TIDMPHAR
RNS Number : 0299L
Pharos Energy PLC
28 April 2020
Pharos Energy plc
("Pharos" or the "Company" or, together with its subsidiaries,
the "Group")
DIRECTOR/PDMR SHAREHOLDINGS
Increases in Director Shareholdings
The Company announces that on, 27 April 2020, Persons
Discharging Managerial Responsibilities ("PDMRs") increased their
shareholdings pursuant to the vesting and exercise of share awards
("Awards") under the Company's Deferred Share Bonus Plan 2014
("DSBP") over ordinary shares of GBP0.05 each in the Company
("Shares"), as set out in the table below. The Awards were
originally granted in 2018 to vest after two years in respect of a
proportion of the performance related annual bonus earned in the
2017 financial year.
The Board has determined that, in this instance, it serves the
best interest of the Company and its shareholders, with the
agreement of the PDMRs, to deliver only the net number of Shares
after deducting the number of Shares that otherwise would be sold
in the market to settle the tax liabilities associated with the
settlement of these Awards. Therefore, no Shares will be sold, as
the associated tax liabilities will be settled by the Company, and
the PDMRs are retaining the net shares received. The shares being
delivered to the PDMRs are from those held by the Pharos employee
benefit trust to satisfy such awards. There is therefore no
increase in the issued share capital of the Company as a result of
the vesting and exercise of these awards.
Director Awards Vested Shares to Shares to Total number % of Company's
be deducted be delivered of Shares Issued Capital
for associated held following (excluding
tax purchase treasury
shares)
Ed Story 245,681 99,240 146,441 14,320,188(1) 3.602%
============== ================ ============== ================ ================
Jann Brown 152,760 73,325 79,435 573,236 0.144%
============== ================ ============== ================ ================
Dr Mike
Watts 152,760 71,798 80,962 708,157 0.178%
============== ================ ============== ================ ================
1. 12,645,188 Shares (3.18%) are held personally by E Story.
1,675,000 Shares (0.42%) are held through The Story Family Trust, a
closely associated person to Ed Story.
For further information, please contact:
Pharos Energy plc Tel: 0207 603 1515
Tony Hunter, Company Secretary
Notes to editors
Pharos Energy is an independent oil and gas exploration and
production company with a focus on sustainable growth and returns
to stakeholders, headquartered in London and listed on the London
Stock Exchange.
Pharos has production, development and exploration interests in
Egypt, Israel and Vietnam.
In Egypt, Pharos holds a 100% working interest in the El Fayum
oil concession in the low-cost and highly prolific Western Desert,
one of Egypt's most established and prolific hydrocarbon basins.
The concession produces from 10 fields and is located 80 km south
west of Cairo and close to local energy infrastructure. It is
operated by Petrosilah a 50/50 JV between Pharos and Egyptian
General Petroleum Corporation (EGPC). Pharos is also an operator
with 100% working interest in the North Beni Suef (NBS) Concession
which is located immediately south of the El Fayum concession.
In Israel, Pharos together with Cairn Energy plc and Israel's
Ratio Oil Exploration, were successful in their bid for eight
blocks in the second offshore bid round in Israel. Each party has
an equal working interest and Cairn is the operator.
In Vietnam, Pharos holds a 30.5% working interest in the Te Giac
Trang (TGT) Field in Block 16-1, which is operated by the Hoang
Long Joint Operating Company. Block 16-1 is located in the shallow
water Cuu Long Basin, offshore southern Vietnam and a 25% working
interest in the Ca Ngu Vang (CVN) Field in Block 9-2, which is
operated by the Hoan Vu Joint Operating Company. Block 9-2 is
located in the shallow water Cuu Long Basin, offshore southern
Vietnam. Pharos also holds a 70% interest in and is designated
operator of Blocks 125 & 126, located in the moderate to deep
water Phu Khanh Basin, north east of the Cuu Long Basin, offshore
central Vietnam.
1 Details of the person discharging managerial responsibilities
a) Name ED STORY
========================== ==============================================
2 Reason for the notification
==========================================================================
a) Position/status Chief Executive Officer
========================== ==============================================
b) Initial notification Initial notification
/Amendment
========================== ==============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
==========================================================================
a) Name PHAROS ENERGY PLC
========================== ==============================================
b) LEI 549300DDKLXYLLO4N524
========================== ==============================================
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 ORDINARY SHARES OF GBP0.05 EACH ("SHARES")
financial instrument,
type of instrument
GB00B572ZV91
Identification code
========================== ==============================================
b) Nature of the transaction Acquisition of shares following settlement
of share awards under the Company's Deferred
Share Bonus Plan 2014.
========================== ==============================================
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 146,441
==========
========================== ==============================================
d) Aggregated information N/A single transaction
========================== ==============================================
e) Date of the transaction 27/04/20
========================== ==============================================
f) Place of the transaction Outside a trading venue
========================== ==============================================
1 Details of the person discharging managerial responsibilities
a) Name JANN BROWN
========================== ==============================================
2 Reason for the notification
==========================================================================
a) Position/status Managing Director and Chief Financial Officer
========================== ==============================================
b) Initial notification Initial notification
/Amendment
========================== ==============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
==========================================================================
a) Name PHAROS ENERGY PLC
========================== ==============================================
b) LEI 549300DDKLXYLLO4N524
========================== ==============================================
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 ORDINARY SHARES OF GBP0.05 EACH
financial instrument,
type of instrument
GB00B572ZV91
Identification code
========================== ==============================================
b) Nature of the transaction Acquisition of shares following settlement
of share awards under the Company's Deferred
Share Bonus Plan 2014.
========================== ==============================================
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 79,435
==========
========================== ==============================================
d) Aggregated information N/A single transaction
========================== ==============================================
e) Date of the transaction 27/04/20
========================== ==============================================
f) Place of the transaction Outside a trading venue
========================== ==============================================
1 Details of the person discharging managerial responsibilities
a) Name MIKE WATTS
========================== ==============================================
2 Reason for the notification
==========================================================================
a) Position/status Managing Director
========================== ==============================================
b) Initial notification Initial notification
/Amendment
========================== ==============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
==========================================================================
a) Name PHAROS ENERGY PLC
========================== ==============================================
b) LEI 549300DDKLXYLLO4N524
========================== ==============================================
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 ORDINARY SHARES OF GBP0.05 EACH
financial instrument,
type of instrument
GB00B572ZV91
Identification code
========================== ==============================================
b) Nature of the transaction Acquisition of shares following settlement
of share awards under the Company's Deferred
Share Bonus Plan 2014.
========================== ==============================================
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 80,962
==========
========================== ==============================================
d) Aggregated information N/A single transaction
========================== ==============================================
e) Date of the transaction 27/04/20
========================== ==============================================
f) Place of the transaction Outside a trading venue
========================== ==============================================
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END
DSHSEMFIWESSELL
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April 28, 2020 02:00 ET (06:00 GMT)
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