Grant of Share Options

RNS Number : 2112F

Advance Energy PLC

18 March 2022

 

18 March 2022

Advance Energy plc

("Advance Energy" or the "Company") 

Grant of Share Options

Advance Energy (   AIM:ADV  ), the energy company seeking growth through acquisition or farm-in to discovered upstream projects, announces a grant of options over 30,000,000 new ordinary shares ("Ordinary Shares") to the Interim Chief Executive Officer, Larry Bottomley (the "Options").

The Options have an exercise price of 0.3 pence per Ordinary Share, with 50 per cent of the Options vesting 6 months from 17 March 2022 and the remainder vesting one year from 17 March 2022. This award has been made to incentivise the successful delivery of the Company's strategy while managing costs as part of the focus on capital discipline.

Following this grant of Options, Mr Bottomley will be interested in 30,000,000 options over Ordinary Shares in the Company.

Enquiries:

Advance Energy plc L arry Bottomley  (I nterim  CEO) / Stephen West (CFO)	[phone]
Strand Hanson Limited (Financial and Nominated Adviser) Rory Murphy / James Harris / James Bellman	[phone]
Buchanan (Public Relations) Ben Romney / Jon Krinks	[phone]
Tennyson Securities Limited (Joint Broker) Peter Krens / Ed Haig-Thomas	[phone]
Optiva Securities Limited (Joint Broker) Christian Dennis	[phone]

  For further information, please visit  www.advanceplc.com  and @advanceplc on Twitter

To register for Advance Energy's email alerts, please complete the following form:  https://www.advanceplc.com/media-centre/news/#alerts

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

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	Larry Bottomley
2	Reason for the notification
a)	Position/status	Interim Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Advance Energy PLC
b)	LEI	213800TZWOYU7UFZ5V63
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 financial instrument, type of instrument	Options over Ordinary Shares
	Identification code	IM00BZ7PNY71
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			0.3p	Options over 30,000,000 ordinary shares
d)	Aggregated information
	- Aggregated volume
	- Price	0.3 p
e)	Date of the transaction	17 March 2022
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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