Award of Options

RNS Number : 0201Z

Empyrean Energy PLC

15 September 2020

 

Empyrean Energy PLC / Index: AIM / Epic: EME / Sector: Oil & Gas

15 September 2020

Empyrean Energy PLC ("Empyrean" or the "Company")

Award of Options

Empyrean Energy plc ("Empyrean or Company"), the oil and gas development company with interests in China, Indonesia and the United States, advises that the Board has resolved to issue incentive options in respect of 2,500,000 ordinary shares of 0.2 pence in the Company to the Company Secretary, Mr Jonathan Whyte, or his nominee ("the Incentive Options").

The Incentive Options have been granted as part of the Company's strategy to retain and incentivise directors and management of the Company. The Incentive Options will not vest to Mr Whyte for a period of 12 months from their issue date and will expire on 10 September 2023.

The exercise price of the Incentive Options is 7.5p each, which represents an approximate 54% premium to the volume weighted average price of the Ordinary Shares for the thirty days prior to the date of grant. 2,500,000 options currently held by Mr Whyte, expiring in January 2021, were cancelled in lieu of the award of the new Incentive Options.

**ENDS**

For further information:

Empyrean Energy plc
Tom Kelly	Tel: [phone]
Cenkos Securities plc
Neil McDonald	Tel: [phone]
Pete Lynch	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:	Jonathan Whyte - Keyport Investments Pty Ltd
2	Reason for the Notification
a)	Position/Status:	Company Secretary
b)	Initial notification/ Amendment:	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Empyrean Energy Plc
b)	LEI:	213800ZRH1WBHEWDFA57
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:	Options over ordinary shares of 0.2p each ("Ordinary Shares") GB00B09G2351
b)	Nature of the transaction:	Grant of 2,500,000 Incentive Options over Ordinary Shares with an expiry date of 10 September 2023.
c)	Price(s) and Volume(s):	Exercise Price(s) Volume(s) £0.075 2,500,000
d)	Aggregated Information: - Aggregated Volume - Price	N/A (Single transaction)
e)	Date of the Transaction:	14 September 2020
f)	Place of the Transaction:	London Stock Exchange, AIM (LON:EME)

 

END

 

 

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