Grant of Options

RNS Number : 0637O

Egdon Resources PLC

25 January 2019

 

            25 January 2019

EGDON RESOURCES PLC

 ("Egdon" or "the Company")

Grant of Options

Egdon Resources plc (AIM:EDR) announces that as part of a periodic incentive review it has granted options to the following Directors.

Director	Number of Options granted	Exercise Price (pence)	Vesting Date	Exercisable Until
Mark Abbott	1,210,191	7.85p	1 January 2020	1 January 2030
Martin Durham	955,414	7.85p	1 January 2020	1 January 2030

The options were set at an exercise price of 7.85p being the average closing mid-price for the five trading days ended 22 January 2019. 

Following the grant of the options on 24 January 2019, the interests of the Directors in the share capital of the Company are as follows:

Director	Total number of Options held over Ordinary Shares	Number of Ordinary Shares held
Mark Abbott	3,153,297	8,089,387
Martin Durham	2,387,951	0

In addition, the Company has granted options to employees on the same basis as Directors.  The total number of options granted to Directors and employees of the Company is 4,526,561 (Representing 1.74% of the Company's issued share capital).

The information set out below is in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mark Abbott
2.	Reason for the notification
a)	Position / status	Managing Director
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Egdon Resources plc
b)	LEI	213800WWGH4S9GYSPL77
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 1 pence per share value
	Identification code	GB00B28YML29
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		7.85 pence	1,210,191
d)	Aggregated information
	- Aggregated volume	1,210,191 Ordinary Shares of 1 pence per share value
	- Price11	7.85 pence per share
e)	Date of the transaction	24 January 2019
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Martin Durham
2.	Reason for the notification
a)	Position / status	Technical Director
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Egdon Resources plc
b)	LEI	213800WWGH4S9GYSPL77
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 1 pence per share value
	Identification code	GB00B28YML29
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		7.85 pence	955,414
d)	Aggregated information
	- Aggregated volume	955,414Ordinary Shares of 1 pence per share value
	- Price11	7.85 pence per share
e)	Date of the transaction	24 January 2019
f)	Place of the transaction	Outside a trading venue

For further information please contact:

Egdon Resources plc

Mark Abbott                                                                                    01256 702 292

Buchanan

Ben Romney, Chris Judd                                                                020 7466 5000

Nominated Adviser and Broker - Cantor Fitzgerald Europe               

David Porter/Nick Tulloch (Corporate Finance)                              020 7894 7000

Caspar Shand Kydd (Sales)

Joint Broker - VSA Capital Limited

Andrew Monk (Corporate Broking)                                                 020 3005 5000

Andrew Raca (Corporate Finance)

Notes to Editors:

Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company focused on onshore exploration and production in the hydrocarbon-producing basins of the UK. 

Egdon holds interests in 44 licences in the UK and has an active programme of exploration, appraisal and development within its portfolio of oil and gas assets.  Egdon is an approved operator in the UK. 

Egdon was formed in 1997 and listed on AIM in December 2004.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain

 

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