Europa Oil & Gas (Holdings) PLC Award of Options (9227T)
23 Marzo 2023 - 1:00AM
UK Regulatory
TIDMEOG
RNS Number : 9227T
Europa Oil & Gas (Holdings) PLC
23 March 2023
Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG /
Sector: Oil & Gas
23 March 2023
Europa Oil & Gas (Holdings) plc
("Europa" or the "Company")
Award of Options
Europa Oil & Gas (Holdings) plc, the AIM traded UK and
Ireland focused oil and gas exploration, development, and
production company, announces that the Board of Directors has
agreed to issue options over a total of 6,520,000 ordinary shares
of 1 penny each in the capital of the Company (the "Share Options")
to William Holland and certain employees of the Company, under
Europa's existing Enterprise Management Incentive (EMI) Share
Option Plan. Grants were determined by a mix of salary percentage
and fixed amounts.
The Share Options, which have an exercise price of 1.1418 [1]
pence per Ordinary Share, shall vest in three equal tranches after
each of 12, 24 and 36 months and are valid until 22 March 2029.
Exercise of the Share Options is conditional on the closing average
mid-market price of an Ordinary Share exceeding the exercise price
by two times for 30 consecutive trading days.
The details of the Share Options to be granted are set out
below:
Option Holder Number of Share Options Issued
William Holland 4,000,000
-------------------------------
Other employees 2,520,000
-------------------------------
The notification below, made in accordance with the requirements
of UK Market Abuse Regulation, provides further details.
* * ENDS * *
For further information, please visit www.europaoil.com or
contact:
William Holland / Murray Europa Oil & Gas (Holdings) mail@europaoil.com
Johnson plc
Strand Hanson Limited
- Nominated & Financial +44 (0) 20 7409
James Dance / James Spinney Adviser 3494
+44 (0) 20 7186
Peter Krens Tennyson Securities 9033
Patrick d'Ancona / Finlay + 44 (0) 20 7390
Thomson / Kendall Hill Vigo Consulting 0230
Notes to Editors
Europa Oil & Gas (Holdings) plc has a diversified portfolio
of multi-stage hydrocarbon assets which includes production,
development and exploration interests, in countries that are
politically stable, have transparent licensing processes, and offer
attractive terms. Production for the year ending 31 July 2022 was
245 bopd. In April 2022, Europa farmed into P.2358, Block 13/23c
("Serenity") in the Outer Moray Firth area of the North Sea. The
licence contains the 2019 Serenity oil discovery, in which Europa
now has a 25% interest. The Company holds one exploration licence
offshore Ireland, which has the potential to host gross mean
un-risked prospective resources of 1.5 trillion cubic feet ("tcf")
gas. Inishkea is a near field gas prospect in the Slyne Basin which
the Company classifies as lower risk due to its close proximity to
the producing Corrib gas field and associated gas processing
infrastructure.
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 William Holland
------------------------------- --------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------
a) Position/status Chief Executive Officer and Executive
Director
------------------------------- --------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Europa Oil & Gas (Holdings) plc
------------------------------- --------------------------------------
b) LEI 213800JWTCW7TN3WRC06
------------------------------- --------------------------------------
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 Options over Ordinary Shares of 1p
Financial instrument, each
type of instrument
Identification code GB00B03CJS30
------------------------------- --------------------------------------
b) Nature of the transaction Grant of Options
------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1.1418p 4,000,000
----------
------------------------------- --------------------------------------
d) Aggregated information: N/A, single transaction
* Aggregated volume
* Price
------------------------------- --------------------------------------
e) Date of the transaction 22 March 2023
------------------------------- --------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- --------------------------------------
[1] Equates to the 5-day volume weighted average share price
established at close of business on the day that the options were
awarded, 22(nd) March 2023
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END
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