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: [phone] [e-mail]
Novum Securities Limited Jon Belliss Optiva Securities Limited Christian Dennis	Tel: [phone] Tel: [phone]
Flagstaff Strategic and Investor Communications Tim Thompson  Mark Edwards Fergus Mellon	Tel: [phone] [e-mail]

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.

 

END

 

 

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