Grant of Share Awards

RNS Number : 9379W

Chariot Oil & Gas Ld

06 August 2018

 

6 August 2018

Chariot Oil & Gas Limited

("Chariot", the "Company" or the "Group")

Grant of Share Awards

The Remuneration Committee has approved a retention mechanism for the Executive team who are critical to delivering the corporate strategy. As a result, the following Persons Discharging Managerial Responsibilities ("PDMR") were granted share awards in the form of nil cost options over Ordinary Shares on 6 August 2018 under the Company's Long Term Incentive Share Scheme. Subject to continued employment, these share awards will vest on 30 June 2021 and will remain exercisable until 5 August 2028.

PDMR	Position	Number of Shares Awarded
Larry Bottomley	Chief Executive Officer	611,311
Julian Maurice-Williams	Chief Financial Officer	256,654

In line with best practice corporate governance for AIM companies, Chariot sets its remuneration to attract and retain a quality management team while continuing to apply strong capital discipline in line with its corporate strategy. Given this ongoing focus on protecting the cash balance, since May 2015, the Executive have received a below market level of basic salary.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please contact: Chariot Oil & Gas Limited Larry Bottomley, CEO [phone] finnCap (Nominated Adviser and Joint Broker) Matt Goode, Christopher Raggett (Corporate Finance) [phone] Celicourt Communications (Financial PR) Mark Antelme, Henry Lerwill, Jimmy Lea, [phone]

NOTES TO EDITORS

ABOUT CHARIOT

Chariot Oil & Gas Limited is an independent oil and gas exploration group. It holds licences covering two blocks in Namibia, three blocks in Morocco and four blocks in the Barreirinhas Basin offshore Brazil. All of these blocks are currently in the exploration phase.

The ordinary shares of Chariot Oil & Gas Limited are admitted to trading on the AIM, a market operated by the London Stock Exchange under the symbol 'CHAR'.

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Larry Bottomley
2.	Reason for the Notification
a)	Position/status	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	Chariot Oil & Gas Limited
b)	LEI	21380046DOGKITYU6X54
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	Option over Ordinary Shares.
	Identification code	ISIN for Chariot Oil & Gas Limited Ordinary Shares: GG00B2R9PM06
b)	Nature of the transaction	Grant of option over Ordinary Shares. In accordance with the Company's Long Term Incentive Share Scheme this option will vest on 30 June 2021 and will remain exercisable until 5 August 2028.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 611,311
d)	Aggregated information: ·      Aggregated volume ·      Price	Not applicable, single transaction.
e)	Date of the transaction	6 August 2018
f)	Place of the transaction	Outside a trading venue.

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Julian Maurice-Williams
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	Chariot Oil & Gas Limited
b)	LEI	21380046DOGKITYU6X54
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	Option over Ordinary Shares.
	Identification code	ISIN for Chariot Oil & Gas Limited Ordinary Shares: GG00B2R9PM06
b)	Nature of the transaction	Grant of option over Ordinary Shares. In accordance with the Company's Long Term Incentive Share Scheme this option will vest on 30 June 2021 and will remain exercisable until 5 August 2028.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 256,654
d)	Aggregated information: ·      Aggregated volume ·      Price	Not applicable, single transaction.
e)	Date of the transaction	6 August 2018
f)	Place of the transaction	Outside a trading venue.

 

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