Grant of Options and PDMR Notification

RNS Number : 7801F

Pennpetro Energy PLC

02 November 2018

 

2 November 2018

Pennpetro Energy Plc

("Pennpetro" or the "Company")

Grant of Options

The Company announces that, as outlined and in line with the prospectus published on 15th December 2017, on 2nd November 2018 it granted options under the Pennpetro Energy Plc Option Share Plan with an exercise price of £0.35p per share over, in aggregate, 1,700,000 ordinary shares of £0.01 each in the Company ("Ordinary Shares") (the "Options") to Directors Keith Edelman, Phillip Nash, Tom Evans and Olof Rapp, who will each receive 425,000 Options.

As a result of these Options being granted, the interests of the Directors in options over Ordinary Shares is as follows:

Director	Options granted	Total Options
Keith Edelman (Non-executive director and Chairman)	425,000	425,000
Olof Rapp (Senior non-executive director)	425,000	425,000
Tom Evans (Executive director)	425,000	425,000
Phillip Nash (Non-executive director and Chief Financial Officer)	425,000	425,000

The Options shall vest and become exercisable on the 2nd November 2021, being three years from the date of grant of the Options.

The Options are equivalent to 2.4 per cent. of the Company's current issued share capital. The total number of Ordinary Shares currently in issue is 70,900,000.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.

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	Keith Graham Edelman
2.	Reason for the Notification
a)	Position/status	Non-executive director and Chairman
b)	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	PennPetro Energy Plc
b)	LEI	213800BNN7UN97NVP509
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	Grant of options over ordinary shares of £0.01
	Identification code	ISIN: GB00BF2K5076
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 35p 425,000
d)	Aggregated information: ·    Aggregated volume ·    Price	N/A
e)	Date of the transaction	2 November 2018
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Olof Rapp
2.	Reason for the Notification
a)	Position/status	Senior 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	PennPetro Energy Plc
b)	LEI	213800BNN7UN97NVP509
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	Grant of options over ordinary shares of £0.01
	Identification code	ISIN: GB00BF2K5076
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 35p 425,000
d)	Aggregated information: ·    Aggregated volume ·    Price	N/A
e)	Date of the transaction	2 November 2018
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tom Evans
2.	Reason for the Notification
a)	Position/status	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	PennPetro Energy Plc
b)	LEI	213800BNN7UN97NVP509
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	Grant of options over ordinary shares of £0.01
	Identification code	ISIN: GB00BF2K5076
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 35p 425,000
d)	Aggregated information: ·    Aggregated volume ·    Price	N/A
e)	Date of the transaction	2 November 2018
f)	Place of the transaction	Off market transaction

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Phillip Nash
2.	Reason for the Notification
a)	Position/status	Non-executive director and 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	PennPetro Energy Plc
b)	LEI	213800BNN7UN97NVP509
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	Grant of options over ordinary shares of £0.01
	Identification code	ISIN: GB00BF2K5076
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 35p 425,000
d)	Aggregated information: ·    Aggregated volume ·    Price	N/A
e)	Date of the transaction	2 November 2018
f)	Place of the transaction	Off market transaction

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries

Pennpetro Energy Plc

88 Whitfield Street

First Floor

London

W1T 4EZ

[e-mail]  

Instinctif
David Simonson	[e-mail]	[phone]
George Yeomans	[e-mail]	[phone]

NOTES TO EDITORS

Pennpetro Energy is an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA. Shares in the company were admitted to the Official List of the London Stock Exchange by way of a Standard Listing on 21 December 2017.

Further information on the Company can be found at www.pennpetroenergy.co.uk 

 

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