Grant of Share Awards to Directors/PDMRs

Pharos Energy PLC

01 May 2024

 

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 30 April 2024, 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

Nil-cost options relating to a performance related annual bonus earned for 2023, 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	591,851
Sue Rivett	Chief Financial Officer	394,567

The number of Shares granted is equivalent to the relevant proportion of the 2023 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 (£0.229). 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-price options under the Company's Long-Term Incentive Plan ("LTIP") as set out below:

Director	Position	No of Shares granted under the LTIP
Sue Rivett	Chief Financial Officer	2,592,139

PDMR	Position	No of Shares granted under the LTIP
Mohamed Sayed	Group Head of Technical	300,000

These awards will generally vest over three years from the date of grant, subject to the satisfaction of certain performance conditions and for the Executive Director, a subsequent two-year holding period.

Enquiries

Pharos Energy plc                                                                                                                                   Tel: [phone]

Tony Hunter, Company Secretary

Camarco                                                                                                                                                 Tel: [phone]

Billy Clegg |Rebecca Waterworth |Kirsty Duff |Andrew Turner

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 nil-cost options under the Pharos Energy plc 2014 Deferred Bonus Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 591,851
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	30/04/2024
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 2014 Deferred Bonus Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 394,567
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	30/04/2024
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-price options under the Pharos Energy plc Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 2,592,139
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	30/04/2024
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities
a)	Name	MOHAMED SAYED
2	Reason for the notification
a)	Position/status	Group Head of Technical
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-price options under the Pharos Energy plc Long-Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 300,000
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	30/04/2024
f)	Place of the transaction	Outside a trading venue

 

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