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 
     --------------------------------  ------------------------------------------ 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHGPUWUAUPPGAQ

(END) Dow Jones Newswires

May 16, 2022 11:15 ET (15:15 GMT)

Eco (atlantic) Oil & Gas (LSE:ECO)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Eco (atlantic) Oil & Gas.
Eco (atlantic) Oil & Gas (LSE:ECO)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Eco (atlantic) Oil & Gas.