TIDMSOUC
RNS Number : 0152Z
Southern Energy Corp.
12 September 2022
SOUTHERN ENERGY CORP. ANNOUNCES STOCK OPTION AND RESTRICTED
SHARE AWARD GRANT
Calgary, Alberta - September 12, 2022 - Southern Energy Corp.
("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC), a
U.S.-focused, growth-oriented natural gas producer, announces that
pursuant to the Company's Stock Option Plan and Share Award
Incentive Plan, an aggregate of 4,000,000 stock options ("Options")
to purchase common shares of the Company ("Common Shares") and
2,495,700 restricted share awards ("RSAs") were granted as part of
Southern's overall compensation and employee retention program.
The Options expire in five years from the date of the grant and
are exercisable at a price of CAD$1.01 per Common Share, being the
closing market price on the TSXV on the day prior to this
announcement. The Options vest as to one third on the grant date
and one third on each of the first and second anniversaries of the
grant date. The RSAs vest as to one third on each of the first,
second and third anniversaries of the grant date. On the vesting
dates of such RSAs, the holder is entitled to receive a cash
payment or its equivalent in fully paid Common Shares, at the
Company's discretion, equal to the closing market value per Common
Share on the TSXV on the business day prior to such payment.
In aggregate, 2,230,000 of the Options and 914,800 of the RSAs
were issued to directors and persons discharging managerial
responsibilities ("PDMR") of the Company, as set out below:
PDMR Position Options Awarded RSAs Awarded
Ian Atkinson President and CEO (Director) 550,000 234,400
------------------------------ ---------------- -------------
Calvin Yau CFO 420,000 220,300
------------------------------ ---------------- -------------
Gary McMurren COO 420,000 220,300
------------------------------ ---------------- -------------
Paul Baay Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
Bruce Beynon Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
Michael Kohut Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
Tamara MacDonald Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
Andrew McCreath Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
Joseph Nally Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
Neil Smith Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
Steven Smith Non-Executive Director 105,000 29,975
------------------------------ ---------------- -------------
For further information about Southern, please visit our website
at www.southernenergycorp.com or contact :
Southern Energy Corp.
Ian Atkinson (President and CEO) +1 587 287 5401
Calvin Yau (CFO) +1 587 287 5402
+44 (0) 20 7409
Strand Hanson Limited - Nominated & Financial 3494
Adviser
James Spinney / James Bellman
+44 (0) 20 7907
Hannam & Partners - Joint Broker 8500
Sam Merlin / Ernest Bell
Canaccord Genuity - Joint Broker +44 (0) 20 7523
Henry Fitzgerald-O'Connor / Gerel Bastin 8000
Camarco +44 (0) 20 3757
James Crothers, Hugo Liddy, Billy Clegg 4980
About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and
production company. Southern has a primary focus on acquiring and
developing conventional natural gas and light oil resources in the
southeast Gulf States of Mississippi, Louisiana, and East Texas.
Our management team has a long and successful history working
together and have created significant shareholder value through
accretive acquisitions, optimization of existing oil and natural
gas fields and the utilization of re-development strategies
utilizing horizontal drilling and multi-staged fracture completion
techniques.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
PDMR NOTIFICATION FORMS
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. Ian Atkinson
2. Calvin Yau
3. Gary McMurren
4. Paul Baay
5. Bruce Beynon
6. Michael Kohut
7. Tamara MacDonald
8. Andrew McCreath
9. Joseph Nally
10. Neil Smith
11. Steven Smith
------------------------------- ---------------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------
a) Position/status 1. President and CEO (Director)
2. CFO
3. COO
4. Non-Executive Director
5. Non-Executive Director
6. Non-Executive Director
7. Non-Executive Director
8. Non-Executive Director
9. Non-Executive Director
10. Non-Executive Director
11. Non-Executive Director
------------------------------- ---------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- ---------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Southern Energy Corp.
------------------------------- ---------------------------------------------
b) LEI 213800R25GL7J3EBJ698
------------------------------- ---------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 to acquire common shares in Southern
financial instrument, Energy Corp.
type of instrument
Identification code CA8428131059
b) Nature of the transaction Grant of share options
c) Price(s) and volume(s) Effective price Volumes
1. CAD$1.01 555,000
---------------- --------
2. CAD$1.01 420,000
---------------- --------
3. CAD$1.01 420,000
---------------- --------
4. CAD$1.01 105,000
---------------- --------
5. CAD$1.01 105,000
---------------- --------
6. CAD$1.01 105,000
---------------- --------
7. CAD$1.01 105,000
---------------- --------
8. CAD$1.01 105,000
---------------- --------
9. CAD$1.01 105,000
---------------- --------
10. CAD$1.01 105,000
---------------- --------
11. CAD$1.01 105,000
---------------- --------
d) Aggregated information N/A (single transaction for each individual)
e) Date of the transaction 12 September 2022
f) Place of the transaction Outside of a trading venue
------------------------------- ---------------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. Ian Atkinson
2. Calvin Yau
3. Gary McMurren
4. Paul Baay
5. Bruce Beynon
6. Michael Kohut
7. Tamara MacDonald
8. Andrew McCreath
9. Joseph Nally
10. Neil Smith
11. Steven Smith
------------------------------- -----------------------------------------------
Reason for the notification
2
--------------------------------------------------------------------------------
a) Position/status 1. President and CEO (Director)
2. CFO
3. COO
4. Non-Executive Director
5. Non-Executive Director
6. Non-Executive Director
7. Non-Executive Director
8. Non-Executive Director
9. Non-Executive Director
10. Non-Executive Director
11. Non-Executive Director
------------------------------- -----------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------
a) Name Southern Energy Corp.
------------------------------- -----------------------------------------------
b) LEI 213800R25GL7J3EBJ698
------------------------------- -----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 Restricted Share Awards to receive common
financial instrument, shares in Southern Energy Corp. or equivalent
type of instrument cash payment, at Company's sole discretion
on vesting dates
Identification code CA8428131059
b) Nature of the transaction Grant of restricted share awards
c) Price(s) and volume(s) Effective price Volumes
1. CAD$1.01 234,400
---------------- --------
2. CAD$1.01 220,300
---------------- --------
3. CAD$1.01 220,300
---------------- --------
4. CAD$1.01 29,975
---------------- --------
5. CAD$1.01 29,975
---------------- --------
6. CAD$1.01 29,975
---------------- --------
7. CAD$1.01 29,975
---------------- --------
8. CAD$1.01 29,975
---------------- --------
9. CAD$1.01 29,975
---------------- --------
10. CAD$1.01 29,975
---------------- --------
11. CAD$1.01 29,975
---------------- --------
d) Aggregated information N/A (single transaction for each individual)
e) Date of the transaction 12 September 2022
f) Place of the transaction Outside of a trading venue
------------------------------- -----------------------------------------------
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