PDMR Share ISSUANCE

RNS Number : 2108F

Vaalco Energy Inc

18 March 2022

 

18 March 2022

PDMR Share ISSUANCE

VAALCO Energy, Inc. announces a correction to the PDMR share issuance announced at 08:14 on 16 March 2022 under RNS Number 9557E.  The number of shares awarded to George Maxwell had been overstated; the amended announcement appears below in full containing the corrected figures.

VAALCO Energy, Inc. ("VAALCO" or "Company") announces that on 11 March 2022, restricted shares in the Company ("Restricted Shares") were issued to persons discharging managerial responsibility in the Company as listed below. The Common Shares will be allotted in proportions over a three year period at a price per common share ("Common Share") of $6.41.

Name	Role	Nature of transaction	Number ofCommonShares	Price per share($)
GeorgeMaxwell	CEO	Award of Restricted Shares	43,799	$6.41
RonaldBain	CFO	Award of Restricted Shares	20,558	$6.41
DavidDesAutels	EVP, Corp.Dev.	Award of Restricted Shares	13,658	$6.41
MichaelSilver	EVP, GC & Corp. Secretary	Award of Restricted Shares	20,464	$6.41
JasonDoornik	CAO &Controller	Award of Restricted Shares	13,198	$6.41

VAALCO announces that on 11 March 2022, Performance Options ("Performance Options") were granted to persons discharging managerial responsibility in the Company as listed below. These will convert into Common Shares and will vest over a three year period after the grant date, subject to the performance conditions attached to each allocation being met. The Performance Shares were issued at the grant price indicated below.

Name	Role	Nature of transaction	Number ofCommonShares	Price per share($)
GeorgeMaxwell	CEO	Award of Performance Options	84,831	$6.41
RonaldBain	CFO	Award of Performance Options	46,432	$6.41
DavidDesAutels	EVP, Corp.Dev.	Award of Performance Options	30,849	$6.41
MichaelSilver	EVP, GC & Corp. Secretary	Award of PerformanceOptions	46,221	$6.41

About VAALCO

VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

The Company is an established operator within the region, holding a 31.1% working interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 110 million barrels of crude oil and of which the Company is the operator.

For Further Information

VAALCO Energy, Inc. (General and Investor Enquiries)  +00 1 713 623 0801

Website:  www.vaalco.com

Al Petrie Advisors (US Investor Relations)  +00 1 713 543 3422

Al Petrie / Chris Delange 

Buchanan (UK Financial PR)  [phone]

Ben Romney / Chris Judd / James Husband  [e-mail]

 

Notification of dealings in shares by PDMR's of the Company:

1.	Details of PDMR / PDMRAssociate
(a)	Name	GeorgeMaxwell
(b)	Position /status	Chief ExecutiveOfficer
(c)	Initial notification / amendment	InitialNotification
2.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted
(a)	Description of thefinancialinstrument	Restricted Shares and Options over Common Shares ("Options")
(b)	Nature of thetransaction	Award of Restricted Shares on the vesting of performanceoptions and award of Options
(c)	Price(s) andvolume(s)	Award of Restricted Shares Price: $6.41 Volume: 43,799 Total:USDollar $280,751.59 Award of Options Price: $6.41 Volume: 84,831 Total: US Dollar $543,766.71
(d)	Aggregated information Aggregated volume Price	Volume: 128,630128,630 Price:$6.41
(e)	Date of thetransaction	March 11,2022
(f)	Place of thetransaction	USA

 

1.	Details of PDMR / PDMRAssociate
(a)	Name	RonaldBain
(b)	Position /status	Chief FinancialOfficer
(c)	Initial notification / amendment	InitialNotification
2.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted
(a)	Description of  thefinancialinstrument	Restricted Shares and Options
(b)	Nature of thetransaction	Award of Restricted Shares on the vesting of performanceoptions and award of Options
(c)	Price(s) andvolume(s)	Award of Restricted Shares Price: $6.41 Volume: 20,558 Total:USDollar $131,776.78 Award of Options Price: $6.41 Volume: 46,432 Total: US Dollar 297,629.12
(d)	Aggregatedinformation Aggregated volume Price	Volume: 66,990 Price:$6.41
(e)	Date of thetransaction	March 11,2022
(f)	Place of thetransaction	USA

1.	Details of PDMR / PDMRAssociate
(a)	Name	DavidDesAutels
(b)	Position /status	Executive Vice President, CorporateDevelopment
(c)	Initial notification / amendment	InitialNotification
2.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted
(a)	Description of thefinancialinstrument	Restricted Shares and Options
(b)	Nature of thetransaction	Award of Restricted Shares on the vesting of performanceoptions and award of Options
(c)	Price(s) andvolume(s)	Award of Restricted Shares Price: $6.41 Volume: 13,658 Total:USDollar $87,547.78 Award of Options Price: $6.41 Volume: 30,849 Total: US Dollar $197,742.09
(d)	Aggregatedinformation Aggregated volume Price	Volume: 44,507 Price:$6.41
(e)	Date of thetransaction	March 11,2022
(f)	Place  of  thetransaction	USA

 

1.	Details of PDMR / PDMRAssociate
(a)	Name	MichaelSilver
(b)	Position /status	Executive Vice President, General Counsel & CorporateSecretary
(c)	Initial notification / amendment	InitialNotification
2.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted
(a)	Description of thefinancialinstrument	Restricted Shares and Options
(b)	Nature of thetransaction	Award of Restricted Shares on the vesting of performanceoptions and award of Options
(c)	Price(s) andvolume(s)	Award of Restricted Shares Price: $6.41 Volume: 20,464 Total:USDollar $131,174.24 Award of Options Price: $6.41 Volume: 46,221 Total: US Dollar $296,276.61
(d)	Aggregatedinformation Aggregated volume Price	Volume: 66,685 Price:$6.41
(e)	Date of thetransaction	March 11,2022
(f)	Place  of  thetransaction	USA

 

1.	Details of PDMR / PDMRAssociate
(a)	Name	JasonDoornik
(b)	Position /status	Chief Accounting Officer andController
(c)	Initial notification / amendment	InitialNotification
2.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) eachtypeoftransaction;(iii)eachdate;and(iv)eachplacewheretransactionshavebeen conducted
(a)	Description of thefinancialinstrument	Restricted Shares
(b)	Nature of thetransaction	Award of Restricted Shares on the vesting of performanceoptions
(c)	Aggregatedinformation Aggregated volume Price	Price: $6.41 Volume: 13,198 Total:USDollar $84,599.18
(d)	Date of thetransaction	11 March2022
(e)	Place of thetransaction	USA

 

END

 

 

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