REG - Southern Energy Corp - STOCK OPTION AND RESTRICTED SHARE AWARD GRANT
12/09/2022 07:00
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RNS Number : 0152Z Southern Energy Corp. 12 September 2022
SOUTHERN ENERGY CORP. ANNOUNCES STOCK OPTION AND RESTRICTED SHARE AWARD GRANT
Calgary, Alberta - September 12, 2022 - Southern Energy Corp. ("Southern" or
the "Company") (TSXV:SOU) (AIM:SOUC), a U.S.-focused, growth-oriented natural
gas producer, announces that pursuant to the Company's Stock Option Plan and
Share Award Incentive Plan, an aggregate of 4,000,000 stock options
("Options") to purchase common shares of the Company ("Common Shares") and
2,495,700 restricted share awards ("RSAs") were granted as part of Southern's
overall compensation and employee retention program.
The Options expire in five years from the date of the grant and are
exercisable at a price of CAD$1.01 per Common Share, being the closing market
price on the TSXV on the day prior to this announcement. The Options vest as
to one third on the grant date and one third on each of the first and second
anniversaries of the grant date. The RSAs vest as to one third on each of
the first, second and third anniversaries of the grant date. On the vesting
dates of such RSAs, the holder is entitled to receive a cash payment or its
equivalent in fully paid Common Shares, at the Company's discretion, equal to
the closing market value per Common Share on the TSXV on the business day
prior to such payment.
In aggregate, 2,230,000 of the Options and 914,800 of the RSAs were issued to
directors and persons discharging managerial responsibilities ("PDMR") of the
Company, as set out below:
PDMR Position Options Awarded RSAs Awarded
Ian Atkinson President and CEO (Director) 550,000 234,400
Calvin Yau CFO 420,000 220,300
Gary McMurren COO 420,000 220,300
Paul Baay Non-Executive Director 105,000 29,975
Bruce Beynon Non-Executive Director 105,000 29,975
Michael Kohut Non-Executive Director 105,000 29,975
Tamara MacDonald Non-Executive Director 105,000 29,975
Andrew McCreath Non-Executive Director 105,000 29,975
Joseph Nally Non-Executive Director 105,000 29,975
Neil Smith Non-Executive Director 105,000 29,975
Steven Smith Non-Executive Director 105,000 29,975
For further information about Southern, please visit our website at
www.southernenergycorp.com (http://www.southernenergycorp.com) or contact:
Southern Energy Corp.
Ian Atkinson (President and CEO) +1 587 287 5401
Calvin Yau (CFO) +1 587 287 5402
Strand Hanson Limited - Nominated & Financial Adviser +44 (0) 20 7409 3494
James Spinney / James Bellman
Hannam & Partners - Joint Broker +44 (0) 20 7907 8500
Sam Merlin / Ernest Bell
Canaccord Genuity - Joint Broker +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor / Gerel Bastin
Camarco
James Crothers, Hugo Liddy, Billy Clegg +44 (0) 20 3757 4980
About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and production company.
Southern has a primary focus on acquiring and developing conventional natural
gas and light oil resources in the southeast Gulf States of Mississippi,
Louisiana, and East Texas. Our management team has a long and successful
history working together and have created significant shareholder value
through accretive acquisitions, optimization of existing oil and natural gas
fields and the utilization of re-development strategies utilizing horizontal
drilling and multi-staged fracture completion techniques.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
PDMR NOTIFICATION FORMS
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Ian Atkinson
2. Calvin Yau
3. Gary McMurren
4. Paul Baay
5. Bruce Beynon
6. Michael Kohut
7. Tamara MacDonald
8. Andrew McCreath
9. Joseph Nally
10. Neil Smith
11. Steven Smith
2 Reason for the notification
a) Position/status 1. President and CEO (Director)
2. CFO
3. COO
4. Non-Executive Director
5. Non-Executive Director
6. Non-Executive Director
7. Non-Executive Director
8. Non-Executive Director
9. Non-Executive Director
10. Non-Executive Director
11. 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 Southern Energy Corp.
b) LEI 213800R25GL7J3EBJ698
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 Options to acquire common shares in Southern Energy Corp.
Identification code CA8428131059
b) Nature of the transaction Grant of share options
c) Price(s) and volume(s)
Effective price Volumes
1. CAD$1.01 555,000
2. CAD$1.01 420,000
3. CAD$1.01 420,000
4. CAD$1.01 105,000
5. CAD$1.01 105,000
6. CAD$1.01 105,000
7. CAD$1.01 105,000
8. CAD$1.01 105,000
9. CAD$1.01 105,000
10. CAD$1.01 105,000
11. CAD$1.01 105,000
d) Aggregated information N/A (single transaction for each individual)
e) Date of the transaction 12 September 2022
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
N/A (single transaction for each individual)
e)
Date of the transaction
12 September 2022
f)
Place of the transaction
Outside of a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Ian Atkinson
2. Calvin Yau
3. Gary McMurren
4. Paul Baay
5. Bruce Beynon
6. Michael Kohut
7. Tamara MacDonald
8. Andrew McCreath
9. Joseph Nally
10. Neil Smith
11. Steven Smith
2 Reason for the notification
a) Position/status 1. President and CEO (Director)
2. CFO
3. COO
4. Non-Executive Director
5. Non-Executive Director
6. Non-Executive Director
7. Non-Executive Director
8. Non-Executive Director
9. Non-Executive Director
10. Non-Executive Director
11. 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 Southern Energy Corp.
b) LEI 213800R25GL7J3EBJ698
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 Restricted Share Awards to receive common shares in Southern Energy Corp. or
equivalent cash payment, at Company's sole discretion on vesting dates
Identification code CA8428131059
b) Nature of the transaction Grant of restricted share awards
c) Price(s) and volume(s)
Effective price Volumes
1. CAD$1.01 234,400
2. CAD$1.01 220,300
3. CAD$1.01 220,300
4. CAD$1.01 29,975
5. CAD$1.01 29,975
6. CAD$1.01 29,975
7. CAD$1.01 29,975
8. CAD$1.01 29,975
9. CAD$1.01 29,975
10. CAD$1.01 29,975
11. CAD$1.01 29,975
d) Aggregated information N/A (single transaction for each individual)
e) Date of the transaction 12 September 2022
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
N/A (single transaction for each individual)
e)
Date of the transaction
12 September 2022
f)
Place of the transaction
Outside of a trading venue
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