REG - Pharos Energy PLC - Increase in Director/PDMR Shareholdings

Pharos EnergyAnnouncement

13/05/2024 07:30

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RNS Number : 0685O  Pharos Energy PLC  13 May 2024

 

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

 

 

Increase in Director/PDMR Shareholdings

 

The Company announces that, on 10 May 2024, its Executive Director and Persons
Discharging Managerial Responsibility ("PDMRs") increased their shareholdings
pursuant to the vesting of nil-cost share awards ("Awards") under the
Company's Deferred Share Bonus Plan 2014 ("DSBP") over ordinary shares of
£0.05 each in the Company ("Shares"), as set out in the table below.

 

The Awards were originally granted in 2022 to vest and become exercisable
after two years at nil cost in respect of a proportion of the performance
related annual bonus earned in the 2021 financial year.

 

 Director/   Position                        Grant Date     Awards       Shares sold                                Average Price achieved  Shares Acquired and held  Total number                            % of Company's Issued Share Capital (excluding treasury shares)

 PDMR                                                       exercised*   to settle tax liabilities                                                                    of Shares held following transactions

                                                                         and associated costs arising on exercise
 Sue Rivett  Chief Financial Officer         25 March 2024  145,431      68,491                                     £0.226207               76,940                    368,981                                 0.088%
 Jann Brown  Chief Executive Officer (PDMR)  25 March 2024  598,510      281,867                                    £0.226207               316,643                   2,622,077                               0.624%

*Includes accrued dividends

 

The shares delivered to the Directors under the DSBP are from those held by
the Pharos employee benefit trust to satisfy such Awards. There is therefore
no increase in the issued share capital of the Company as a result of the
vesting and exercise of these Awards.

 

For further information, please contact:

Pharos Energy plc
 
Tel: 0207 603 1515

Tony Hunter, Company Secretary

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                                                         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                                    1.   Exercise of nil-cost share awards under the Company's Deferred Share

                                                            Bonus Plan 2014.

                                                            2.   Sale of a proportion of the resulting shares to cover tax liabilities
                                                                   and associated costs arising on exercise.

 c)   Price(s) and volume(s)

Exercise
                                                                   Price(s)     Volume(s)

                                                                   £0.00        145,431
                                                                   Sale of proportion of resulting shares
                                                                   Price(s)     Volume(s)

                                                                   £0.226207    68,491
 d)   Aggregated information                                       Transaction type            Aggregated Volume(s)        Price(s)

      -       Aggregated volume

      -       Price

      Exercise of share awards                                                                 145,431                     £0.00
      Sale of a proportion of resulting shares                                                 68,491                      £15,493.14
 e)   Date of the transaction                                      10/05/24

 f)   Place of the transaction                                     X-LON

d)

 

Aggregated information

 

-       Aggregated volume

 

-       Price

 

Transaction type

Aggregated Volume(s)

Price(s)

 

Exercise of share awards

145,431

£0.00

Sale of a proportion of resulting shares

68,491

£15,493.14

e)

 

Date of the transaction

 

10/05/24

f)

 

Place of the transaction

 

X-LON

 

 

 1    Details of the person discharging managerial responsibilities

 a)   Name                                                         JANN BROWN
 2    Reason for the notification
 a)   Position/status                                              Chief Executive Officer (PDMR)

 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                                    3.   Exercise of nil-cost share awards under the Company's Deferred Share

                                                            Bonus Plan 2014.

                                                            4.   Sale of a proportion of the resulting shares to cover tax liabilities
                                                                   and associated costs arising on exercise.

 c)   Price(s) and volume(s)

Exercise
                                                                   Price(s)     Volume(s)

                                                                   £0.00        598,510
                                                                   Sale of proportion of resulting shares
                                                                   Price(s)     Volume(s)

                                                                   £0.226207    281,867
 d)   Aggregated information                                       Transaction type            Aggregated Volume(s)        Price(s)

      -       Aggregated volume

      -       Price

      Exercise of share awards                                                                 598,510                     £0.00
      Sale of a proportion of resulting shares                                                 281,867                     £63,760.29
 e)   Date of the transaction                                      10/05/24

 f)   Place of the transaction                                     X-LON

d)

 

Aggregated information

 

-       Aggregated volume

 

-       Price

 

Transaction type

Aggregated Volume(s)

Price(s)

 

Exercise of share awards

598,510

£0.00

Sale of a proportion of resulting shares

281,867

£63,760.29

e)

 

Date of the transaction

 

10/05/24

f)

 

Place of the transaction

 

X-LON

 

 

 

 

 

 

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