Issuance of Share Options

RNS Number : 0573A
Predator Oil & Gas Holdings PLC
31 January 2022
 

 

FOR IMMEDIATE RELEASE

31 January 2022

 

Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas

LEI 213800L7QXFURBFLDS54

Predator Oil & Gas Holdings Plc

("Predator" or the "Company" and together with its subsidiaries "the Group")

 

Issuance of Share Options

 

 

Predator, the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland,   advises of the issuance of the following options over new Ordinary Shares:

 

Issuance of Options to Directors

The Board's Remuneration Committee has resolved to make the following award of unallocated share options under the Company's existing option scheme:

 

To Lonny Baumgardner (Chief Operations Officer):

-  Award of 7,855,486 Options

 

To Louis Castro (Non-executive Director):

-  Award of 1,000,000 Options

 

Directors' Holdings

Following the issue of the options to Directors as described above, and inclusive of shares and options already held by Directors, the  positions held by the Directors is as follows:

 

DIRECTOR

TOTAL SHARES

OPTIONS

18 May 2018

OPTIONS

27 October 2020

OPTIONS

31 January 2022

Paul Griffiths

46,871,508

4,005,486

3,850,000

Nil

Stephen Staley

  669,600

1,001,370

1,650,000

Nil

Louis Castro

Nil

Nil

1,650,000

1,000,000

Lonny

Baumgardner

Nil

Nil

Nil

7,855,486

 

Details of the 2018 and 2020 option awards may be found in the Company's annual report.

Options issued on 31 January 2022 are exercisable at 5.66 pence per share, being the closing mid-market price on 28 January 2022, and will vest after 6 months.

 

 

 

 

Total Options and Warrants on issue

Following the issuances of the options announced herein, the total options and warrants outstanding in the Company are as follows:

 

 

OPTIONS

18 May 2018¹

OPTIONS

27 October 2020²

WARRANTS ³

OPTIONS 

31 January 20224

Directors 

5,006,856

7,150,000

Nil

8,855,486

Previous director

1,001,370

Nil

Nil

Nil

Advisers

and others

Nil

Nil

10,123,678

Nil

(1) 18/5/18 options are exercisable at 2.8 pence per share

(2) 27/10/20 options are exercisable at 5 pence per share

(3)  Warrants  include outstanding warrants issued to Company advisers at  

an exercise price of 2.8 pence per share (2,053,678 on 24 May 2018),  12 pence per share (2,000,000 on 15 February 2019), 4 pence per  share (4,450,000 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March 2021) and 15 pence per share (600,000 on 18 June 2021). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be found in the Company's annual report and the unaudited Interim Financial Statements for the 6 months to 30 June 2021.

(4) 8,855,486 options are exercisable at 5.66 pence per share.

 

If all options and warrants were to become exercisable and then exercised in accordance with their terms, gross proceeds received by the Company would be  £1,699,554.

 

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse

 

For more information please visit the Company's website at  www.predatoroilandgas.com

 

Enquiries:

Predator Oil & Gas Holdings Plc

Dr. Stephen Staley Non-executive Chairman

Paul Griffiths  Chief Executive Officer

Tel: +44 (0) 1534 834 600

Info@predatoroilandgas.com

 

 

 

Novum Securities Limited

Jon Belliss

 

Optiva Securities Limited

Christian Dennis

Tel: +44 (0) 207 399 9425

 

 

Tel: +44 (0) 203 137 1902

 

 

Flagstaff Strategic and Investor Communications

Tim Thompson 

Mark Edwards

Fergus Mellon

Tel: +44 (0) 207 129 1474

predator@flagstaffcomms.com

 

 

Notes to Editors:

 

Predator is operator of the Guercif Petroleum Agreement onshore Morocco which is prospective for Tertiary gas in prospects less than 10 kilometres from the Maghreb gas pipeline.  The MOU-1 well has been completed and a follow-up testing programme is being developed and a further drilling programme is under review.

 

Predator is seeking to further develop the remaining oil reserves of Trinidad's mature onshore oil fields through the application of CO2 EOR techniques and by sequestrating anthropogenic carbon dioxide to produce "greener" oil.

 

In addition, Predator also owns and operates exploration and appraisal assets in licensing options offshore Ireland, for which successor authorisations have been applied for, adjoining Vermilion's Corrib gas field in the Slyne Basin on the Atlantic Margin and east of the decommissioned Kinsale gas field in the Celtic Sea.

 

Predator has developed a Floating Storage and Regassification Project ("FSRUP") for the import of LNG and its regassification for Ireland and is also developing gas storage concepts to address security of gas supply and volatility in gas prices during times of peak gas demand.

 

The Company has a highly experienced management team with a proven track record in operations in the oil and gas industry.

 

 

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