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JERSEY OIL AND GAS PLC
Remuneration Information • May 3, 2022
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 9802J
Jersey Oil and Gas PLC
03 May 2022
3 May 2022
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, on 29 April 2022, it granted options over, in aggregate, 990,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to directors, senior management and employees at an exercise price of 230 pence per Ordinary Share (the "Options"), being the middle market closing price on 29 April 2022, the latest practicable date prior to this announcement.
Accordingly, a total of 3,594,002 option awards are outstanding following these latest grants, which represents approximately 11.0 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 Executive Directors and/or Officers of the Company:
| 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 | 290,000 | 230 | 7 years | 650,000 |
| Graham Forbes | Chief Financial Officer | 150,000 | 230 | 7 years | 500,000 |
| Richard Smith | Chief Commercial Officer | 150,000 | 230 | 7 years | 500,000 |
The new Options set out in the table above for Executive Directors and/or Officer's 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 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 | 75,000 | 230 | 5 years | 75,000 |
| Marcus Stanton | Non-Executive Director | 30,000 | 230 | 5 years | 110,000 |
| Frank Moxon | Non-Executive Director | 30,000 | 230 | 5 years | 80,000 |
The new Options set out in the table above for Non-Executive Directors 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 265,000 new Options, in aggregate, have been granted to certain other members of senior management and employees at the same exercise price of 230 pence per Ordinary Share.
Enquiries:
| Jersey Oil and Gas plc | Andrew Benitz, CEO | C/o Camarco: Tel: 020 3757 4983 |
| Strand Hanson Limited | James Harris Matthew Chandler James Bellman |
Tel: 020 7409 3494 |
| Arden Partners plc | Paul Shackleton | Tel: 020 7614 5900 |
| finnCap Ltd | Christopher Raggett Tim Redfern |
Tel: 020 7220 0500 |
| Camarco | Billy Clegg James Crothers |
Tel: 020 3757 4983 |
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 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
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 pence each in the Company |
| Identification code | GB00BYN5YK77 | |
| b) | Nature of the Transaction | Grant of Options over ordinary shares of 1 pence each in the Company |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 230p 290,000 |
| d) | Aggregated information Aggregated volume Price |
N/A (Single transaction) |
| e) | Date of the transaction | 29 April 2022 |
| 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 pence each in the Company |
| Identification code | GB00BYN5YK77 | |
| b) | Nature of the Transaction | Grant of Options over ordinary shares of 1 pence each in the Company |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 230p 75,000 |
| d) | Aggregated information Aggregated volume Price |
N/A (Single transaction) |
| e) | Date of the transaction | 29 April 2022 |
| 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 pence each in the Company |
| Identification code | GB00BYN5YK77 | |
| b) | Nature of the Transaction | Grant of Options over ordinary shares of 1 pence each in the Company |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 230p 30,000 |
| d) | Aggregated information Aggregated volume Price |
N/A (Single transaction) |
| e) | Date of the transaction | 29 April 2022 |
| 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 (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 pence each in the Company |
| Identification code | GB00BYN5YK77 | |
| b) | Nature of the Transaction | Grant of Options over ordinary shares of 1 pence each in the Company |
| c) | Price(s) and volume(s) | Price(s) Volume(s) 230p 30,000 |
| d) | Aggregated information Aggregated volume Price |
N/A (Single transaction) |
| e) | Date of the transaction | 29 April 2022 |
| 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) 230p 150,000 |
| d) | Aggregated information Aggregated volume Price |
N/A (Single transaction) |
| e) | Date of the transaction | 29 April 2022 |
| 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) 230p 150,000 |
| d) | Aggregated information Aggregated volume Price |
N/A (Single transaction) |
| e) | Date of the transaction | 29 April 2022 |
| f) | Place of the transaction | Outside of a trading venue |
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