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PROSPEX ENERGY PLC
Remuneration Information • Sep 23, 2022
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 5078A
Prospex Energy PLC
23 September 2022
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
23 September 2022
Prospex Energy PLC
('Prospex' or the 'Company')
Exercise of Options and TVR and Award of Options
Prospex Energy PLC, the AIM-quoted investment company focused on European gas and power projects, announces that it has received notices for the exercise of options to subscribe for 2,191,947 new ordinary shares of 0.1p each in the Company ("Ordinary Shares"). The options were issued pursuant to option agreements dated 20 July 2020 and have been exercised by two directors and an employee of the Company, further details on which are below. The exercise price is 4 pence per option exercised, therefore generating proceeds of £87,677.88, in aggregate, for the Company. The Board of Directors as a whole have no current intention of selling any of their Ordinary Shares held, including those issued on the exercise of these options.
Admission to Trading and Total Voting Rights
The Company has applied to the London Stock Exchange for admission of 2,191,947 new Ordinary Shares to trading on AIM ('Admission'). Admission is expected to occur on or around 29 September 2022. Following Admission, there will be a total of 272,984,675 Ordinary Shares in issue. This will be the number of Ordinary Shares that may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.
Award of Options
The Company has today granted a total of 3,600,000 share options in the Company to its Board of Directors. The new options awarded represent approximately 1.3% of the issued share capital of the Company following Admission. The new options award results in the total number of options held by the Board of Directors and management of 8,593,468 options, which represents approximately 3.1% of the issued share capital following Admission.
The new options have been awarded at 8.15p per share representing a 3.2% premium to 7.90p, the closing price on 22 September 2022. The options vest immediately and are exercisable for a period of five years.
The options to be issued are set out below:
| Mark Routh | 900,000 |
| William Smith | 900,000 |
| Alasdair Buchanan | 900,000 |
| Richard Mays | 900,000 |
| Total | 3,600,000 |
Options currently held by directors: -
| Director | Expiry 31/3/25 | Strike Price | Expiry 17/3/25 | Strike Price | Total |
| William Smith | 21,669 | 75p | 900,000 | 5p | 921,669 |
| Richard Mays | 21,669 | 75p | 900,000 | 5p | 921,669 |
| Alasdair Buchanan | - | - | 900,000 | 5p | 900,000 |
| Mark Routh | - | - | 2,100,000 | 5p | 2,100,000 |
| Totals | 43,338 | 4,800,000 | 4,843,338 |
Directors' total interest in options after this award:
| Director | Number | % of share capital following Admission |
| Mark Routh | 3,000,000 | 1.1% |
| William Smith | 1,821,669 | 0.7% |
| Richard Mays | 1,821,669 | 0.7% |
| Alasdair Buchanan | 1,800,000 | 0.7% |
| Total | 8,443,338 | 3.1% |
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
* * ENDS * *
For further information visit www.prospex.energy or contact the following:
| Mark Routh | Prospex Energy PLC | Tel: +44 (0) 20 7236 1177 |
| Ritchie Balmer Rory Murphy |
Strand Hanson Limited | Tel: +44 (0) 20 7409 3494 |
| Andrew Monk (Corporate Broking) Andrew Raca/Alex Cabral (Corporate Finance) |
VSA Capital Limited | Tel: +44 (0) 20 3005 5000 |
| Colin Rowbury Jon Belliss |
Novum Securities Limited | Tel: +44 (0) 20 7399 9427 |
| Susie Geliher Ana Ribeiro |
St Brides Partners Limited | Tel: +44 (0) 20 7236 1177 |
PDMR Notification
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
William Smith
2.
Reason for the Notification
a)
Position/status
Director
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
Identification code
GB00BMFZVZ53
b)
Nature of the Transaction
Issue of options to acquire Ordinary Shares over the next 5 years
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 8.15 pence | 900,000 |
d)
Aggregated information
Aggregated volume Price
N/A (Single Transaction)
e)
Date of the transaction
23 September 2022
f)
Place of the transaction
AIM
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Alasdair Buchanan
2.
Reason for the Notification
a)
Position/status
Director
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
Identification code
GB00BMFZVZ53
b)
Nature of the Transaction
Issue of options to acquire Ordinary Shares over the next 5 years
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 8.15 pence | 900,000 |
d)
Aggregated information
Aggregated volume Price
N/A (Single Transaction)
e)
Date of the transaction
23 September 2022
f)
Place of the transaction
AIM
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Mays
2.
Reason for the Notification
a)
Position/status
Director
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
Identification code
GB00BMFZVZ53
b)
Nature of the Transaction
Issue of options to acquire Ordinary Shares over the next 5 years
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 8.15 pence | 900,000 |
d)
Aggregated information
Aggregated volume Price
N/A (Single Transaction)
e)
Date of the transaction
23 September 2022
f)
Place of the transaction
AIM
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Mark Routh
2.
Reason for the Notification
a)
Position/status
Director
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
Identification code
GB00BMFZVZ53
b)
Nature of the Transaction
Issue of options to acquire Ordinary Shares over the next 5 years
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 8.15 pence | 900,000 |
d)
Aggregated information
Aggregated volume Price
N/A (Single Transaction)
e)
Date of the transaction
23 September 2022
f)
Place of the transaction
AIM
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
William Smith
2.
Reason for the Notification
a)
Position/status
Director
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
Identification code
GB00BMFZVZ53
b)
Nature of the Transaction
Exercise of options to acquire Ordinary Shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 4 pence | 810,720 |
d)
Aggregated information
Aggregated volume Price
N/A (Single Transaction)
e)
Date of the transaction
23 September 2022
f)
Place of the transaction
AIM
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Mays
2.
Reason for the Notification
a)
Position/status
Director
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
Identification code
GB00BMFZVZ53
b)
Nature of the Transaction
Exercise of options to acquire Ordinary Shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 4 pence | 810,720 |
d)
Aggregated information
Aggregated volume Price
N/A (Single Transaction)
e)
Date of the transaction
23 September 2022
f)
Place of the transaction
AIM
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Grant Glanfield
2.
Reason for the Notification
a)
Position/status
Senior Management
b)
Initial notification/amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Prospex Energy Plc
b)
LEI
213800NY9RH8O1B72D27
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
Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
Identification code
GB00BMFZVZ53
b)
Nature of the Transaction
Exercise of options to acquire Ordinary Shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 4 pence | 570,507 |
d)
Aggregated information
Aggregated volume Price
N/A (Single Transaction)
e)
Date of the transaction
23 September 2022
f)
Place of the transaction
AIM
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