Grant of Share Options

RNS Number : 5885Y
Diversified Gas & Oil PLC
10 May 2019
 

10 May 2019

Diversified Gas & Oil PLC

("DGO" or the "Company")

 

Grant of Share Options

 

Diversified Gas & Oil PLC (AIM: DGOC), the US based owner and operator of natural gas, natural gas liquids and oil wells as well as midstream assets, announces that upon the recommendation of the DGO Remuneration Committee, on 9 May 2019, the Company granted share options over a total of 8,520,000 ordinary shares of 1p each in the Company ("New Share Options") pursuant to the Company's Share Option Scheme (the "Scheme"). The Scheme is intended to promote long term shareholdings by executive directors and senior management, aligning their interests with other shareholders.

 

This award includes 5,300,000 New Share Options granted to the following executive directors and persons discharging managerial responsibilities ("PDMRs"):

 

 

Number of Ordinary Shares

% of existing share capital

Existing share options held(1)

New Share Options granted

Total share options
held

Total share options as % of issued share capital

Executive Directors

 

 

 

 

 

 

Robert "Rusty" Hutson Jr

20,250,000

2.92%

6,000,000

2,400,000

8,400,000

1.21%

Bradley Gray

2,237,981

0.32%

2,750,000

1,100,000

3,850,000

0.55%

PDMRs

 

 

 

 

 

 

Eric Williams

38,855

0.01%

1,805,000

700,000

2,505,000

0.36%

Michael Garrett

-

-

750,000

200,000

1,025,000

0.14%

Bryan Berry

-

-

750,000

200,000

950,000

0.14%

Bobby Cayton

-

-

600,000

200,000

800,000

0.12%

Maverick Bentley

-

-

-

500,000

500,000

0.07%

(1)  Total includes options granted previously in the form of Restricted Stock Units

 

 

In summary the principal terms of these New Share Options are:

·    exercisable at a price of 120 pence per share;

·    a three-year vesting period, ordinarily vesting on the date on which the Company's Remuneration Committee determines the extent to which certain performance conditions relating to Earnings Per Share growth and Total Shareholder Return thresholds have been satisfied (the "Vesting Date");

·    all New Share Options are subject to meeting performance conditions;

·    subject to malus, clawback and post-employment restrictions in the event of a material misstatement of the Company's financial results, gross misconduct, material error in the calculation of performance conditions or in such other exceptional circumstances as the Remuneration Committee sees fit; and

·    granted to the executive directors are further subject to an additional two-year holding period from the Vesting Date.

 

Following the above grants, the Company has a total of 24,481,668 new Ordinary shares currently under option, representing approximately 3.53 per cent of the Company's issued share capital.

 

 

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

 

For further information, please contact:

 

 

 

Diversified Gas & Oil PLC

Rusty Hutson Jr., Chief Executive Officer

Brad Gray, Chief Operating Officer and Finance Director

Eric Williams, Chief Financial Officer

www.dgoc.com

 

+ 1 (205) 408 0909

 

 

 

Cenkos Securities plc

Nominated Adviser

Russell Cook

Katy Birkin

Ben Jeynes

 

+44 (0)20 7397 8900

 

 

 

Mirabaud Securities Limited

Joint Broker

Peter Krens

Edward Haig-Thomas

 

+44 (0)20 3167 7221

 

 

 

Stifel Nicolaus Europe Limited

Joint Broker

Callum Stewart

Nicholas Rhodes

Ashton Clanfield

 

+44 (0)20 7710 7600

 

 

Buchanan

Financial Public Relations

Ben Romney

Chris Judd

James Husband

dgo@buchanan.uk.com

+44 (0)20 7466 5000

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Robert "Rusty" Russell Hutson Jr

 

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

Diversified Gas & Oil plc

 

b)

LEI

213800YR9TFRVHPGOS67

 

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 of 1 pence each

 

 

Identification code

GB00BYX7JT74

 

b)

Nature of the transaction

Grant of share options over ordinary shares of 1p each

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

£1.20

2,400,000

 

d)

Aggregated information

N/A (single transaction)

 

 

Aggregated volume

N/A (single transaction)

 

 

Price

N/A (single transaction)

 

e)

Date of the transaction

9 May 2019

 

f)

Place of the transaction

XOFF

 

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Bradley Grafton Gray

 

2

Reason for the notification

 

a)

Position/status

Chief Operating Officer & Finance Director

 

b)

Initial notification/Amendment

Initial Notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Gas & Oil plc

 

b)

LEI

213800YR9TFRVHPGOS67

 

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 of 1 pence each

 

 

Identification code

GB00BYX7JT74

 

b)

Nature of the transaction

Grant of options over ordinary shares of 1 pence each

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

£1.20

1,100,000

 

d)

Aggregated information

N/A (single transaction)

 

 

Aggregated volume

N/A (single transaction)

 

 

Price

N/A (single transaction)

 

e)

Date of the transaction

9 May 2019

 

f)

Place of the transaction

XOFF

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Eric Michael 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

Diversified Gas & Oil plc

 

b)

LEI

213800YR9TFRVHPGOS67

 

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 of 1 pence each

 

 

Identification code

GB00BYX7JT74

 

b)

Nature of the transaction

Grant of options over ordinary shares of 1 pence each

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

£1.20

700,000

 

d)

Aggregated information

N/A (single transaction)

 

 

Aggregated volume

N/A (single transaction)

 

 

Price

N/A (single transaction)

 

e)

Date of the transaction

9 May 2019

 

f)

Place of the transaction

XOFF

 

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Michael Walton Garrett

 

2

Reason for the notification

 

a)

Position/status

Vice President of Accounting and Controller

 

b)

Initial notification/Amendment

Initial Notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Gas & Oil plc

 

b)

LEI

213800YR9TFRVHPGOS67

 

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 of 1 pence each

 

 

Identification code

GB00BYX7JT74

 

b)

Nature of the transaction

Grant of options over ordinary shares of 1 pence each

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

£1.20

200,000

 

d)

Aggregated information

N/A (single transaction)

 

 

Aggregated volume

N/A (single transaction)

 

 

Price

N/A (single transaction)

 

e)

Date of the transaction

9 May 2019

 

f)

Place of the transaction

XOFF

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Bryan Keith Berry

 

2

Reason for the notification

 

a)

Position/status

Vice President of Finance

 

b)

Initial notification/Amendment

Initial Notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Gas & Oil plc

 

b)

LEI

213800YR9TFRVHPGOS67

 

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 of 1 pence each

 

 

Identification code

GB00BYX7JT74

 

b)

Nature of the transaction

Grant of options over ordinary shares of 1 pence each

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

£1.20

200,000

 

d)

Aggregated information

N/A (single transaction)

 

 

Aggregated volume

N/A (single transaction)

 

 

Price

N/A (single transaction)

 

e)

Date of the transaction

9 May 2019

 

f)

Place of the transaction

XOFF

 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Bobby Joe Cayton

 

2

Reason for the notification

 

a)

Position/status

Senior Vice President of Northern Operations

 

b)

Initial notification/Amendment

Initial Notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Gas & Oil plc

 

b)

LEI

213800YR9TFRVHPGOS67

 

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 of 1 pence each

 

 

Identification code

GB00BYX7JT74

 

b)

Nature of the transaction

Grant of options over ordinary shares of 1 pence each

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

£1.20

200,000

 

d)

Aggregated information

N/A (single transaction)

 

 

Aggregated volume

N/A (single transaction)

 

 

Price

N/A (single transaction)

 

e)

Date of the transaction

9 May 2019

 

f)

Place of the transaction

XOFF

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Maverick Lee Bentley

 

2

Reason for the notification

 

a)

Position/status

Senior Vice President of Southern Operations

 

b)

Initial notification/Amendment

Initial Notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Gas & Oil plc

 

b)

LEI

213800YR9TFRVHPGOS67

 

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 of 1 pence each

 

 

Identification code

GB00BYX7JT74

 

b)

Nature of the transaction

Grant of options over ordinary shares of 1 pence each

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

£1.20

500,000

 

d)

Aggregated information

N/A (single transaction)

 

 

Aggregated volume

N/A (single transaction)

 

 

Price

N/A (single transaction)

 

e)

Date of the transaction

9 May 2019

 

f)

Place of the transaction

XOFF

 

 


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