SUNDA ENERGY PLC — Director's Dealing 2018

Nov 27, 2018

National Storage Mechanism | Additional information

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RNS Number : 6520I

Baron Oil PLC

27 November 2018

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

27 November 2018

Baron Oil Plc

("Baron Oil" or "the Company")

Grant of Share Options

Baron Oil (AIM: BOIL) announces that the Company has issued 10,000,000 Share Options to each of Malcolm Butler, Chairman and Chief Executive Officer, and Geoff Barnes, Finance Director and Company Secretary.

The Share Options have an exercise price of 0.435p, being the mid-market closing price on 26 November 2018 and, as with the existing Share Options, vest immediately and have an exercise period of 3 years from the date of grant.

The Company is considering issuing Share Options to Andrew Yeo, non-executive director, and a further announcement will be made in due course, if appropriate.

Following the issue of these Share Options, the number of Share Options in issue is as follows:

Holder	New Options	Exercise Price*	Existing Options	Exercise Price	Total Options	% of Fully Diluted Shares**
Malcolm Butler	10,000,000	0.435p	20,000,000	0.35p	30,000,000	2.09%
Geoff Barnes	10,000,000	0.435p	10,500,000	0.35p	20,500,000	1.43%
Andrew Yeo	-	-	-	-	-	-
William Colvin	-	-	10,500,000	0.35p	10,500,000	0.73%
Total	20,000,000		41,000,000		61,000,000	4.24%
*closing mid-market price of Ordinary Shares the day before grant				**Issued Share Capital 1,376,409,576

The issue of the Share Options is a related party transaction under Rule 13 of the AIM Rules for Companies.

Andrew Yeo, being the independent director and having consulted the Company's Nominated Adviser, considers that the terms of the issue of the Share Options to Malcolm Butler and Geoff Barnes are fair and reasonable insofar as the shareholders of the Company are concerned.

PDMR Notification

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

Malcolm Butler

2.             

Reason for notification

(b)          

Position/status

Chairman and Chief Executive Officer

(c)           

Initial notification/ Amendment

Initial notification

3.             

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

(d)          

Name of entity

Baron Oil Plc

(e)           

LEI

213800MBSOS9UZ5SW712

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 0.025 pence each in the Company

(b)          

Identification code

GB00B01QGH57

(c)           

Nature of the transaction

Grant of options over ordinary shares

(d)          

Price(s) and volume(s)

Prices(s)	Volume(s)
0.435 pence	10,000,000

(e)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Prices(s)	Volume(s)
0.435 pence	10,000,000

(f)           

Date of transaction

27 November 2018

(g)           

Place of transaction

Outside a trading venue

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

Geoffrey Barnes

2.             

Reason for notification

(a)          

Position/status

Finance Director and Company Secretary

(b)          

Initial notification/ Amendment

Initial notification

3.             

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

(a)          

Name of entity

Baron Oil Plc

(b)          

LEI

213800MBSOS9UZ5SW712

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

(c)           

Description of the financial instrument, type of instrument

Options over ordinary shares of 0.025 pence each in the Company

(d)          

Identification code

GB00B01QGH57

(e)           

Nature of the transaction

Grant of options over ordinary shares

(f)           

Price(s) and volume(s)

Prices(s)	Volume(s)
0.435 pence	10,000,000

(g)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Prices(s)	Volume(s)
0.435 pence	10,000,000

(h)          

Date of transaction

27 November 2018

(i)           

Place of transaction

Outside a trading venue

For further information, please contact:

Baron Oil Plc	+44 (0)1892 838 948
Malcolm Butler, Chairman & Chief Executive Officer
SP Angel Corporate Finance LLP	+44 (0)20 3470 0470
Nominated Adviser and Joint Broker
Lindsay Mair, Richard Hail, Richard Redmayne

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