Director/PDMR Shareholdings

RNS Number : 2676K

Cluff Natural Resources plc

21 April 2020

 

Cluff Natural Resources Plc / Index: AIM / Epic: CLNR / Sector: Natural Resources

21 April 2020

Cluff Natural Resources Plc ('CLNR', 'Cluff' or 'the Company')

Director/PDMR Shareholdings

Cluff Natural Resources Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea gas basin, a nnounces that a Director, a family member of another Director on his behalf and a person discharging managerial responsibilities of the Company purchased a total of 2,668,438 ordinary shares in the Company on 20 April 2020, at an average price of 0.83 pence, equating to an aggregate value of £22,168. Details of these share purchases and the resultant shareholdings are shown below:

Director/Senior manager	Role	Number of ordinary shares purchased	Resultant number of ordinary shares held	Percentage of voting rights held
Graham Swindells	Chief Executive	1,500,000	2,394,836	0.17%
Mark Lappin*	Non-Executive Chairman	588,496*	1,174,887**	0.08%**
Sarah McLeod	Chief Financial Officer	579,942	579,942	0.04%

* 588,496 ordinary shares were purchased by Sarah Lappin, Mr Lappin's wife, on his behalf. Sarah Lappin is deemed to be a 'person closely associated' with Mr Lappin as defined in the FCA's Market Abuse Regulation.

**Includes 571,430 ordinary shares held by Mr Lappin in his own name.

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	Graham Swindells
2	Reason for the notification
a)	Position/status	Director - Chief Executive
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cluff Natural Resources Plc
b)	LEI	213800TS8K1D27AFP275
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  Identification code	Ordinary shares of 0.5p ISIN: GB00B6SYKF01
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.82p 900,000 0.80p 600,000
d)	Aggregated information - Aggregated volume - Price	1,500,000 0.812
e)	Date of the transaction	20 April 2020
f)	Place of the transaction	London Stock Exchange, XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Sarah Lappin
2	Reason for the notification
a)	Position/status	Sarah Lappin is a person closely associated with the Company's Non-Executive Chairman, Mark Lappin, who is a person discharging managerial responsibilities
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cluff Natural Resources Plc
b)	LEI	213800TS8K1D27AFP275
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  Identification code	Ordinary shares of 0.5p ISIN: GB00B6SYKF01
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.8475p 588,496
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	20 April 2020
f)	Place of the transaction	London Stock Exchange, XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Sarah McLeod
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cluff Natural Resources Plc
b)	LEI	213800TS8K1D27AFP275
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  Identification code	Ordinary shares of 0.5p ISIN: GB00B6SYKF01
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.8622p 579,942
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	20 April 2020
f)	Place of the transaction	London Stock Exchange, XLON

**ENDS**

For further information please contact the following:

Cluff Natural Resources Plc	Tel: [phone]
Graham Swindells / Andrew Nunn
Allenby Capital Limited (Nominated Adviser & Joint Broker)	Tel: [phone]
David Hart / Alex Brearley / Asha Chotai (Corporate Finance)
Stifel Nicolaus Europe Limited (Joint Broker)	Tel: [phone]
Callum Stewart / Nick Rhodes / Ashton Clanfield
Camarco Ltd	Tel: [phone]
Billy Clegg / James Crothers / Julia Tilley (Financial PR)

Notes to Editors

Cluff Natural Resources is a natural resources investing company listed on the AIM market on the London Stock Exchange (CLNR.L) with a high impact portfolio of operated and, following a farm-out to Shell U.K. Limited in February 2019, non-operated exploration and appraisal assets located within the UKCS's mature hydrocarbon basins.  The Company's diversified portfolio contains near term, infrastructure focussed oil and gas exploration drilling opportunities in both the Central and Southern North Sea together with larger, high impact opportunities in new play types along the northern margin of the Southern Gas Basin. 

The portfolio has a significant P50 prospective resource base in excess of 2.4 TCF (gross, gas equivalent) across a number of prospects with chances of success ranging from 9 to 49%. 

Cluff Natural Resources is focused on extracting much needed gas from the North Sea to supply the UK's energy mix which is currently heavily reliant on foreign supply.  Following a successful farm-out of Licence P2252 and P2437 to Shell U.K. Limited the Company is seeking to repeat this farm-out success with its other licences awarded in the 30^th Offshore Licencing Round including licence P2352 which contains the Dewar oil prospect.

The Company has a strong institutional investor base and a portfolio which offers a unique opportunity of high quality, low risk and low-cost drilling prospects with potentially high impact results in an area where recent exploration has targeted both mature and new plays and has resulted in large discoveries.

 

END

 

 

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