I3 ENERGY PLC

Remuneration Information • Oct 12, 2018

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RNS Number : 9337D

i3 Energy PLC

12 October 2018

12 October 2018

i3 Energy plc

("i3" or the "Company")

Issue of Share Options

i3 Energy plc announces that it today has issued a total of 2,917,037 share options ("Options") to Directors and key management in accordance with the rules of the Company's Share Option Plan. The issue of Options to Directors is a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.

The exercise price of the new Options will be £0.635 per share, the closing price of the Company's ordinary shares as at 11 October 2018.  The Options are for ten years and will vest as follows:

·      33.33% on issuance,

·      33.33% upon successful execution of a farmout agreement or at 12 months (whichever occurs first); and

·      33.33% upon Field Development Plan ("FDP") approval or at 24 months (whichever occurs first).

Number of Options today issued to Directors:

Majiq Shafiq	1,000,000
Graham Heath	179,209
Richard Ames	100,000
Neill Carson	100,000

In relation to this transaction, David Knox is considered to be 'independent' for the purposes of AIM Rule 13 in consideration of the issue of the Options. Having consulted with WH Ireland Limited, the Company's Nominated Adviser ("Nomad"), the independent director David Knox considers that the terms of the transaction are fair and reasonable insofar as Shareholders are concerned.

Following this announcement, the Company has in issue 41,017,438 ordinary shares of £0.0001 each, 5,000 deferred shares of £10.00 each, 3,082,052 share options with an exercise price of £0.55, 2,917,037 Options with an exercise price of £0.635.

ENDS

CONTACT DETAILS:

		i3 Energy plc
		Majid Shafiq (CEO) / Graham Heath (CFO)	c/o Camarco Tel: +44 (0) 203 757 4980
		WH Ireland Limited (Nomad and Joint Broker)
		James Joyce, James Sinclair-Ford	Tel: +44 (0) 207 220 1666
		GMP FirstEnergy (Joint Broker)
		Jonathan Wright, David van Erp	Tel: +44 (0) 207 448 0200
		Canaccord Genuity Limited (Joint Broker) Henry Fitzgerald- O'Connor, James Asensio	Tel: +44 (0) 207 523 8000
		Camarco Georgia Edmonds, Jane Glover, James Crothers	Tel: +44 (0) 203 757 4980
		Notes to Editors: i3 is an oil and gas development company initially focused on the North Sea. The Company's core asset is the Greater Liberator Area, located in Blocks 13/23d and 13/23c, containing 11 MMBO of 2P Reserves and 22 MMBO of 2C Contingent Resources and 47 MMBO of mid-case Prospective Resources. The Greater Liberator Area consists of the Liberator oil field discovered by well 13/23d-8 and the Liberator West extension, both of which i3 hold a 100% working interest in. The Company's strategy is to acquire high quality, low risk producing and development assets, to broaden its portfolio and grow its reserves and production. The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

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

Maid Shafiq

2

Reason for the notification

a)

Position/status

CEO

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Share options

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0.635	1,000,000

d)

Aggregated information

-     Aggregated volume

-     Price

1,000,000

£0.635

e)

Date of the transaction

12/10/2018

f)

Place of the transaction

Off market

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Graham Heath

2

Reason for the notification

a)

Position/status

CFO

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Share options

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0.635	179,209

d)

Aggregated information

-     Aggregated volume

-     Price

179,209

£0.635

e)

Date of the transaction

12/10/2018

f)

Place of the transaction

Off market

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Richard Ames

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Share options

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0.635	100,000

d)

Aggregated information

-     Aggregated volume

-     Price

100,000

£0.635

e)

Date of the transaction

12/10/2018

f)

Place of the transaction

Off market

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Neill Carson

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification/ Amendment

Initial

3

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

a)

Name

i3 Energy PLC

b)

LEI

213800949OZA9QA9FS17

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

Share options

b)

Nature of the transaction

Share Option Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£0.635	100,000

d)

Aggregated information

-     Aggregated volume

-     Price

100,000

£0.635

e)

Date of the transaction

12/10/2018

f)

Place of the transaction

Off market

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END

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