AFENTRA PLC

Director's Dealing • Aug 10, 2022

National Storage Mechanism | Additional information

RNS Number : 5455V

Afentra PLC

10 August 2022

10 August 2022

AFENTRA PLC

DIRECTOR / PDMR DEALINGS

The following amendment has been made to the 'Director/PDMR Dealings' announcement released on 10 August 2022 at 7.10 a.m. under RNS No 5307V. The description of the volumes in section 4(c) of each of the Director's notifications below has been amended to reflect the terms of the Founders Share Plan more accurately. All other details remain unchanged. The full amended text is shown below.

Afentra plc ('Afentra' or the 'Company') announces that on 5 August 2022 the Company made conditional awards under the  Founders Share Plan (the "Founders Plan"), the principal terms of which were previously set out in the Company's report and accounts, to the executive directors of the Company as set out below:

Director / PDMR	Position	Percentage entitlement of conditional award
Paul McDade	Chief Executive Officer	41.5%
Anastasia Deulina	Chief Financial Officer	27.5%
Ian Cloke	Chief Operating Officer	31.0%

The conditional awards comprise a conditional right to be granted a nil cost option over Ordinary Shares of the Company on the basis set out in paragraph 6.1.3 of Part 7 of the Company's admission document published on the date hereof.  The conditional awards are subject to the completion of the acquisition by the Company's subsidiary, Afentra (Angola) Ltd of a 20% interest in Block 3/05 , offshore Angola from Sonangol P&P pursuant to a sale and purchase agreement dated 20 April 2022.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Paul McDade

2.         

Reason for the notification

a.         

Position/status

Chief Executive Officer

b.         

Initial notification/Amendment

Initial Notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.         

Name

Afentra plc

b.         

LEI

21380028BFDFJK8BRX92

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

Ordinary shares of £0.10 per share par value

GB00B4X3Q493

b.         

Nature of the transaction

Conditional award of right to be granted nil cost options

c.         

Price(s) and volume(s)

Price(s)	Volume(s)
n/a	Such number of shares as equals 41.5% of 15% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant

d.         

Aggregated information

·Aggregated volume

·Price

As above

e.         

Date of the transaction

5 August 2022

f.         

Place of the transaction

Off exchange

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Anastasia Deulina

2.         

Reason for the notification

a.         

Position/status

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

Afentra plc

b.         

LEI

21380028BFDFJK8BRX92

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

Ordinary shares of £0.10 per share par value

GB00B4X3Q493

b.         

Nature of the transaction

Conditional award of right to be granted nil cost  ptions

c.         

Price(s) and volume(s)

Price(s)	Volume(s)
n/a	Such number of shares as equals 27.5% of 15% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant

d.         

Aggregated information

·Aggregated volume

·Price

As above

e.         

Date of the transaction

5 August 2022

f.         

Place of the transaction

Off exchange

1.         

Details of the person discharging managerial responsibilities / person closely associated

a.         

Name

Ian Cloke

2.         

Reason for the notification

a.         

Position/status

Chief Operating Officer

b.         

Initial notification/Amendment

Initial Notification

3.         

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.         

Name

Afentra plc

b.         

LEI

21380028BFDFJK8BRX92

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

Ordinary shares of £0.10 per share par value

GB00B4X3Q493

b.         

Nature of the transaction

Conditional award of right to be granted nil cost options

c.         

Price(s) and volume(s)

Price(s)	Volume(s)
n/a	Such number of shares as equals 31.0% of 15% of the value created above a starting share price of £0.15 if a hurdle price of £0.30 is met up to a maximum calculated by reference to the issued share capital at time of grant

d.         

Aggregated information

·Aggregated volume

·Price

As above

e.         

Date of the transaction

5 August 2022

f.         

Place of the transaction

Off exchange

For further information, contact

Afentra plc  +44 (0)20 7405 4133  Paul McDade, CEO Anastasia Deulina, CFO
Buchanan (Financial PR) +44 (0)20 7466 5000 Ben Romney Jon Krinks
Peel Hunt LLP (Nominated Advisor and Joint Broker)  +44 (0)20 7418 8900 Richard Crichton Paul Gillam David McKeown
Tennyson Securities (Joint Broker)  +44 (0)20 7186 9033 Peter Krens About Afentra Afentra plc (AIM:AET) is an upstream oil and gas company focused on opportunities in Africa. The Company's purpose is to support a responsible energy transition in Africa by establishing itself as a credible partner for divesting IOCs and Host Governments.  Afentra has a current carried interest in the Odewayne Block onshore southwestern Somaliland.

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