Director/PDMR Shareholding

RNS Number : 7526M

Pharos Energy PLC

16 January 2023

 

16 January 2023

Pharos Energy plc

("Pharos" or "the Company")

DIRECTORS/PDMR SHAREHOLDINGS

Awards under the Company's Deferred Share Bonus Plan

The Company announces that on 13 January 2023, Persons Discharging Managerial Responsibilities ("PDMRs") were granted deferred bonus awards over ordinary shares of £0.05 each in the Company ("Shares"), relating to a performance related annual bonus earned for 2022, under the Pharos Energy plc 2014 Deferred Share Bonus Plan (the "DSBP") as follows:-

Director/PDMR	Position	No of Shares granted under the DSBP
Jann Brown	Chief Executive Officer	611,838
Sue Rivett	Chief Financial Officer	379,734

The number of Shares granted is equivalent to the relevant proportion of the 2022 annual bonus deferred, calculated on the basis of the closing middle market quotation (as derived from the Daily Official List) on the dealing day immediately preceding the date of grant (£0.24). Subject to the rules of the DSBP, these Shares will generally vest over two years from the date of grant.

For further information, please contact:

Pharos Energy plc    Tel: [phone]

Jann Brown, Chief Executive Officer 

Sue Rivett, Chief Financial Officer

Camarco   Tel: [phone]

Billy Clegg | Georgia Edmonds | Rebecca Waterworth | Kirsty Duff

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 and Vietnam. 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 (CNV) 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.

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) £0.00 611,838
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	13/01/23
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) £0.00 379,734
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	13/01/23
f)	Place of the transaction	Outside a trading venue

 

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