Ithaca Energy PLC Director/PDMR Shareholding (6021V)
04 Diciembre 2023 - 8:22AM
UK Regulatory
TIDMITH TIDMTTM
RNS Number : 6021V
Ithaca Energy PLC
04 December 2023
4 December 2023
ITHACA ENERGY PLC
("Ithaca Energy" or the "Company")
Directors'/PDMR Shareholdings
As set out in the Company's prospectus published on 9 November
2022 (the "Prospectus"), prior to the admission of the Company's
shares to trading on the London Stock Exchange ("Admission"), Gilad
Myserson, Executive Chairman of the Company, entered into a
Management Equity Plan ("MEP") and share subscription and bonus
agreement (the " Share Subscription Agreement ") with the Company.
As part of the MEP, Mr Myerson entered into a contractual
arrangement to receive a one-time cash payment (the "Aggregate
Guaranteed Payment"), in return for a portion of the shares that Mr
Myerson was awarded as part of the MEP, currently held in
trust.
As set out in the Prospectus, the purpose of the MEP was to
operate as a floor on the value that Mr Myerson would receive as
part of the MEP in recognition of his contribution to value
creation for the Company from 2019 onwards and in lieu of the
incentive arrangements forfeited by him on commencing employment
with the Ithaca Energy group.
Pursuant to the MEP, and as disclosed in the Prospectus, Mr
Myerson was, subject to certain circumstances, entitled to receive
shares which, on Admission, had a value equal to 1.3% of the market
value of the Company above a fixed hurdle of US$2.5 billion.
The Group today announces that it was notified on 1 December
2023 that Mr Myerson transferred his interest in 1,822,286 ordinary
shares in the Company (the "Shares"), for nominal value, to
Computershare Trustees (Jersey) Limited, as trustee of The Ithaca
Energy Plc Employee Benefit Trust (the "EBT"). Prior to the
transfer, Mr Myerson owned a total of 3,225,045 ordinary shares in
the Company, representing 0.32% of total issued share capital.
Following the transfer of the Shares, Mr Myerson will hold
1,402,759 ordinary shares in the Company, equivalent to 0.14% of
the total issued share capital of the Company.
The Shares will be transferred from Mr Myerson to the Company's
EBT and will be held by the EBT for the purpose of satisfying share
options and other incentive awards granted to employees of the
Company pursuant to the Company's various employee share incentive
plans, following the vesting of such options and awards.
Full details of the Aggregate Guaranteed Payment will be set out
in the Directors' Remuneration Report included in the Company's
Annual Report and Accounts for the current financial year.
The information contained in the notifications below are
disclosed in accordance with Article 19 of the Market Abuse
Regulation.
1. Details of PDMR
(a) Name Gilad Myerson
------------------------- -----------------------------------------------
(b) Position / Executive Chair
status
------------------------- -----------------------------------------------
(c) Initial notification 1 December 2023
------------------------- -----------------------------------------------
1. Details of the issuer
--------------------------------------------------------------------------
(a) Name Ithaca Energy plc
------------------------- -----------------------------------------------
(b) LEI 21380057TNFLXPXBIP34
------------------------- -----------------------------------------------
2. 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 Ordinary Shares
of the financial
instrument
------------------------- -----------------------------------------------
(b) Nature of the Disposal of interest in Ordinary Shares
transaction
------------------------- -----------------------------------------------
(c) Price(s) and Price(s) Volume(s)
volume(s) GBP0.01 1,822,286
----------
------------------------- -----------------------------------------------
(d) Aggregated 1,822,286 shares for GBP18,222.86 in aggregate
information
* Aggregated volume
* Price
------------------------- -----------------------------------------------
(e) Date of the 1 December 2023
transaction
------------------------- -----------------------------------------------
(f) Place of the London Stock Exchange- XLON
transaction
------------------------- -----------------------------------------------
Enquiries
Ithaca Energy
Kathryn Reid - Head of Investor Relations, kathryn.reid@ithacaenergy.com
Corporate Affairs & Communications
FTI Consulting (PR Advisers to Ithaca
Energy) +44 (0)203 727 1000
Ben Brewerton / Nick Hennis ithaca@fticonsulting.com
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END
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