REG - Southern Energy Corp - Stock Option Grant

Southern EnergyAnnouncement

17/07/2024 07:00

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RNS Number : 6744W  Southern Energy Corp.  17 July 2024

SOUTHERN ENERGY CORP. ANNOUNCES STOCK OPTION GRANT

 

Calgary, Alberta - July 17, 2024 - Southern Energy Corp. ("Southern" or the
"Company") (TSXV:SOU) (AIM:SOUC) (OTCQX:SOUTF) announces that pursuant to the
Company's Stock Option Plan, an aggregate of 3,102,500 stock options
("Options") to purchase common shares of the Company ("Common Shares") 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$0.175 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.

In aggregate, 1,642,000 of the Options were issued to directors and persons
discharging managerial responsibilities ("PDMR") of the Company, as set out
below:

 

 PDMR              Position                      Options Awarded
 Ian Atkinson      President and CEO (Director)  417,000
 Calvin Yau        CFO                           350,000
 Gary McMurren     COO                           350,000
 Bruce Beynon      Non-Executive Director        105,000
 Tamara MacDonald  Non-Executive Director        105,000
 Joseph Nally      Non-Executive Director        105,000
 Neil Smith        Non-Executive Director        105,000
 Steven Smith      Non-Executive Director        105,000

 

 

 

 

 

 

 

 

For further information about Southern, please visit our website at
www.southernenergycorp.com
(https://url.avanan.click/v2/___http:/www.southernenergycorp.com___.YXAzOnNvdXRoZXJuZW5lcmd5Y29ycDphOm86MzA2NjE2OWIxMDBjM2FjM2I3ZjZhZDA1OGM0NTUwODU6NjpkYzc5OmExY2U1YzQxYTI4YWQ0NjQ0MWZhZThlYTdkZDdlNzlkNDI1NDQ5MjllNjk0M2QyOGFmNWQzZWIxZTRkMTJkNTQ6cDpU)
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 / Rob Patrick

  Stifel Nicolaus Europe Limited - Joint Broker               +44 (0) 20 7710 7600
  Callum Stewart / Ashton Clanfield

  Tennyson Securities - Joint Broker                          +44 (0) 20 7186 9033
  Peter Krens / Pav Sanghera

  Camarco                                                     +44 (0) 20 3757 4980
  Owen Roberts / Billy Clegg / Hugo Liddy

 

About Southern Energy Corp.

Southern Energy Corp. is a natural gas exploration and production company
characterized by a stable, low-decline production base, a significant low-risk
drilling inventory and strategic access to premium commodity pricing in North
America. 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 the 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.    Bruce Beynon

                                                                  5.    Tamara MacDonald

                                                                  6.    Joseph Nally

                                                                  7.    Neil Smith

                                                                  8.    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
 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)

  Exercisable price  Volumes
                                                                  1.  CAD$0.175          417,000
                                                                  2.  CAD$0.175          350,000
                                                                  3.  CAD$0.175          350,000
                                                                  4.  CAD$0.175          105,000
                                                                  5.  CAD$0.175          105,000
                                                                  6.  CAD$0.175          105,000
                                                                  7.  CAD$0.175          105,000
                                                                  8.  CAD$0.175          105,000

 
 d)  Aggregated information                                       N/A
 e)  Date of the transaction                                      17 July 2024
 f)  Place of the transaction                                     Outside of a trading venue

 

d)

Aggregated information

N/A

e)

Date of the transaction

17 July 2024

f)

Place of the transaction

Outside of a trading venue

 

 

 

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