TIDMDELT

RNS Number : 6727M

Deltic Energy PLC

23 September 2021

23 September 2021

Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources

Deltic Energy Plc ("Deltic" or the "Company")

Grant of share options

Notification of transactions by directors/persons discharging managerial responsibilities

Deltic Energy Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern North Sea, announces that the Company has granted options o ver a total of 34,000,000 ordinary shares in the Company ("Ordinary Shares") to its Directors, senior management and employees (the "Options"). The Options have been granted at an exercise price of 2.05 pence each, being the closing mid-market price of an Ordinary Share on 22 September 2021, the latest practicable date prior to this announcement.

The Options have been granted as a mixture of qualifying and non-qualifying options pursuant to the Company's Enterprise Management Incentives Plan and are subject to certain share price performance criteria as detailed below.

The Options may vest in three equal tranches over three years, subject to meeting certain share price performance criteria and are exercisable, to the extent vested, until 10 years from the date of grant. The first tranche of one third of the Options may vest after one year from the date of grant, subject to the Company's share price increasing by at least 25% over the exercise price and remaining at or above that level for at least 30 consecutive days. The second tranche of one third of the Options may vest after two years, subject to the Company's share price increasing by at least 50% over the exercise price and remaining at or above that level for at least 30 consecutive days. The third and final tranche may vest after three years, subject to the Company's share price increasing by at least 75% over the exercise price and remaining at or above that level for at least 30 consecutive days. The earliest the Options may be exercised is three years following the date of grant.

Directors and Senior Management

The following Options have been granted to Deltic's Directors and Senior Management:

 
       Name                  Position              Number of        Total options 
                                                 Options granted    held following 
                                                                        grant 
 Graham Swindells    Chief Executive               10,000,000        48,654,096 
                    -------------------------  -----------------  ---------------- 
 Andrew Nunn         Chief Operating Officer       10,000,000        48,654,096 
                    -------------------------  -----------------  ---------------- 
 Sarah McLeod        Chief Financial Officer       5,000,000         10,032,258 
                    -------------------------  -----------------  ---------------- 
 

Other Senior Staff and Employees

A further 9,000,000 Options have been granted to certain other senior staff and employees at the same exercise price of 2.05 pence per Ordinary Share.

The Options awarded today are equivalent to 2.4% of the Company's current issued share capital. In total, 128,840,450 options over ordinary shares in the Company are now outstanding, representing approximately 9.2% of the Company's current issued share capital. The total number of Ordinary Shares currently in issue is 1,405,964,855. The FCA notification, made in accordance with the requirements of the UK Market Abuse Regulation is appended below.

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                             Graham Swindells 
     -------------------------------  -------------------------------- 
 2.   Reason for the Notification 
     ----------------------------------------------------------------- 
 a)   Position/status                  Chief Executive 
     -------------------------------  -------------------------------- 
 b)   Initial notification/Amendment    Initial notification 
     -------------------------------  -------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------- 
 a)   Name                             Deltic Energy Plc 
     -------------------------------  -------------------------------- 
 b)   LEI                              213800TS8K1D27AFP275 
     -------------------------------  -------------------------------- 
 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                     Grant of options 
       the Financial instrument,           over ordinary shares 
       type of instrument                  of 0.5p 
      Identification                   ISIN: GB00B6SYKF01 
       code 
     -------------------------------  -------------------------------- 
 b)   Nature of the transaction         Grant of Options 
     -------------------------------  -------------------------------- 
 c)   Price(s) and volume(s)            Price(s)           Volume(s) 
                                         Exercise price 
                                          2.05 pence per 
                                          share             10,000,000 
                                                           ----------- 
     -------------------------------  -------------------------------- 
 d)   Aggregated information:          n/a 
        *    Aggregated volume 
 
 
        *    Price 
     -------------------------------  -------------------------------- 
 e)   Date of the transaction          22 September 2021 
     -------------------------------  -------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
     -------------------------------  -------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                             Andrew Nunn 
     -------------------------------  -------------------------------- 
 2.   Reason for the Notification 
     ----------------------------------------------------------------- 
 a)   Position/status                  Chief Operating Officer 
     -------------------------------  -------------------------------- 
 b)   Initial notification/Amendment    Initial notification 
     -------------------------------  -------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------- 
 a)   Name                             Deltic Energy Plc 
     -------------------------------  -------------------------------- 
 b)   LEI                              213800TS8K1D27AFP275 
     -------------------------------  -------------------------------- 
 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                     Grant of options 
       the Financial instrument,           over ordinary shares 
       type of instrument                  of 0.5p 
      Identification                   ISIN: GB00B6SYKF01 
       code 
     -------------------------------  -------------------------------- 
 b)   Nature of the transaction         Grant of Options 
     -------------------------------  -------------------------------- 
 c)   Price(s) and volume(s)            Price(s)           Volume(s) 
                                         Exercise price 
                                          2.05 pence per 
                                          share             10,000,000 
                                                           ----------- 
     -------------------------------  -------------------------------- 
 d)   Aggregated information:          n/a 
        *    Aggregated volume 
 
 
        *    Price 
     -------------------------------  -------------------------------- 
 e)   Date of the transaction          22 September 2021 
     -------------------------------  -------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
     -------------------------------  -------------------------------- 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                             Sarah McLeod 
     -------------------------------  ------------------------------- 
 2.   Reason for the Notification 
     ---------------------------------------------------------------- 
 a)   Position/status                  Chief Financial Officer 
     -------------------------------  ------------------------------- 
 b)   Initial notification/Amendment    Initial notification 
     -------------------------------  ------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------- 
 a)   Name                             Deltic Energy Plc 
     -------------------------------  ------------------------------- 
 b)   LEI                              213800TS8K1D27AFP275 
     -------------------------------  ------------------------------- 
 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                     Grant of options 
       the Financial instrument,           over ordinary shares 
       type of instrument                  of 0.5p 
      Identification                   ISIN: GB00B6SYKF01 
       code 
     -------------------------------  ------------------------------- 
 b)   Nature of the transaction         Grant of Options 
     -------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)            Price(s)           Volume(s) 
                                         Exercise price 
                                          2.05 pence per 
                                          share             5,000,000 
                                                           ---------- 
     -------------------------------  ------------------------------- 
 d)   Aggregated information:          n/a 
        *    Aggregated volume 
 
 
        *    Price 
     -------------------------------  ------------------------------- 
 e)   Date of the transaction          22 September 2021 
     -------------------------------  ------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
     -------------------------------  ------------------------------- 
 

**ENDS**

For further information please contact the following:

 
 Deltic Energy Plc                                 Tel: +44 (0) 20 7887 
                                                    2630 
 Graham Swindells / Andrew Nunn / Sarah McLeod 
 
   Allenby Capital Limited (Nominated Adviser         Tel: +44 (0) 20 3328 
   & Joint Broker)                                    5656 
 David Hart / Alex Brearley (Corporate Finance) 
 Kelly Gardiner (Sales and Corporate Broking) 
 
   Stifel Nicolaus Europe Limited (Joint Broker)      Tel: +44 (0) 20 7710 
                                                      7600 
 Callum Stewart / Simon Mensley / Ashton 
  Clanfield 
 
 Vigo Consulting (IR & PR Adviser)                 Tel: +44 (0) 20 7390 
                                                    0230 
 Patrick d'Ancona / Chris McMahon / Oliver 
  Clark 
 

Notes to Editors

Deltic has created a strategically located portfolio of high-quality gas exploration licences in the Southern North Sea over several licensing rounds. These licences are located in areas that have been underexplored despite significant discoveries such as Tolmount, Breagh, Pegasus and Cygnus, most of which have gone on to be developed and could provide ready access to export infrastructure for future developments on Deltic's licence acreage.

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END

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