REG - Pharos Energy PLC - Grant of Share Awards to Directors/PDMRs
01/05/2024 07:30
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RNS Number : 6798M Pharos Energy PLC 01 May 2024
Pharos Energy plc
("Pharos" or the "Company" or, together with its subsidiaries, the "Group")
GRANT OF SHARE AWARDS TO DIRECTORS/PDMRs
The Company announces that on 30 April 2024, its Executive Directors and
Persons Discharging Managerial Responsibilities ("PDMRs") were granted share
awards over ordinary shares of £0.05 each in the Company ("Shares") as
follows:
1. Awards under the Company's Deferred Share Bonus Plan
Nil-cost options relating to a performance related annual bonus earned for
2023, granted under the Pharos Energy plc 2014 Deferred Share Bonus Plan (the
"DSBP") as set out below:-
Director/PDMR Position No of Shares granted under the DSBP
Jann Brown Chief Executive Officer 591,851
Sue Rivett Chief Financial Officer 394,567
The number of Shares granted is equivalent to the relevant proportion of the
2023 annual bonus deferred, calculated on the basis of the middle market
quotation (as derived from the Daily Official List) on the dealing day
immediately preceding the date of grant (£0.229). Subject to the rules of the
DSBP, these Shares will generally vest over two years from the date of grant.
2. Awards under the Company's Long-Term Incentive Plan
Nil-price options under the Company's Long-Term Incentive Plan ("LTIP") as set
out below:
Director Position No of Shares granted under the LTIP
Sue Rivett Chief Financial Officer 2,592,139
PDMR Position No of Shares granted under the LTIP
Mohamed Sayed Group Head of Technical 300,000
These awards will generally vest over three years from the date of grant,
subject to the satisfaction of certain performance conditions and for the
Executive Director, a subsequent two-year holding period.
Enquiries
Pharos Energy plc
Tel: 0207 603 1515
Tony Hunter, Company Secretary
Camarco
Tel: 020 3757 4980
Billy Clegg |Rebecca Waterworth |Kirsty Duff |Andrew Turner
Notes to editors
Pharos Energy plc is an independent oil and gas exploration and production
company with a focus on sustainable growth and returns to stakeholders, which
is listed on the London Stock Exchange. Pharos has production, development
and/or exploration interests in Egypt and Vietnam. In Egypt, Pharos holds a
45% working interest share in the El Fayum Concession in the Western Desert,
with IPR Lake Qarun, part of the international integrated energy business IPR
Energy Group, holding the remaining 55% working interest. The El Fayum
Concession produces oil from 10 fields and is located 80 km southwest of
Cairo. It is operated by Petrosilah, a 50/50 joint stock company between the
contractor parties (being IPR Lake Qarun and Pharos) and the Egyptian General
Petroleum Corporation (EGPC). Pharos also holds a 45% working interest share
in the North Beni Suef (NBS) Concession in Egypt, which is located immediately
south of the El Fayum Concession. IPR Lake Qarun operates and holds the
remaining 55% working interest in the NBS Concession. In Vietnam, Pharos has a
30.5% working interest in Block 16-1 which contains 97% of the Te Giac Trang
(TGT) field and is operated by the Hoang Long Joint Operating Company.
Pharos' unitised interest in the TGT field is 29.7%. Pharos also has a 25%
working interest in the Ca Ngu Vang (CNV) field located in Block 9-2, which is
operated by the Hoan Vu Joint Operating Company. Blocks 16-1 and 9-2 are
located in the shallow water Cuu Long Basin, offshore southern Vietnam.
Pharos also holds a 70% interest in, and is designated operator of, Blocks 125
& 126, located in the moderate to deep water Phu Khanh Basin, north east
of the Cuu Long Basin, offshore central Vietnam.
1 Details of the person discharging managerial responsibilities
a) Name JANN BROWN
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name PHAROS ENERGY PLC
b) LEI 549300DDKLXYLLO4N524
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 £0.05 EACH
Identification code
GB00B572ZV91
b) Nature of the transaction Grant of nil-cost options under the Pharos Energy plc 2014 Deferred Bonus Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.00 591,851
d) Aggregated information N/A single transaction
e) Date of the transaction 30/04/2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
N/A single transaction
e)
Date of the transaction
30/04/2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities
a) Name SUE RIVETT
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name PHAROS ENERGY PLC
b) LEI 549300DDKLXYLLO4N524
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 £0.05 EACH
Identification code
GB00B572ZV91
b) Nature of the transaction Grant of nil-cost options under the Pharos Energy plc 2014 Deferred Bonus Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.00 394,567
d) Aggregated information N/A single transaction
e) Date of the transaction 30/04/2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
N/A single transaction
e)
Date of the transaction
30/04/2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities
a) Name SUE RIVETT
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name PHAROS ENERGY PLC
b) LEI 549300DDKLXYLLO4N524
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 £0.05 EACH
Identification code
GB00B572ZV91
b) Nature of the transaction Grant of nil-price options under the Pharos Energy plc Long-Term Incentive
Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.00 2,592,139
d) Aggregated information N/A single transaction
e) Date of the transaction 30/04/2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
N/A single transaction
e)
Date of the transaction
30/04/2024
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities
a) Name MOHAMED SAYED
2 Reason for the notification
a) Position/status Group Head of Technical
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name PHAROS ENERGY PLC
b) LEI 549300DDKLXYLLO4N524
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 £0.05 EACH
Identification code
GB00B572ZV91
b) Nature of the transaction Grant of nil-price options under the Pharos Energy plc Long-Term Incentive
Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£0.00 300,000
d) Aggregated information N/A single transaction
e) Date of the transaction 30/04/2024
f) Place of the transaction Outside a trading venue
d)
Aggregated information
N/A single transaction
e)
Date of the transaction
30/04/2024
f)
Place of the transaction
Outside a trading venue
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