration shares
 c)  Price(s) and volume(s)                                                          Price(s)     Volume(s)
                                                                                     35.65 pence  139,435

 d)  Aggregated Information                                                          n/a
 e)  Date of transaction                                                             19 March 2025
 f)  Place of transaction                                                            XOFF

d)

Aggregated Information

n/a

e)

Date of transaction

19 March 2025

f)

Place of transaction

XOFF

 

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