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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