Issuance of Share Options

RNS Number : 7450F
Predator Oil & Gas Holdings PLC
09 November 2022
 

FOR IMMEDIATE RELEASE 

 9 November 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 Carl Kindinger (Non-executive Director):

-  Award of 2,000,000 Options

 

To Paul Griffiths (Executive Chairman):

-  Award of 7,500,000 Options

 

To Lonny Baumgardner (Managing Director):

-  Award of 7,500,000 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

30,085,793*

4,005,486

3,850,000

  Nil

Lonny

Baumgardner

  555,600

Nil

Nil

  7,855,486

Alistar Jury

Nil

Nil

Nil

  Nil

Carl Kindinger

1,350,577

Nil

Nil

  Nil

 

DIRECTOR

  OPTIONS

  5 July 2022

  OPTIONS

  9 November 2022

Paul Griffiths

  Nil

7,500,000

Lonny

Baumgardner

  Nil

7,500,000

Alistar Jury

  2,000,000

Nil

Carl Kindinger

  Nil

2,000,000

 

* 15 million shares loaned to the Company to complete a Placing announced on 17 August 2022  are to be returned  

  to Paul Griffiths by the Company when the Company has the ability to issue further shares.

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

Options issued on 5 July 2022 are exercisable at 8.125 pence per share, being the closing mid-market price on 4 July 2022, and will vest after 6 months.

Options issued on 9 November 2022 to Carl Kindinger are exercisable at 7.75 pence per share, being the closing mid-market price on 8 November 2022 and will vest after 6 months or upon the release of a Company RNS with the MOU-2 test results - whichever occurs first.

Options issued on 9 November 2022 to Paul Griffiths and Lonny Baumgardner are exercisable at 10.0 pence per share and will vest after 6 months or upon the release of a Company RNS with the MOU-2 test results - whichever occurs first.

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

WARRANTS³

  OPTIONS 

  31 January 20224

  OPTIONS 

  5 July 2022⁵

Directors 

4,005,886

7,150,000

Nil

  7,855,486

  2,000,000

Previous director


3,300,000

Nil

  1,000,000

  2,000,000

Advisers

and others

Nil

Nil

10,264,468

  Nil


 


  OPTIONS 

  9 November 2022⁶

Directors 

  17,000,000

Previous director

 

Advisers

and others

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 (160,718 on 24 May 2018),  12 pence per share (2,000,000 on 15 February 2019), 4 pence per  share (2,193,750 on 17 February 2020), 10.5 pence per share (1,020,000 on 12 March 2021), 15 pence per share (600,000 on 18 June 2021), 9 pence per share (690,000 on 28 March 2022) and 5.5 pence per share (3,600,000 on 23 August 2022). Further details of the 2018, 2019, 2020 and 2021 warrant awards may be found in the Company's 2021 Annual Report and Financial Statements.

 

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

(5) 4,000,000 options are exercisable at 8.125 pence per share.

(6) 15,000,000 options are exercisable at 10 pence per share

  2,000,000 options are exercisable  at 7.75 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  £3,905,636.

 

For further information visit www.predatoroilandgas.com

 

Follow the Company on twitter @PredatorOilGas.

 

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

Paul Griffiths  Executive Chairman

Lonny Baumgardner  Managing Director

Tel: +44 (0) 1534 834 600

Info@predatoroilandgas.com



Novum Securities Limited

Jon Belliss

David Coffman

 

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 finalised to coordinate with a further drilling programme beginning in 2022.

 

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 Regasification 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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