Grant of options under incentivisation scheme

RNS Number : 4836A

Rose Petroleum PLC

24 March 2017

 

24 March 2017

Rose Petroleum plc

("Rose", the "Company" or the "Group")

Grant of Options under incentivisation scheme

Rose (AIM: ROSE), the AIM quoted natural resources business, having consulted with its advisers, announces the grant of options over ordinary shares of 0.1p each in the Company ("Ordinary Shares") under the Company's existing employee share option schemes ("Options"). A total of 245,000,000 Options have today been issued to various directors and employees of the Company.

The Options will vest in three equal annual tranches, on the first, second and third anniversary from today's date. Each Option is exercisable into one Ordinary Share and, once vested, can be exercised up until the tenth anniversary of today's date. The Options are exercisable at a price of 0.14p per share and only after the mid-market Ordinary Share price remains at 0.175p (a 25% premium to the exercise price) or higher for 10 consecutive trading days.

Of the 245 million Options issued today, 150 million have been issued to certain directors of the Company as set out below, and the other 95 million Options have been issued to employees of the Company. Details of the Options granted to directors are outlined in the table below:

Name of Director	Number of Options granted	Total number of options over Ordinary Shares now held
Matthew Idiens	70,000,000	111,800,000
Chris Eadie	50,000,000	60,000,000
Kelly Scott	15,000,000	25,933,333
Kris Hefton	15,000,000	31,000,000

The Options granted today represent approximately 6.5 per cent of the Company's current issued share capital. In total 388,283,333 Options are now outstanding, representing approximately 10.3 per cent of the Company's current issued share capital.

Philip Jeffcock, Chairman and Independent Director, commented: "Over the past eighteen months we have implemented a cost cutting programme across the Group.  However, given the significant amount of activity that is currently taking place across the Group it is essential to incentivise and motivate the team to ensure that we deliver on our key objectives and I hope these proportionate and well deserved option awards will go a long way towards helping us achieve that."

Enquiries:

Matthew Idiens (CEO) Chris Eadie (CFO)	Rose Petroleum plc	Tel: [phone] Tel: [phone]
Jeremy Porter / James Reeve / Liz Kirchner	Allenby Capital Limited	Tel: [phone]
James Pope / Ben Turner	Turner Pope Investments	Tel:  [phone]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Matthew Idiens
2.	Reason for the Notification
a)	Position/status	CEO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rose Petroleum plc
b)	LEI	n/a
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	Options over ordinary shares of 0.5p
	Identification code	GB00B013M672
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 0.14 pence per share 70,000,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	24 March 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Christopher Eadie
2.	Reason for the Notification
a)	Position/status	CFO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rose Petroleum plc
b)	LEI	n/a
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	Options over ordinary shares of 0.5p
	Identification code	GB00B013M672
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 0.14 pence per share 50,000,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	24 March 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kelly Scott
2.	Reason for the Notification
a)	Position/status	Non-executive director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rose Petroleum plc
b)	LEI	n/a
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	Options over ordinary shares of 0.5p
	Identification code	GB00B013M672
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 0.14 pence per share 15,000,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	24 March 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Kristopher Hefton
2.	Reason for the Notification
a)	Position/status	COO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rose Petroleum plc
b)	LEI	n/a
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	Options over ordinary shares of 0.5p
	Identification code	GB00B013M672
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 0.14 pence per share 15,000,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	24 March 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ty Watson
2.	Reason for the Notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rose Petroleum plc
b)	LEI	n/a
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	Options over ordinary shares of 0.5p
	Identification code	GB00B013M672
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 0.14 pence per share 45,000,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	24 March 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ignacio Elices Teja
2.	Reason for the Notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rose Petroleum plc
b)	LEI	n/a
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	Options over ordinary shares of 0.5p
	Identification code	GB00B013M672
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 0.14 pence per share 20,000,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	24 March 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Luis Francisco Perez Agosttini
2.	Reason for the Notification
a)	Position/status	PDMR
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Rose Petroleum plc
b)	LEI	n/a
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	Options over ordinary shares of 0.5p
	Identification code	GB00B013M672
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Exercise price 0.14 pence per share 15,000,000
d)	Aggregated information: Aggregated volume Price	n/a
e)	Date of the transaction	24 March 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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