Director/PDMR Shareholding

RNS Number : 1351G

Pharos Energy PLC

28 March 2022

 

28 March 2022  

Pharos Energy plc

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

GRANT OF SHARE AWARDS TO DIRECTORS/PDMRs

The Company announces that on 25 March 2022, its Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") were granted share awards over ordinary shares of £0.05 each in the Company ("Shares") as follows:

1.  Awards under the Company's Deferred Share Bonus Plan

Awards relating to a performance related annual bonus earned for 2021, granted under the Pharos Energy plc 2014 Deferred Share Bonus Plan (the "DSBP") as set out below:-

Director/PDMR	Position	No of Shares granted under the DSBP
Jann Brown	Chief Executive Officer	563,157
Sue Rivett	Chief Financial Officer	136,842
Ed Story	President of Vietnam	560,529
Dr Mike Watts	PDMR	563,157

The number of Shares granted is equivalent to the relevant proportion of the 2021 annual bonus deferred, calculated on the basis of the middle market quotation (as derived from the Daily Official List) on the dealing day immediately preceding the date of grant (£0.2755). Subject to the rules of the DSBP, these Shares will generally vest over two years from the date of grant.

2.  Awards under the Company's Long-Term Incentive Plan

Nil-cost awards under the Company's Long-Term Incentive Plan ("LTIP") as set out below:

Director	Position	No of Shares granted under the LTIP
Jann Brown	Chief Executive Officer	3,049,001
Sue Rivett	Chief Financial Officer	2,032,667

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.

Enquiries

Pharos Energy plc    Tel: [phone]

Tony Hunter, Company Secretary

Camarco     Tel: [phone]

Billy Clegg | Owen Roberts | Monique Perks

Notes to editors

Pharos Energy plc is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders, which is listed on the London Stock Exchange. Pharos has production, development and/or exploration interests in Egypt, Vietnam and Israel. In Egypt, Pharos holds a 45% working interest share in the El Fayum Concession in the Western Desert, with IPR Lake Qarun, part of the international integrated energy business IPR Energy Group, holding the remaining 55% working interest. The El Fayum Concession produces oil from 10 fields and is located 80 km southwest of Cairo. It is operated by Petrosilah, a 50/50 joint stock company between the contractor parties (being IPR Lake Qarun and Pharos) and the Egyptian General Petroleum Corporation (EGPC). Pharos also holds a 45% working interest share in the North Beni Suef (NBS) Concession in Egypt, which is located immediately south of the El Fayum Concession. IPR Lake Qarun operates and holds the remaining 55% working interest in the NBS Concession.  In Vietnam, Pharos has a 30.5% working interest in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field and is operated by the Hoang Long Joint Operating Company. Pharos' unitised interest in the TGT field is 29.7%. Pharos also has a 25% working interest in the Ca Ngu Vang (CVN) field located in Block 9-2, which is operated by the Hoan Vu Joint Operating Company. Blocks 16-1 and 9-2 are 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. In Israel, Pharos, together with Capricorn Energy PLC (formerly known as Cairn Energy PLC) and Israel's Ratio Oil Exploration, has eight licences offshore Israel. Each party has an equal working interest and Capricorn Energy is the operator.

1	Details of the person discharging managerial responsibilities
a)	Name	JANN BROWN
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	Grant of Shares under the Pharos Energy plc 2014 Deferred Bonus Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 563,157
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	25/03/2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	SUE RIVETT
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	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	Grant of Shares under the Pharos Energy plc 2014 Deferred Bonus Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 136,842
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	25/03/2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	ED STORY
2	Reason for the notification
a)	Position/status	President of Vietnam
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 ("SHARES") GB00B572ZV91
b)	Nature of the transaction	Grant of Shares under the Pharos Energy plc 2014 Deferred Bonus Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 560,529
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	25/03/3022
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	PDMR
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	Grant of Shares under the Pharos Energy plc 2014 Deferred Bonus Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 563,157
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	25/03/2022
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	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	Grant of nil cost options under the Pharos Energy plc Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 3,049,001
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	25/03/2022
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	SUE RIVETT
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	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	Grant of nil cost options under the Pharos Energy plc Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 2,032,667
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	25/03/2022
f)	Place of the transaction	Outside a trading venue

 

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