PDMR Share Dealing

RNS Number : 5638V

Vaalco Energy Inc

15 April 2021

 

15 April 2021

PDMR Share Dealing

VAALCO Energy, Inc. ("VAALCO" or "Company") announces the exercise of Stock Appreciation Rights ("SARs") on 9 April 2021 by   Cary Bounds, a person discharging managerial responsibility in the Company, in the number set out below, which was satisfied for the amount of cash set out below (such amount being net of the grant price and taxes ).

Name	Role at time of exercise	Nature of transaction	Number of SARs	Aggregate net cash to satisfy exercise of SARs ($)
Cary Bounds	CEO	Exercise of SARs	1,358,549	1,060,743.50

Option awards in the Company were vested and exercised by Cary Bounds on 9 April 2021, a person discharging managerial responsibility in the Company, as listed below.

Name	Role at time of exercise	Nature of transaction	Number of shares over which options exercised	Exercise price per share ($)	Number of shares received after withholding of shares to cover taxes and costs
Cary Bounds	CEO	Exercise of options	375,039	2.25	118,278

This exercise of options triggered immediate tax liabilities and other costs that were satisfied by the disposal of the number of Common Shares listed below.

Name	Role at time of exercise	Nature of transaction	Number of Common Shares	Disposal Price per share ($)
Cary Bounds	CEO	Disposal of Common Shares	256,761	2.25

About VAALCO

VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

The Company is an established operator within the region, holding a 63.6% participating interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 120 million barrels of crude oil and of which the Company is the operator.

For Further Information

VAALCO Energy, Inc. (General and Investor Enquiries)	+00 1 713 623 0801
Website:	www.vaalco.com
Al Petrie Advisors (US Investor Relations)	+00 1 713 543 3422
Al Petrie / Chris Delange
Buchanan (UK Financial PR)	[phone]
Ben Romney / Kelsey Traynor  /  James Husband	[e-mail]

Notification of dealings in shares by PDMR's of the Company:

1.	Details of PDMR / PDMR Associate
(a)	Name	Cary Bounds
(b)	Position / status	Chief Executive Officer (at time of exercise)
(c)	Initial notification / amendment	Initial Notification
2.	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	Stock Appreciation Rights ("SARs") and Options over Common Shares ("Options")
(b)	Nature of the transaction	Exercise of SARs and Options
(c)	Price(s) and volume(s)	Exercise of SARs (before taxes and other costs): Price: US $2.25 Volume: 1,358,549 Total: US $3,056,735.25   Exercise of Options (before taxes and other costs): Price: US $2.25 Volume: 375,039  Total: US $843,838
(d)	Aggregated information Aggregated volume Price	Volume: 1,733,588 Price: $2.25
(e)	Date of the transaction	9 April 2021
(f)	Place of the transaction	USA

1.	Details of PDMR / PDMR Associate
(a)	Name	Cary Bounds
(b)	Position / status	Chief Executive Officer & Chief Operating Officer
(c)	Initial notification / amendment	Initial Notification
2.	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	Common Shares to satisfy tax withholding obligations and other costs upon exercise of stock options
(b)	Nature of the transaction	Disposal of Common Shares to satisfy tax withholding obligations  and other costs upon exercise of Options
(c)	Price(s) and volume(s)	Price: US $2.25 Volume: 256,761 Total: US $577,712.25
(d)	Aggregated information Aggregated volume Price	n/a
(e)	Date of the transaction	9 April 2021
(f)	Place of the transaction	USA

 

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