REG - Seascape Energy Asia - Long Term Incentive Plan Awards
13/01/2026 07:05
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260113:nRSM5901Oa&default-theme=true
RNS Number : 5901O Seascape Energy Asia PLC 13 January 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").
13 January 2026
Seascape Energy Asia plc
(the "Company", "Seascape Energy" or "Seascape")
Notification of Transaction by Person Discharging Managerial Responsibilities
("PDMR")
Long Term Incentive Plan Awards
As part of the annual bonus cycle for the performance year ending 31 December
2025, the Executive Directors have elected to receive a significant proportion
of their annual bonus in the form of nil cost options to acquire ordinary
shares of 10p each in the Company (the "LTIP Options") under the Company's
Long Term Incentive Plan (the "LTIP"), to allow them to continue to build
their equity stake in the Company and ensure alignment with shareholders.
In addition, Seascape announces the grant of an award under the Company's NED
Plan (the "NED Plan") to Michael Buck, who has joined the Company's board of
directors today as an Independent non-executive Director.
Following the vesting of the Awards and including existing shareholdings, the
Directors will hold a total of 7.7% of the Company's issued share capital.
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).
The Awards
The Company's Remuneration Committee, which is made up exclusively of
Non-Executive Directors, has made awards under the LTIP to the following PDMRs
(the "Awards") in the form of nil cost options to acquire ordinary shares of
10p each 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 0.37
James Menzies Executive Chairman 164,991 0.26
Pierre Eliet Executive Director 166,578 0.26
Julian Riddick Company Secretary 51,982 0.08
The calculation of the Awards utilised an average market price of 64.7 pence
per share and 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 NED Plan Award
The NED Plan is designed to provide incentivisation and retention over a
three-year period (the "Performance Period"), vesting from 13 January 2027 to
13 January 2029. Following awards made to the other non-executive Directors
and in the interests of consistency, the Company's Board of Directors has made
an award under the NED Plan to Michael Buck in the form of market priced
options to acquire ordinary shares of 10p each in the Company (the "NED
Options").
The Board of Directors has used its discretion, as provided for under the NED
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 the NED Options, is set out below:
PDMR Title No. of Options ISC%
Michael Buck Independent Non-executive Director 61,300 0.1
The NED Options have been set at price of 64.7 pence per share and subject to
the rules of the Plan, the NED Options will vest in three equal annual
tranches after grant and be exercisable for a period of up to five years from
grant.
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
1. Details of the person discharging managerial responsibilities/persons closely
associated
a) Name Michael Buck
2. Reason for 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 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 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)
£0.647 61,300
d) Aggregated Information n/a
e) Date of transaction 13 January 2026
f) Place of transaction Outside a trading venue
d)
Aggregated Information
n/a
e)
Date of transaction
13 January 2026
f)
Place of transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities/persons closely
associated
a) Name Nicholas Ingrassia
2. Reason for notification
a) Position/Status CEO
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 Grant of nil-cost option under the Seascape Energy Asia plc Long Term
Incentive Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£Nil 232,721
d) Aggregated Information n/a
e) Date of transaction 13 January 2026
f) Place of transaction Outside a trading venue
d)
Aggregated Information
n/a
e)
Date of transaction
13 January 2026
f)
Place of transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities/persons closely
associated
a) Name James 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 Grant of nil cost option under the Seascape Energy Asia plc Long Term
Incentive Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£Nil 164,991
d) Aggregated Information n/a
e) Date of transaction 13 January 2026
f) Place of transaction Outside a trading venue
d)
Aggregated Information
n/a
e)
Date of transaction
13 January 2026
f)
Place of transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities/persons closely
associated
a) Name Pierre Eliet
2. Reason for notification
a) Position/Status Director, SE Asia
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 Grant of nil cost option under the Seascape Energy Asia plc Long Term
Incentive Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£Nil 166,578
d) Aggregated Information n/a
e) Date of transaction 13 January 2026
f) Place of transaction Outside a trading venue
d)
Aggregated Information
n/a
e)
Date of transaction
13 January 2026
f)
Place of transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities/persons closely
associated
a) Name Julian Riddick
2. Reason for notification
a) Position/Status Company Secretary
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 Grant of nil cost option under the Seascape Energy Asia plc Long Term
Incentive Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£Nil 51,982
d) Aggregated Information n/a
e) Date of transaction 13 January 2026
f) Place of transaction Outside a trading venue
d)
Aggregated Information
n/a
e)
Date of transaction
13 January 2026
f)
Place of transaction
Outside a trading venue
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 DSHUUSBRNAUAAAR
Copyright 2019 Regulatory News Service, all rights reservedRecent news on Seascape Energy Asia
See all newsREG - Seascape Energy Asia - Keladi Prospect Upgrade
AnnouncementREG - Seascape Energy Asia - Long Term Incentive Plan Awards
AnnouncementREG - Seascape Energy Asia Petro Matad Ltd - Board Changes
AnnouncementREG - Seascape Energy Asia - JV Approve Drilling of the Kertang Prospect
AnnouncementREG - Seascape Energy Asia - Holding(s) in Company
Announcement