Grant of Share Options

RNS Number : 8328W

Jersey Oil and Gas PLC

20 April 2023

 

20 April 2023

Jersey Oil and Gas plc

("Jersey Oil & Gas" or the "Company")

Grant of Share Options

Jersey Oil & Gas (AIM: JOG), an independent upstream oil and gas company focused on the UK Continental Shelf ("UKCS") region of the North Sea, announces that it has granted options over, in aggregate, 600,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to its directors, senior management and employees at an exercise price of 247.50 pence per Ordinary Share (the "Options"), being the middle market closing price on 19 April 2023, the latest practicable date prior to this announcement.

Accordingly, a total of 4,134,002 option awards are outstanding following these latest grants, which represents approximately 12.7 per cent. of the Company's existing issued share capital of 32,554,293 Ordinary Shares.

Executive Directors

The following new Options have been granted to Company's Executive Directors/Officers:

Name	Position	Number of New Options Granted	Exercise Price Per Ordinary Share (pence)	Exercise Period	Total Options Held Following This Grant
Andrew Benitz	Chief Executive Officer	150,000	247.50	7 years	800,000
Graham Forbes	Chief Financial Officer	100,000	247.50	7 years	600,000
Richard Smith	Chief Commercial Officer	100,000	247.50	7 years	600,000

The new Options set out in the table above all vest in three equal tranches (one, two and three years from the date of grant) and are subject to the satisfaction of certain performance conditions to be determined and interpreted at the discretion of the Company's Remuneration Committee. Subject to vesting and such performance conditions being met, the new Options are exercisable for up to seven years from their date of grant and will lapse if not exercised by such date.

Non-Executive Directors

The following new Options have been granted to Non-Executive Directors of the Company:

Name	Position	Number of New Options Granted	Exercise Price Per Ordinary Share (pence)	Exercise Period	Total Options Held Following This Grant
Les Thomas	Non-Executive Chairman	45,000	247.50	5 years	120,000
Frank Moxon	Senior Independent Non-Executive Director	20,000	247.50	5 years	100,000
Marcus Stanton	Non-Executive Director	20,000	247.50	5 years	130,000

The new Options set out in the table above all vest in three equal tranches (one, two and three years from the date of grant) and have no performance conditions.  Subject to vesting, the new Options are exercisable for up to five years from their date of grant and will lapse if not exercised by such date.

Senior Management and Employees

A further 165,000 new Options, in aggregate, have been granted to certain other members of senior management and employees at the same exercise price of 247.50 pence per Ordinary Share.  These options vest in the same manner as those awarded to the Executive Directors/Officers of the Company.

Enquiries :

Jersey Oil and Gas plc	Andrew Benitz, CEO	C/o Camarco: Tel:  [phone]
Strand Hanson Limited	James Harris Matthew Chandler James Bellman	Tel:  [phone]
Zeus Capital Limited	Simon Johnson	Tel: [phone]
finnCap Ltd	Christopher Raggett Tim Redfern	Tel: [phone]
Camarco	Billy Clegg Rebecca Waterworth	Tel:  [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

PDMR Notification Forms :

The notifications below are made in accordance with the requirements of MAR.

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Benitz
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer (Director)
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jersey Oil & Gas plc
b)	LEI	213800RIR1SZC1734G32
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 1 penny each in the Company
	Identification code	GB00BYN5YK77
b)	Nature of the Transaction	Grant of Options over ordinary shares of 1 penny each in the Company
c)	Price(s) and volume(s)	Price(s) Volume(s) 247.50p  150,000
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	19 April 2023
f)	Place of the transaction	Outside of a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Les Thomas
2.	Reason for the Notification
a)	Position/status	Chairman
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jersey Oil & Gas plc
b)	LEI	213800RIR1SZC1734G32
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 1 penny each in the Company
	Identification code	GB00BYN5YK77
b)	Nature of the Transaction	Grant of Options over ordinary shares of 1 penny each in the Company
c)	Price(s) and volume(s)	Price(s) Volume(s) 247.50p  45,000
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	19 April 2023
f)	Place of the transaction	Outside of a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marcus Stanton
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	Jersey Oil & Gas plc
b)	LEI	213800RIR1SZC1734G32
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 1 penny each in the Company
	Identification code	GB00BYN5YK77
b)	Nature of the Transaction	Grant of Options over ordinary shares of 1 penny each in the Company
c)	Price(s) and volume(s)	Price(s) Volume(s) 247.50p  20,000
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	19 April 2023
f)	Place of the transaction	Outside of a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Frank Moxon
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	Jersey Oil & Gas plc
b)	LEI	213800RIR1SZC1734G32
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 1 penny each in the Company
	Identification code	GB00BYN5YK77
b)	Nature of the Transaction	Grant of Options over ordinary shares of 1 penny each in the Company
c)	Price(s) and volume(s)	Price(s) Volume(s) 247.50p  20,000
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	19 April 2023
f)	Place of the transaction	Outside of a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Graham Forbes
2.	Reason for the Notification
a)	Position/status	Chief Financial Officer (Director)
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jersey Oil & Gas plc
b)	LEI	213800RIR1SZC1734G32
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 1 penny each in the Company
	Identification code	GB00BYN5YK77
b)	Nature of the Transaction	Grant of Options over ordinary shares of 1 penny each in the Company
c)	Price(s) and volume(s)	Price(s) Volume(s) 247.50p  100,000
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	19 April 2023
f)	Place of the transaction	Outside of a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Smith
2.	Reason for the Notification
a)	Position/status	Chief Commercial Officer
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Jersey Oil & Gas plc
b)	LEI	213800RIR1SZC1734G32
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 1 penny each in the Company
	Identification code	GB00BYN5YK77
b)	Nature of the Transaction	Grant of Options over ordinary shares of 1 penny each in the Company
c)	Price(s) and volume(s)	Price(s) Volume(s) 247.50p 100,000
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	19 April 2023
f)	Place of the transaction	Outside of a trading venue

 

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