Director/PDMR Shareholding

RNS Number : 5651K

Pharos Energy PLC

23 April 2020

 

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

DIRECTORS/PDMR SHAREHOLDINGS

Share Purchases by Directors

The Company was notified on 22 April 2020 that, on the same day, John Martin, Non-Executive Chair, Ed Story, Chief Executive Officer, Jann Brown, the Managing Director and Chief Financial Officer and Dr Mike Watts, Managing Director, purchased Pharos Energy plc ordinary shares of £0.05 each ("Shares") in the Company as set out in the table below. The Shares were purchased on the open market.

Director	Number of Shares purchased	Price per Share	Total number of Shares held following purchase	% of Company's Issued Capital (excluding treasury shares)
John Martin	100,000	£0.1498	130,000	0.033%
Ed Story	100,000	£0.1590	14,173,7471	3.560%
Jann Brown	75,000	£0.1490	493,801	0.124%
Dr Mike Watts	75,000	£0.1490	627,195	0.158%

1 * 12,498,747 Shares (3.14%) 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: + 44 207 603 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.

Details of the person discharging managerial responsibilities
Name	JOHN MARTIN
Reason for the notification
Position/status	Non-Executive Chair
Initial notification /Amendment	Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	PHAROS ENERGY PLC
LEI	549300DDKLXYLLO4N524
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
Description of the financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.05 EACH GB00B572ZV91
Nature of the transaction	Acquisition of shares.
Price(s) and volume(s)	Price(s) Volume(s) £0.1498 100,000
Aggregated information - Aggregated volume - Price	100,000 £14,980
Date of the transaction	22/04/2020
Place of the transaction	London Stock Exchange, XLON

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 /Amendment	Initial notification
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 financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.05 EACH GB00B572ZV91
b)	Nature of the transaction	Acquisition of shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.1590 100,000
d)	Aggregated information - Aggregated volume - Price	100,000 £15,900
e)	Date of the transaction	22/04/2020
f)	Place of the transaction	London Stock Exchange, XLON

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 /Amendment	Initial notification
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 financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.05 EACH GB00B572ZV91
b)	Nature of the transaction	Acquisition of shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.149 75,000
d)	Aggregated information - Aggregated volume - Price	75,000 £11,175
e)	Date of the transaction	22/04/2020
f)	Place of the transaction	London Stock Exchange, XLON

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 /Amendment	Initial notification
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 financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.05 EACH GB00B572ZV91
b)	Nature of the transaction	Acquisition of shares.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.149 75,000
d)	Aggregated information - Aggregated volume - Price	75,000 £11,175
e)	Date of the transaction	22/04/2020
f)	Place of the transaction	London Stock Exchange, XLON

 

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