TIDMPPP

RNS Number : 7801F

Pennpetro Energy PLC

02 November 2018

2 November 2018

Pennpetro Energy Plc

("Pennpetro" or the "Company")

Grant of Options

The Company announces that, as outlined and in line with the prospectus published on 15th December 2017, on 2nd November 2018 it granted options under the Pennpetro Energy Plc Option Share Plan with an exercise price of GBP0.35p per share over, in aggregate, 1,700,000 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") (the "Options") to Directors Keith Edelman, Phillip Nash, Tom Evans and Olof Rapp, who will each receive 425,000 Options.

As a result of these Options being granted, the interests of the Directors in options over Ordinary Shares is as follows:

 
 Director                        Options granted   Total Options 
 Keith Edelman (Non-executive 
  director and Chairman)                 425,000         425,000 
 Olof Rapp (Senior 
  non-executive director)                425,000         425,000 
 Tom Evans (Executive 
  director)                              425,000         425,000 
 Phillip Nash (Non-executive 
  director and Chief 
  Financial Officer)                     425,000         425,000

The Options shall vest and become exercisable on the 2nd November 2021, being three years from the date of grant of the Options.

The Options are equivalent to 2.4 per cent. of the Company's current issued share capital. The total number of Ordinary Shares currently in issue is 70,900,000.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
1.  Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                            Keith Graham Edelman 
2.  Reason for the Notification 
a)  Position/status                 Non-executive director and Chairman 
b)  Initial notification            Initial notification 
     / Amendment 
3.  Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
a)  Name                            PennPetro Energy Plc 
b)  LEI                             213800BNN7UN97NVP509 
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                  Grant of options over 
     the Financial                    ordinary shares of 
     instrument, type                 GBP0.01 
     of instrument 
    Identification                  ISIN: GB00BF2K5076 
     code 
b)  Nature of the                   Grant of options 
     transaction 
c)  Price(s) and volume(s)          Price(s)  Volume(s) 
                                     35p       425,000 
d)        Aggregated information:   N/A 
            *    Aggregated volume 
 
 
            *    Price 
e)  Date of the transaction         2 November 2018 
f)  Place of the                    Off market transaction 
     transaction 
 
 
1.  Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                               Olof Rapp 
2.  Reason for the Notification 
a)  Position/status                    Senior non-executive director 
b)  Initial notification               Initial notification 
     / Amendment 
3.  Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
a)  Name                               PennPetro Energy Plc 
b)  LEI                                213800BNN7UN97NVP509 
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                     Grant of options over 
     the Financial                       ordinary shares of 
     instrument, type                    GBP0.01 
     of instrument 
    Identification                     ISIN: GB00BF2K5076 
     code 
b)  Nature of the                      Grant of options 
     transaction 
c)  Price(s) and volume(s)             Price(s)  Volume(s) 
                                        35p       425,000 
d)        Aggregated information:      N/A 
            *    Aggregated volume 
 
 
            *    Price 
e)  Date of the transaction            2 November 2018 
f)  Place of the                       Off market transaction 
     transaction 
 
 
1.  Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                                   Tom Evans 
2.  Reason for the Notification 
a)  Position/status                        Executive director 
b)  Initial notification                   Initial notification 
     / Amendment 
3.  Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
a)  Name                                   PennPetro Energy Plc 
b)  LEI                                    213800BNN7UN97NVP509 
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                         Grant of options over 
     the Financial                           ordinary shares of 
     instrument, type                        GBP0.01 
     of instrument 
    Identification                         ISIN: GB00BF2K5076 
     code 
b)  Nature of the                          Grant of options 
     transaction 
c)  Price(s) and volume(s)                 Price(s)  Volume(s) 
                                            35p       425,000 
d)        Aggregated information:          N/A 
            *    Aggregated volume 
 
 
            *    Price 
e)  Date of the transaction                2 November 2018 
f)  Place of the                           Off market transaction 
     transaction 
 
 
1.  Details of the person discharging managerial responsibilities 
     / person closely associated 
a)  Name                            Phillip Nash 
2.  Reason for the Notification 
a)  Position/status                 Non-executive director and Chief Financial 
                                     Officer 
b)  Initial notification            Initial notification 
     / Amendment 
3.  Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
a)  Name                            PennPetro Energy Plc 
b)  LEI                             213800BNN7UN97NVP509 
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                  Grant of options over 
     the Financial                    ordinary shares of 
     instrument, type                 GBP0.01 
     of instrument 
    Identification                  ISIN: GB00BF2K5076 
     code 
b)  Nature of the                   Grant of options 
     transaction 
c)  Price(s) and volume(s)          Price(s)  Volume(s) 
                                     35p       425,000 
d)        Aggregated information:   N/A 
            *    Aggregated volume 
 
 
            *    Price 
e)  Date of the transaction         2 November 2018 
f)  Place of the                    Off market transaction 
     transaction

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries

Pennpetro Energy Plc

88 Whitfield Street

First Floor

London

W1T 4EZ

tme@pennpetroenergy.co.uk

 
 Instinctif 
                                                    +44 (0)20 7457 
 David Simonson    david.simonson@instinctif.com     2020 
                                                    +44 (0)20 7457 
 George Yeomans    george.yeomans@instinctif.com     2020

NOTES TO EDITORS

Pennpetro Energy is an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA. Shares in the company were admitted to the Official List of the London Stock Exchange by way of a Standard Listing on 21 December 2017.

Further information on the Company can be found at www.pennpetroenergy.co.uk

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 or visit www.rns.com.

END

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November 02, 2018 03:00 ET (07:00 GMT)

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