CALGARY, AB, Jan. 11, 2021 /CNW/ - i3 Energy plc, an
independent oil and gas company with assets and operations in the
UK and Canada, announces that it
has issued options over a total of 13,166,358 ordinary shares
("Options") to key staff that joined its Canadian subsidiary, i3
Energy Canada Ltd., following the acquisition of Gain Energy
Limited's oil & gas assets. The options have been issued in
accordance with the rules of the Company's Employee Share Option
Plan and will have an exercise price of £0.061 per share, the
closing price on 8 January 2021.
The Options will vest as follows:
- One-third immediately;
- One-third if July 2021 production
exits at or above 9,000 boepd; and
- 100 per cent. upon the addition of 5,000 boepd or 25 MMboe 2P
reserves.
Following this announcement there is no change to the Company's
issued ordinary shares (700,054,815 ordinary shares of £0.0001
each). Shareholders may use this figure of ordinary shares as the
denominator by which they are required to notify their interest in,
or change to their interest in, the Company under the Disclosure
Guidance and Transparency Rules.
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
SOURCE i3 Energy plc