TIDMJOG

RNS Number : 9802J

Jersey Oil and Gas PLC

03 May 2022

3 May 2022

Jersey Oil and Gas plc

("Jersey Oil & Gas" or the "Company")

Grant of Share Options

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf ("UKCS") region of the North Sea, announces that, on 29 April 2022, it granted options over, in aggregate, 990,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to directors, senior management and employees at an exercise price of 230 pence per Ordinary Share (the "Options"), being the middle market closing price on 29 April 2022, the latest practicable date prior to this announcement.

Accordingly, a total of 3,594,002 option awards are outstanding following these latest grants, which represents approximately 11.0 per cent. of the Company's existing issued share capital of 32,554,293 Ordinary Shares.

Executive Directors

The following new Options have been granted to Executive Directors and/or Officers of the Company:

 
 Name                 Position         Number       Exercise      Exercise    Total Options 
                                       of New       Price Per      Period     Held Following 
                                       Options      Ordinary                    This Grant 
                                       Granted    Share (pence) 
                  Chief Executive 
 Andrew Benitz     Officer            290,000         230         7 years        650,000 
                 ------------------  ---------  ---------------  ---------  ---------------- 
                  Chief Financial 
 Graham Forbes     Officer            150,000         230         7 years        500,000 
                 ------------------  ---------  ---------------  ---------  ---------------- 
                  Chief Commercial 
 Richard Smith     Officer            150,000         230         7 years        500,000 
                 ------------------  ---------  ---------------  ---------  ---------------- 
 

The new Options set out in the table above for Executive Directors and/or Officer's all vest in three equal tranches (one, two and three years from the date of grant) and are subject to the satisfaction of certain performance conditions to be determined and interpreted at the discretion of the Remuneration Committee. Subject to vesting and such performance conditions being met, the new Options are exercisable for up to seven years from their date of grant and will lapse if not exercised by such date.

Non-Executive Directors

The following new Options have been granted to Non-Executive Directors of the Company:

 
 Name              Position          Number of        Exercise      Exercise    Total Options 
                                     New Options      Price Per      Period     Held Following 
                                       Granted        Ordinary                    This Grant 
                                                    Share (pence) 
                   Non-Executive 
 Les Thomas         Chairman           75,000           230         5 years        75,000 
                  ---------------  -------------  ---------------  ---------  ---------------- 
                   Non-Executive 
 Marcus Stanton     Director           30,000           230          5 years       110,000 
                  ---------------  -------------  ---------------  ---------  ---------------- 
                   Non-Executive 
 Frank Moxon        Director           30,000           230         5 years        80,000 
                  ---------------  -------------  ---------------  ---------  ---------------- 
 

The new Options set out in the table above for Non-Executive Directors all vest in three equal tranches (one, two and three years from the date of grant) and have no performance conditions. Subject to vesting, the new Options are exercisable for up to five years from their date of grant and will lapse if not exercised by such date.

Senior Management and Employees

A further 265,000 new Options, in aggregate, have been granted to certain other members of senior management and employees at the same exercise price of 230 pence per Ordinary Share.

Enquiries :

 
 Jersey Oil and Gas      Andrew Benitz, CEO    C/o Camarco: 
  plc                                           Tel: 020 3757 4983 
 Strand Hanson Limited   James Harris          Tel: 020 7409 3494 
                          Matthew Chandler 
                          James Bellman 
 Arden Partners plc      Paul Shackleton       Tel: 020 7614 5900 
 finnCap Ltd             Christopher Raggett   Tel: 020 7220 0500 
                          Tim Redfern 
 Camarco                 Billy Clegg           Tel: 020 3757 4983 
                          James Crothers 
 

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.

PDMR Notification Forms :

The notifications below are made in accordance with the requirements of MAR.

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              Andrew Benitz 
     --------------------------------  -------------------------------------- 
 2.   Reason for the Notification 
     ------------------------------------------------------------------------ 
 a)   Position/status                   Chief Executive Officer (Director) 
     --------------------------------  -------------------------------------- 
 b)   Initial notification/amendment    Initial notification 
     --------------------------------  -------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------ 
 a)   Name                              Jersey Oil & Gas plc 
     --------------------------------  -------------------------------------- 
 b)   LEI                               213800RIR1SZC1734G32 
     --------------------------------  -------------------------------------- 
 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 over ordinary shares of 1 
       instrument, type of instrument    pence each in the Company 
     --------------------------------  -------------------------------------- 
      Identification code               GB00BYN5YK77 
     --------------------------------  -------------------------------------- 
 b)   Nature of the Transaction         Grant of Options over ordinary shares 
                                         of 1 pence each in the Company 
     --------------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)            Price(s) Volume(s) 
                                         230p 290,000 
     --------------------------------  -------------------------------------- 
 d)   Aggregated information            N/A (Single transaction) 
       Aggregated volume Price 
     --------------------------------  -------------------------------------- 
 e)   Date of the transaction           29 April 2022 
     --------------------------------  -------------------------------------- 
 f)   Place of the transaction          Outside of a trading venue 
     --------------------------------  -------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              Les Thomas 
     --------------------------------  -------------------------------------- 
 2.   Reason for the Notification 
     ------------------------------------------------------------------------ 
 a)   Position/status                   Chairman 
     --------------------------------  -------------------------------------- 
 b)   Initial notification/amendment    Initial notification 
     --------------------------------  -------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------ 
 a)   Name                              Jersey Oil & Gas plc 
     --------------------------------  -------------------------------------- 
 b)   LEI                               213800RIR1SZC1734G32 
     --------------------------------  -------------------------------------- 
 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 over ordinary shares of 1 
       instrument, type of instrument    pence each in the Company 
     --------------------------------  -------------------------------------- 
      Identification code               GB00BYN5YK77 
     --------------------------------  -------------------------------------- 
 b)   Nature of the Transaction         Grant of Options over ordinary shares 
                                         of 1 pence each in the Company 
     --------------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)            Price(s) Volume(s) 
                                         230p 75,000 
     --------------------------------  -------------------------------------- 
 d)   Aggregated information            N/A (Single transaction) 
       Aggregated volume Price 
     --------------------------------  -------------------------------------- 
 e)   Date of the transaction           29 April 2022 
     --------------------------------  -------------------------------------- 
 f)   Place of the transaction          Outside of a trading venue 
     --------------------------------  -------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              Marcus Stanton 
     --------------------------------  -------------------------------------- 
 2.   Reason for the Notification 
     ------------------------------------------------------------------------ 
 a)   Position/status                   Non-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                              Jersey Oil & Gas plc 
     --------------------------------  -------------------------------------- 
 b)   LEI                               213800RIR1SZC1734G32 
     --------------------------------  -------------------------------------- 
 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 over ordinary shares of 1 
       instrument, type of instrument    pence each in the Company 
     --------------------------------  -------------------------------------- 
      Identification code               GB00BYN5YK77 
     --------------------------------  -------------------------------------- 
 b)   Nature of the Transaction         Grant of Options over ordinary shares 
                                         of 1 pence each in the Company 
     --------------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)            Price(s) Volume(s) 
                                         230p 30,000 
     --------------------------------  -------------------------------------- 
 d)   Aggregated information            N/A (Single transaction) 
       Aggregated volume Price 
     --------------------------------  -------------------------------------- 
 e)   Date of the transaction           29 April 2022 
     --------------------------------  -------------------------------------- 
 f)   Place of the transaction          Outside of a trading venue 
     --------------------------------  -------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              Frank Moxon 
     --------------------------------  -------------------------------------- 
 2.   Reason for the Notification 
     ------------------------------------------------------------------------ 
 a)   Position/status                   Non-Executive Director (Director) 
     --------------------------------  -------------------------------------- 
 b)   Initial notification/amendment    Initial notification 
     --------------------------------  -------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------ 
 a)   Name                              Jersey Oil & Gas plc 
     --------------------------------  -------------------------------------- 
 b)   LEI                               213800RIR1SZC1734G32 
     --------------------------------  -------------------------------------- 
 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 over ordinary shares of 1 
       instrument, type of instrument    pence each in the Company 
     --------------------------------  -------------------------------------- 
      Identification code               GB00BYN5YK77 
     --------------------------------  -------------------------------------- 
 b)   Nature of the Transaction         Grant of Options over ordinary shares 
                                         of 1 pence each in the Company 
     --------------------------------  -------------------------------------- 
 c)   Price(s) and volume(s)            Price(s) Volume(s) 
                                         230p 30,000 
     --------------------------------  -------------------------------------- 
 d)   Aggregated information            N/A (Single transaction) 
       Aggregated volume Price 
     --------------------------------  -------------------------------------- 
 e)   Date of the transaction           29 April 2022 
     --------------------------------  -------------------------------------- 
 f)   Place of the transaction          Outside of a trading venue 
     --------------------------------  -------------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                              Graham Forbes 
     --------------------------------  ----------------------------------- 
 2.   Reason for the Notification 
     --------------------------------------------------------------------- 
 a)   Position/status                   Chief Financial Officer (Director) 
     --------------------------------  ----------------------------------- 
 b)   Initial notification/amendment    Initial notification 
     --------------------------------  ----------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------- 
 a)   Name                              Jersey Oil & Gas plc 
     --------------------------------  ----------------------------------- 
 b)   LEI                               213800RIR1SZC1734G32 
     --------------------------------  ----------------------------------- 
 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 over ordinary shares 
       instrument, type of instrument    of 1 penny each in the Company 
     --------------------------------  ----------------------------------- 
      Identification code               GB00BYN5YK77 
     --------------------------------  ----------------------------------- 
 b)   Nature of the Transaction         Grant of Options over ordinary 
                                         shares of 1 penny each in the 
                                         Company 
     --------------------------------  ----------------------------------- 
 c)   Price(s) and volume(s)            Price(s) Volume(s) 
                                         230p 150,000 
     --------------------------------  ----------------------------------- 
 d)   Aggregated information            N/A (Single transaction) 
       Aggregated volume Price 
     --------------------------------  ----------------------------------- 
 e)   Date of the transaction           29 April 2022 
     --------------------------------  ----------------------------------- 
 f)   Place of the transaction           Outside of a trading venue 
     --------------------------------  ----------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                               Richard Smith 
     ---------------------------------  -------------------------------- 
 2.   Reason for the Notification 
     ------------------------------------------------------------------- 
 a)   Position/status                    Chief Commercial Officer 
     ---------------------------------  -------------------------------- 
 b)   Initial notification/amendment     Initial notification 
     ---------------------------------  -------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                               Jersey Oil & Gas plc 
     ---------------------------------  -------------------------------- 
 b)   LEI                                213800RIR1SZC1734G32 
     ---------------------------------  -------------------------------- 
 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 over ordinary shares 
       instrument, type of instrument     of 1 penny each in the Company 
     ---------------------------------  -------------------------------- 
      Identification code                GB00BYN5YK77 
     ---------------------------------  -------------------------------- 
 b)   Nature of the Transaction          Grant of Options over ordinary 
                                          shares of 1 penny each in the 
                                          Company 
     ---------------------------------  -------------------------------- 
 c)   Price(s) and volume(s)             Price(s) Volume(s) 
                                          230p 150,000 
     ---------------------------------  -------------------------------- 
 d)   Aggregated information             N/A (Single transaction) 
       Aggregated volume Price 
     ---------------------------------  -------------------------------- 
 e)   Date of the transaction            29 April 2022 
     ---------------------------------  -------------------------------- 
 f)   Place of the transaction           Outside of a trading venue 
     ---------------------------------  -------------------------------- 
 

END

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May 03, 2022 02:01 ET (06:01 GMT)

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