Pharos Energy PLC Awards under Company's Long-Term Incentive Plan (6894M)
13 Mayo 2020 - 01:00AM
UK Regulatory
TIDMPHAR
RNS Number : 6894M
Pharos Energy PLC
13 May 2020
Pharos Energy plc
("Pharos" or the "Company" or, together with its subsidiaries,
the "Group")
DIRECTOR/PDMR SHAREHOLDINGS
Awards under the Company's Long-Term Incentive Plan
The Company announces that on 12 May 2020, its Persons
Discharging Managerial Responsibilities ("PDMRs") were granted the
following nil-cost share awards over ordinary shares of GBP0.05
each in the Company ("Shares") under the Company's 2011 Long Term
Incentive Plan ("LTIP").
The number of shares under such awards is normally calculated
based on a percentage of salary and the share price at the date of
grant. The number of shares under these awards this year has
instead been calculated using the higher share price at the date of
grant of last year's awards (subject to adjustments in relation to
exchange rate movements), resulting in the grant being over a
significantly lower number of shares than would otherwise be the
case.
PDMRs Position No of LTIP awards granted
Ed Story Chief Executive Officer 1,550,855
----------------------------------------------- --------------------------
Jann Brown Managing Director and Chief Financial Officer 1,550,855
----------------------------------------------- --------------------------
Dr Mike Watts Managing Director 1,550,855
----------------------------------------------- --------------------------
These awards will generally vest over three years from the date
of grant, subject to the satisfaction of certain performance
conditions and a subsequent two-year holding period.
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 Grant of nil cost options under the Pharos
Energy plc 2011 Long-Term Incentive Plan
========================== ===========================================
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,550,855
==========
========================== ===========================================
d) Aggregated information N/A single transaction
========================== ===========================================
e) Date of the transaction 12/05/20
========================== ===========================================
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 Grant of nil cost options under the Pharos
Energy plc 2011 Long-Term Incentive Plan
========================== ==============================================
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,550,855
==========
========================== ==============================================
d) Aggregated information N/A single transaction
========================== ==============================================
e) Date of the transaction 12/05/20
========================== ==============================================
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 Grant of nil cost options under the Pharos
Energy plc 2011 Long-Term Incentive Plan
========================== ===========================================
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00 1,550,855
==========
========================== ===========================================
d) Aggregated information N/A single transaction
========================== ===========================================
e) Date of the transaction 12/05/20
========================== ===========================================
f) Place of the transaction Outside a trading venue
========================== ===========================================
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END
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