Exercise of Options and TVR and Award of Options

RNS Number : 5078A

Prospex Energy PLC

23 September 2022

 

Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

23 September 2022

Prospex Energy PLC

('Prospex' or the 'Company')

Exercise of Options and TVR and Award of Options

Prospex Energy PLC, the AIM-quoted investment company focused on European gas and power projects, announces that it has received notices for the exercise of options to subscribe for 2,191,947 new ordinary shares of 0.1p each in the Company ("Ordinary Shares").  The options were issued pursuant to option agreements dated 20 July 2020 and have been exercised by two directors and an employee of the Company, further details on which are below.  The exercise price is 4 pence per option exercised, therefore generating proceeds of £87,677.88, in aggregate, for the Company.  The Board of Directors as a whole have no current intention of selling any of their Ordinary Shares held, including those issued on the exercise of these options.

Admission to Trading and Total Voting Rights

The Company has applied to the London Stock Exchange for admission of 2,191,947 new Ordinary Shares to trading on AIM ('Admission').  Admission is expected to occur on or around 29 September 2022.  Following Admission, there will be a total of 272,984,675 Ordinary Shares in issue.  This will be the number of Ordinary Shares that may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

Award of Options

The Company has today granted a total of 3,600,000 share options in the Company to its Board of Directors.  The new options awarded represent approximately 1.3% of the issued share capital of the Company following Admission.  The new options award results in the total number of options held by the Board of Directors and management of 8,593,468 options, which represents approximately 3.1% of the issued share capital following Admission.

The new options have been awarded at 8.15p per share representing a 3.2% premium to 7.90p, the closing price on 22 September 2022. The options vest immediately and are exercisable for a period of five years.

The options to be issued are set out below:

Mark Routh	900,000
William Smith	900,000
Alasdair Buchanan	900,000
Richard Mays	900,000
Total	3,600,000

Options currently held by directors: -

Director	Expiry 31/3/25	Strike Price	Expiry 17/3/25	Strike Price	Total
William Smith	21,669	75p	900,000	5p	921,669
Richard Mays	21,669	75p	900,000	5p	921,669
Alasdair Buchanan	-	-	900,000	5p	900,000
Mark Routh	-	-	2,100,000	5p	2,100,000
Totals	43,338		4,800,000		4,843,338

Directors' total interest in options after this award:

Director	Number	% of share capital following Admission
Mark Routh	3,000,000	1.1%
William Smith	1,821,669	0.7%
Richard Mays	1,821,669	0.7%
Alasdair Buchanan	1,800,000	0.7%
Total	8,443,338	3.1%

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

* * ENDS * *

For further information visit www.prospex.energy or contact the following:

Mark Routh	Prospex Energy PLC	Tel: [phone]
Ritchie Balmer Rory Murphy	Strand Hanson Limited	Tel: [phone]
Andrew Monk (Corporate Broking) Andrew Raca/Alex Cabral (Corporate Finance)	VSA Capital Limited	Tel: [phone]
Colin Rowbury Jon Belliss	Novum Securities Limited	Tel: [phone]
Susie Geliher Ana Ribeiro	St Brides Partners Limited	Tel: [phone]

PDMR Notification

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	William Smith
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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	Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 900,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	23 September 2022
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alasdair Buchanan
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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	Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 900,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	23 September 2022
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Mays
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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	Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 900,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	23 September 2022
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Routh
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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	Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Issue of options to acquire Ordinary Shares over the next 5 years
c)	Price(s) and volume(s)	Price(s) Volume(s) 8.15 pence 900,000
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	23 September 2022
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	William Smith
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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	Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Exercise of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 4 pence 810,720
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	23 September 2022
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Mays
2.	Reason for the Notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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	Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Exercise of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 4 pence 810,720
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	23 September 2022
f)	Place of the transaction	AIM

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Grant Glanfield
2.	Reason for the Notification
a)	Position/status	Senior Management
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Prospex Energy Plc
b)	LEI	213800NY9RH8O1B72D27
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	Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
	Identification code	GB00BMFZVZ53
b)	Nature of the Transaction	Exercise of options to acquire Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 4 pence 570,507
d)	Aggregated information Aggregated volume Price	N/A (Single Transaction)
e)	Date of the transaction	23 September 2022
f)	Place of the transaction	AIM

 

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