TIDMECO
RNS Number : 6666L
Eco (Atlantic) Oil and Gas Ltd.
16 May 2022
16 May 2022
ECO (ATLANTIC) OIL & GAS LTD.
("Eco", "Eco Atlantic", the "Company", or, together with its
subsidiaries, the "Group")
Company's Incentive Plan - Grant of RSUs
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX -- V: EOG), the
oil and gas exploration company focused on the offshore Atlantic
Margins, is pleased to announce, that the Company has granted
2,850,000 Restricted Share Units to directors, officers and
advisers, of which 2,500,000 are to existing Executives and
Directors, pursuant to the Company's Restricted Share Units Plan
(the "RSUs") and in acknowledgment of the Company's management's
recent success and increased future workload. The RSUs will vest at
each recipient's discretion and taking into account personal tax
implications and convert into 2,850,000 common shares of no par
value in the Company ("Common Shares") ("RSU Shares").
In addition, the Company announces that it has granted, to
directors, officers and advisers of the Company, options to
subscribe for up to 7,050,000 Common Shares at a price of $CAD0.50
(GBP0.32) per Common Share (the "Options"). The Options are
exercisable for a period of 5 years from the date of issue.
Application has been made for admission of 1,800,000 of the RSU
Shares, which have now vested, which will rank pari passu with
existing Common Shares, to trading on AIM ("Admission"). It is
expected that Admission will become effective, and trading will
commence at 8:00 a.m. on 23 May 2022.
Following Admission, the enlarged issued share capital of the
Company will be 309,549,605 Common Shares. The above figure may 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, the share capital of
the Company under the Disclosure and Transparency Rules.
For more information, please visit www.ecooilandgas.com or
contact the following :
Eco Atlantic Oil and Gas c/o Celicourt +44 (0) 20
8434 2754
Gil Holzman, CEO
Colin Kinley, COO
Alice Carroll, Head of Marketing and +44(0)781 729 5070 | +1 (416)
IR 318 8272
Strand Hanson Limited (Financial &
Nominated Adviser) +44 (0) 20 7409 3494
James Harris
James Bellman
Berenberg (Broker) +44 (0) 20 3207 7800
Emily Morris
Detlir Elezi
Celicourt (PR) +44 (0) 20 8434 2754
Mark Antelme
Jimmy Lea
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
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended).
Notes to editors:
About Eco Atlantic:
Eco Atlantic is a TSX-Venture Exchange and AIM quoted Atlantic
margin focused Oil & Gas Exploration Company with offshore
license interests in Guyana, Namibia, and South Africa. Eco aims to
deliver material value for its stakeholders through its role in the
energy transition to explore for low carbon consuming oil and gas
in stable emerging markets near to infrastructure.
Offshore Guyana in the proven Suriname-Guyana Basin, the Company
holds a 15% Working Interest in the 1,800 km(2) Orinduik Block
Operated by Tullow Oil, and also indirectly through a soon to be
7.3% shareholding in JHI Associates Inc. a private company which
holds a 17.5% working interest in the 4,800km(2) Canje Block
Operated by ExxonMobil. In Namibia, the Company holds Operatorship
and 85% Working Interests in four offshore Petroleum Licences:
PEL's: 97, 98, 99 and 100 totalling 28,593 km(2) in the Walvis
Basin.
Offshore South Africa, Eco will, subject to completion of its
acquisition of Azinam Group Limited, become designated Operator and
hold a 50% working interest in Block 2B, and a 20% Working Interest
of Blocks 3B/4B, totalling some 20,643 km (2) .
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
PDMR Notification Forms
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Moshe Peterburg
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Non-Executive Chairman of the Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of
no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 250,000 common
shares pursuant
to the conversion
of the RSUs
1,000,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information 1,250,000 common shares pursuant to
Aggregated volume Price the conversion of the RSUs and options
over common shares
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gil Holzman
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status President, CEO and Director of the
Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of
no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 700,000 common
shares pursuant
to the conversion
of the RSUs
1,500,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information 2,200,000 common shares pursuant to
Aggregated volume Price the conversion of the RSUs and options
over common shares
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Colin Kinley
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of
no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 700,000 common
shares pursuant
to the conversion
of the RSUs
1,500,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information 2,200,000 common shares pursuant to
Aggregated volume Price the conversion of the RSUs and options
over common shares
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gadi Levin
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of
no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 175,000 common
shares pursuant
to the conversion
of the RSUs
400,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information 575,000 common shares pursuant to
Aggregated volume Price the conversion of the RSUs and options
over common shares
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Keith Hill
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
Options to acquire common shares of
no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 250,000 common
shares pursuant
to the conversion
of the RSUs
750,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information 1,000,000 common shares pursuant to
Aggregated volume Price the conversion of the RSUs and options
over common shares
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alan Friedman
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Non-Executive Chairman of the Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Options to acquire common shares of
instrument, type of instrument no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 200,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Peter Nicol
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Non-Executive Chairman of the Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Options to acquire common shares of
instrument, type of instrument no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 400,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Helmut Angula
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Non-Executive Chairman of the Company
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Options to acquire common shares of
instrument, type of instrument no par value in the Company exercisable
for a period of 1 year
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 200,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alice Caroll
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Executive of the Company and PDMR
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- ------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- ------------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- ------------------------------------------
Identification code CA27887W1005
-------------------------------- ------------------------------------------
b) Nature of the Transaction Receipt of Common Shares
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 175,000 common
shares pursuant
to the conversion
of the RSUs
300,000 options
over common shares
--------------------
-------------------------------- ------------------------------------------
d) Aggregated information 475,000 common shares pursuant to
Aggregated volume Price the conversion of the RSUs and options
over common shares
-------------------------------- ------------------------------------------
e) Date of the transaction 16 May 2022
-------------------------------- ------------------------------------------
f) Place of the transaction N/A
-------------------------------- ------------------------------------------
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END
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May 16, 2022 11:15 ET (15:15 GMT)
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