REG - Star Energy Group - Additional Share Listing

Star EnergyAnnouncement

26/04/2024 16:15

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RNS Number : 2801M  Star Energy Group PLC  26 April 2024

 26 April 2024

 

Star Energy Group plc ("Star Energy" or the "Company")

Additional Share Listing

 

The Company announces that an application has been made to the London Stock
Exchange for a total of 138,010 Ordinary Shares of 0.002p each (the "SIP
Shares") to trade on the AIM market of London Stock Exchange ("AIM") under the
Star Energy Group plc Share Incentive Plan ("SIP"). Subject to admission, the
SIP Shares will be held by Equiniti Share Plan Trustees Limited (the "SIP
Trustees").

 

The number of shares to be issued under the SIP has been calculated with
reference to the mid-market closing price of 9.51p on 29 December 2023, in
accordance with the rules of the SIP. The SIP Shares shall rank equally with
the existing issued shares of the Company. It is expected that admission to
AIM will become effective on or around 01 May 2024.

The issued share capital of the Company following the above detailed issue of
shares will be 128,949,876 Ordinary Shares; the number of deferred shares
remains 303,305,534. The total number of voting rights in Star Energy will be
128,949,876 Ordinary Shares, which should be used by shareholders 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 Star
Energy under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

Further details on the SIP are set out in the appendix to this announcement.

ENQUIRIES

For further information please contact:

 

Star Energy Group plc      Tel: +44 (0)20 7993 9899

Ann-marie Wilkinson, Chief of Staff

 

Investec Bank plc (NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597 5970

Virginia Bull/Chris Sim/Charles Craven

 

Canaccord Genuity (Joint Corporate Broker)      Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

 

Vigo Consulting   Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Finlay Thomson/Kendall Hill

 

APPENDIX

 

About the Star Energy SIP

In 2013, the Company adopted an Inland Revenue approved Share Investment Plan
for all employees of the Group. The scheme is a tax efficient incentive plan
pursuant to which all Company employees are eligible to subscribe for up to
GBP150 (or 10% of salary, if less) worth of Star Energy ordinary shares per
month. On a three-monthly basis, the Company matches employees' monthly
subscriptions on a 1-to-1 basis and, subject to the Company having met
pre-defined quarterly production targets, will increase the matching element
for that quarter to 2-to-1. To receive their allocation of matching shares,
employees must ordinarily remain employed by the Company for a period of 3
years. Shares issued under the SIP are held by the SIP Trustees.

 

Under the SIP, during the vesting period the recipient retains the voting
rights and dividend rights associated with the matching allocation shares
however, is unable to sell the shares until the vesting criteria have been
fulfilled.  The matching allocation shares will be issued to the Company's
Employee Benefit Trust and held until vesting conditions have been met. The
participant retains the full rights over any subscription shares.

 

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