TIDMPPC
RNS Number : 9391F
President Energy PLC
20 November 2020
20 November 2020
PRESIDENT ENERGY PLC
("President Energy" or the "Company")
Grant of Share Options
President Energy (AIM: PPC), the upstream oil and gas company
with a diverse portfolio of production and exploration assets
focused primarily in Argentina, confirms that it has granted
options over, in aggregate, 35,000,000 1p Ordinary Shares in the
Company ("Ordinary Shares") to such of its USA and LatAm senior
management and employees stated below, all being persons
discharging managerial responsibilities (the "Options").
The new Options set out in the table below for senior management
and employees are designed to promote long-term stability and
retention among key management as well as providing performance
incentive to reward loyalty and long service.
The Options vest in two equal tranches being 12 and 24 months
from the date of grant subject always to the relevant persons still
being in the employ of the group at the relevant stages and not
under notice. Subject to vesting and such conditions being met, the
new Options are exercisable for up to six months from the vesting
date of each tranche and will lapse if not exercised by such
date.
Name/Position No of Options Date of Vesting Exercise Latest time
Grant Period Price to exercise
per share
----------------- ----------- ----------
Six months
after vesting
Jordan Coleman 5,000,000 19/11/2020 12 Months 1 Pence period
COO LatAm 5,000,000 19/11/2020 24 Months 1 Pence
----------------- ----------- ---------- -----------
Six months
after vesting
Martin Gee 1,500,000 19/11/2020 12 Months 1 Pence period
Head of Sub-Surface 2,500,000 19/11/2020 24 Months 1 Pence
----------------- ----------- ---------- -----------
Six months
after vesting
Claudia Perez 1,500,000 19/11/2020 12 Months 1 Pence period
---------------
CFO Argentina 2,500,000 19/11/2020 24 Months 1 Pence
----------------- ----------- ---------- ----------- ---------------
Six months
after vesting
Lucia D'Agostino 1,500,000 19/11/2020 12 Months 1 Pence period
---------------
Legal & Administration
Director 2,500,000 19/11/2020 24 Months 1 Pence
----------------- ----------- ---------- ----------- ---------------
Six months
after vesting
Diego De La Vega 1,500,000 19/11/2020 12 Months 1 Pence period
---------------
Supply Chain Director 2,500,000 19/11/2020 24 Months 1 Pence
----------------- ----------- ---------- ----------- ---------------
Six months
after vesting
Ulises Macagno 1,500,000 19/11/2020 12 Months 1 Pence period
---------------
Commercial Director 2,500,000 19/11/2020 24 Months 1 Pence
----------------- ----------- ---------- ----------- ---------------
Six months
after vesting
Scott Daspit 2,500,000 19/11/2020 12 Months 1 Pence period
---------------
Head of Operations
USA 2,500,000 19/11/2020 24 Months 1 Pence
----------------- ----------- ---------- ----------- ---------------
35,000,000
Excluding the new Options, the Company has existing outstanding
awards including adjustments for lapsed or cancelled option awards
of 23,866,664 representing 1.18% of the Issued Share Capital which
in the view of the Directors are very unlikely to be exercised.
With the addition of the grant of the new Options contained within
this announcement, the total amount of share options granted to
management to acquire ordinary shares is in aggregate 58,866,664
representing 2.92% of the Company's current issued share
capital.
Contact:
President Energy PLC
Rob Shepherd, Group FD +44 (0) 207 016 7950
Nikita Levine, Investor Relations info@presidentpc.com
finnCap (Nominated Advisor)
Christopher Raggett, Charlie Beeson +44 (0) 207 220 0500
Shore Capital (Corporate Broker)
Jerry Keen, Antonio Bossi +44 (0) 207 408 4090
Notes to Editors
President Energy is an oil and gas company listed on the AIM
market of the London Stock Exchange (PPC.L) primarily focused in
Argentina, with a diverse portfolio of operated onshore producing
and exploration assets.
The Company has operated interests in the Puesto Flores,
Estancia Vieja, Puesto Prado and Las Bases Concessions, and
Angostura exploration contract, all of which are situated in the
Rio Negro Province in the Neuquén Basin of Argentina and in the
Puesto Guardian Concession, in the Noroeste Basin in NW Argentina.
Alongside this, President Energy has cash generative production
assets in Louisiana, USA and further significant exploration and
development opportunities through its acreage in Paraguay and
Argentina.
The Group is also actively pursuing value accretive acquisitions
of high-quality production and development assets in Argentina
capable of delivering positive cash flows and shareholder returns.
With a strong institutional base of support, including the IFC,
part of the World Bank Group as well as the international commodity
trader and logistics company Trafigura, an in-country management
team as well as a Board whose interests are aligned to those of its
shareholders, President Energy gives UK investors access to the
Argentina energy growth story combined with world class standards
of corporate governance, environmental and social
responsibility.
This announcement contains inside information for the purposes
of article 7 of Regulation 596/2014
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Jordan Coleman
-------------------------------------- -------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Chief Operating Officer
Latin America
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: President Energy plc
-------------------------------------- -------------------------------
b) LEI: 213800MA2ZN22I4ITA79
-------------------------------------- -------------------------------
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 Ordinary Shares of 1p each
instrument, type of instrument: ISIN: GB00B3DDP128
Identification code:
-------------------------------------- -------------------------------
b) Nature of the transaction: Grant of Share Options
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 10,000,000
-----------
-------------------------------------- -------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 19 November 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Outside a trading venue
-------------------------------------- -------------------------------
5. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Scott Daspit
-------------------------------------- -------------------------------
6. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Head of Operations USA
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
7. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: President Energy plc
-------------------------------------- -------------------------------
b) LEI: 213800MA2ZN22I4ITA79
-------------------------------------- -------------------------------
8. 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 Ordinary Shares of 1p each
instrument, type of instrument: ISIN: GB00B3DDP128
Identification code:
-------------------------------------- -------------------------------
b) Nature of the transaction: Grant of Share Options
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 5,000,000
----------
-------------------------------------- -------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 19 November 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Outside a trading venue
-------------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Martin Gee
-------------------------------------- -------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Head of Sub-Surface
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: President Energy plc
-------------------------------------- -------------------------------
b) LEI: 213800MA2ZN22I4ITA79
-------------------------------------- -------------------------------
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 Ordinary Shares of 1p each
instrument, type of instrument: ISIN: GB00B3DDP128
Identification code:
-------------------------------------- -------------------------------
b) Nature of the transaction: Grant of Share Options
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 4,000,000
----------
-------------------------------------- -------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 19 November 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Outside a trading venue
-------------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Claudia Perez
-------------------------------------- -------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Chief Financial Officer
Argentina
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: President Energy plc
-------------------------------------- -------------------------------
b) LEI: 213800MA2ZN22I4ITA79
-------------------------------------- -------------------------------
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 Ordinary Shares of 1p each
instrument, type of instrument: ISIN: GB00B3DDP128
Identification code:
-------------------------------------- -------------------------------
b) Nature of the transaction: Grant of Share Options
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 4,000,000
----------
-------------------------------------- -------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 19 November 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Outside a trading venue
-------------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Lucia D'Agostino
-------------------------------------- -------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Legal & Administration
Director
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: President Energy plc
-------------------------------------- -------------------------------
b) LEI: 213800MA2ZN22I4ITA79
-------------------------------------- -------------------------------
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 Ordinary Shares of 1p each
instrument, type of instrument: ISIN: GB00B3DDP128
Identification code:
-------------------------------------- -------------------------------
b) Nature of the transaction: Grant of Share Options
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 4,000,000
----------
-------------------------------------- -------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 19 November 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Outside a trading venue
-------------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Diego De La Vega
-------------------------------------- -------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Supply Chain Director
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: President Energy plc
-------------------------------------- -------------------------------
b) LEI: 213800MA2ZN22I4ITA79
-------------------------------------- -------------------------------
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 Ordinary Shares of 1p each
instrument, type of instrument: ISIN: GB00B3DDP128
Identification code:
-------------------------------------- -------------------------------
b) Nature of the transaction: Grant of Share Options
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 4,000,000
----------
-------------------------------------- -------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 19 November 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Outside a trading venue
-------------------------------------- -------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Ulises Macagno
-------------------------------------- -------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Commercial Director
-------------------------------------- -------------------------------
b) Initial notification/Amendment: Initial notification
-------------------------------------- -------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: President Energy plc
-------------------------------------- -------------------------------
b) LEI: 213800MA2ZN22I4ITA79
-------------------------------------- -------------------------------
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 Ordinary Shares of 1p each
instrument, type of instrument: ISIN: GB00B3DDP128
Identification code:
-------------------------------------- -------------------------------
b) Nature of the transaction: Grant of Share Options
-------------------------------------- -------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1 pence 4,000,000
----------
-------------------------------------- -------------------------------
d) Aggregated information: Single transaction as in
* Aggregated volume: 4 c) above
* Price:
-------------------------------------- -------------------------------
e) Date of the transaction: 19 November 2020
-------------------------------------- -------------------------------
f) Place of the transaction: Outside a trading venue
-------------------------------------- -------------------------------
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