REG - Angus Energy PLC - Issue of Options

WH IrelandAnnouncement

24/10/2022 15:15

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RNS Number : 9113D  Angus Energy PLC  24 October 2022

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

24 October 2022

 

Angus Energy Plc

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

 

Issue of Options

 

Angus Energy plc, a conventional oil and gas production and development
company, announces that the Company has agreed the grant of 165.5 million
share options, representing 5.72% of the Company's issued share capital, under
the Company's existing Employee Incentive Schemes (the "Options") to Directors
and other staff.

The share options to be granted were proposed by the remuneration committee
and approved by the Board as part of the Company's annual share option grants;
the most recent grant of which was on 4 February 2021. This reflects the
Executive Director's and management's efforts in bringing the Company's wholly
owned Saltfleetby Field into production earlier this year. The conditional
share options are as follows:

George Lucan*                 40,000,000

Andrew Hollis*                 30,000,000

Carlos Fernandes*          30,000,000

Other employees            75,500,000

 

*Directors of the Company

 

The share options have an exercise price of 2 pence per share (being a premium
of 23% to the closing price on 21 October 2022) (the "Exercise Price") and
vest as to 100 per cent., upon the closing mid-market price of the Ordinary
Shares being 3 pence or above (being 50 per cent. above the Exercise Price).
The options have a 4 year term from the date of issue. The total award to
Directors represents 3.46% of the Company's issued share capital.

 

Following the grant of the share options outlined above, the total share
options outstanding will be 242,100,892 representing approximately 8.37% of
the 2,891,664,391 ordinary shares in issue.

 

END

 

For further information on the Company, please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk) or contact:

Enquiries:

 

Angus Energy Plc
                www.angusenergy.co.uk
(http://www.angusenergy.co.uk)

 

George Lucan
 
                Tel: +44 (0) 208 899 6380

 

Beaumont Cornish Limited (Nomad)      www.beaumontcornish.com
(http://www.beaumontcornish.com)

 

James Biddle / Roland Cornish                   Tel: +44 (0)
207 628 3396

 

WH Ireland Limited (Broker)

 

Katy Mitchell / Harry Ansell
Tel: +44 (0) 207 220 1666

 

Flagstaff PR/IR
 
              angus@flagstaffcomms.com

 

Tim Thompson / Fergus Mellon                  Tel: +44 (0) 207 129
1474

 

Aleph Commodities
                info@alephcommodities.com

 

Disclaimers - this Announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "forecasts", "plans", "prepares", "anticipates",
"projects", "expects", "intends", "may", "will", "seeks", "should" or, in each
case, their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the Directors'
intentions, beliefs or current expectations concerning, amongst other things,
the Company's prospects, growth and strategy. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
Company's actual performance, achievements and financial condition may differ
materially from those expressed or implied by the forward-looking statements
in this Announcement. In addition, even if the Company's results of
operations, performance, achievements and financial condition are consistent
with the forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in subsequent
periods. Any forward-looking statements that the Company makes in this
Announcement speak only as of the date of such statement and (other than in
accordance with their legal or regulatory obligations) neither the Company,
nor the Bookrunner nor Beaumont Cornish nor any of their respective
associates, directors, officers or advisers shall be obliged to update such
statements. Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future performance,
unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

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