SEASCAPE ENERGY ASIA PLC

Transaction in Own Shares • Mar 20, 2025

National Storage Mechanism | Additional information

RNS Number : 5059B

Seascape Energy Asia PLC

20 March 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

20 March 2025

Seascape Energy Asia plc

(the "Company", "Seascape Energy" or "Seascape")

Topaz Number One Limited - Payment of Contingent Consideration

Seascape Energy, an E&P company focused on Southeast Asia, is pleased to announce that following the completion of  the farm-out of a 42.5% participating interest in the Block 2A Production Sharing Contract announced on 18th March 2025 ("2A Farmout"), it has paid the first tranche of contingent consideration in relation to the acquisition of Topaz Number One Limited ("Topaz").

As announced on 13 September 2023, the greater part of the consideration for the acquisition of Topaz, whose sole asset was a 15.75% interest in Block 2A, was contingent. The first contingent payment of US$125,000, payable through a further issue of new ordinary shares of 10 pence each in the Company ("Ordinary Shares") of an equivalent value, became due upon an exploration well being committed on Block 2A or a farm-out.

Accordingly following the 2A Farmout, consideration in the form of 278,870 new Ordinary Shares equivalent to US$125,000, based on the average closing price of such Ordinary Shares in the preceding ten days up to the announcement of the completion of the 2A Farmout ("Consideration Shares"), will be issued to the vendors of Topaz, James Menzies (Executive Chairman) and Pierre Eliet (Executive Director).

Admission

Application will be made for the Consideration Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the enlarged share capital, as described below, will commence at 8.00 a.m. on 25 March 2025.

Following Admission, the Company's enlarged issued ordinary share capital will consist of 63,097,816 ordinary shares, with the right to one vote each. The Company will hold no ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 63,097,816. With effect from Admission, this figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

PDMR shareholdings

Following Admission, the interests of James Menzies (Executive Chairman) and Pierre Eliet (Executive Director) in the issued share capital of the Company will be as follows:

	As at 3 1 December 2024			Immediately following Admission
Name	Number of Existing Ordinary Shares held	Percentage of Existing Ordinary Shares held	Number of ConsiderationShares	Number of ordinary shares held	Percentage of Enlarged Share Capital held
James Menzies	2,220,604	3.53%	139,435	2,360,039	3.74%
Pierre Eliet	292,163	0.47%	139,435	431,598	0.68%

Ends

Enquiries:
Seascape Energy Asia plc	[email protected]
James Menzies (Executive Chairman) Nick Ingrassia (Chief Executive) Pierre Eliet (Executive Director)
Stifel (Nomad and Joint Broker)	Tel: +44 20 7710 7600
Callum Stewart Jason Grossman Ashton Clanfield	[email protected]
Cavendish Capital Markets Limited (Joint Broker)	Tel: +44 20 7397 8900
Neil McDonald Pete Lynch

Notification of Deal Forms of each PDMR can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1.

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

James Graeme Menzies

2.

Reason for notification

a)

Position/Status

Executive Chairman

b)

Initial notification/amendment

Initial notification

3.

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

a)

Name

Seascape Energy Asia plc

b)

LEI

213800D1D587TB36ST68

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 and identification code

Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc ISIN: GB00BKFW2482

b)

Nature of transaction

Issue of consideration shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
35.65 pence	139,435

d)

Aggregated Information

n/a

e)

Date of transaction

19 March 2025

f)

Place of transaction

XOFF

1.

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

Pierre Patrick Eliet

2.

Reason for notification

a)

Position/Status

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

Seascape Energy Asia plc

b)

LEI

213800D1D587TB36ST68

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 and identification code

Ordinary Shares of £0.10 each in the capital of Seascape Energy Asia plc ISIN: GB00BKFW2482

b)

Nature of transaction

Issue of consideration shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
35.65 pence	139,435

d)

Aggregated Information

n/a

e)

Date of transaction

19 March 2025

f)

Place of transaction

XOFF

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