REG - Milton Capital PLC - Strategy Update, Board Changes, Award of Options

Milton CapitalAnnouncement

09/11/2023 07:00

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RNS Number : 8603S  Milton Capital PLC  09 November 2023

9 November 2023

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY MILTON CAPITAL
PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Milton Capital Plc

("Milton" or the "Company")

 

Strategy Update, Board Changes and Award of Options

 

Highlights

·      Company will continue to identify all investment opportunities
but with a primary focus on opportunities in the energy sector

·      Appointment of Nick Pillar as a non-executive director

·      Richard Mays, non-executive director, change of role to
non-executive chairman of the board

·      Awarding of 7,500,000 share options to directors and consultants

 

Following the appointment of a new leadership team, the Company is pleased to
announce a strategy update and the appointment of a new Non-Executive
Director.

 

Strategy Update

The Board of Directors will continue on-going efforts in identifying
opportunities that will not be limited to a particular geographic location.
However, given the collective experience of the Directors, the Company will
primarily focus on opportunities in the energy sector. In particular, the
focus within this sector will be in light to medium hydrocarbon exploration
and extraction and natural hydrogen.

The Directors believe that these types of investment opportunities are
integral to the energy transition and, as such, will provide considerable
growth potential for shareholders.

 

Nicholas ("Nick") William Pillar - Non-Executive Director (aged 73)

 

Nick Pillar holds a BSc in Applied Geology and has over 40 years of experience
in the oil and gas industry. He started his career working for Geophysical
Services Inc in the field and office before joining Enterprise Oil plc in 1990
where he became Head of Geophysical Operations. He spent 2 years as Chief
Geophysicist for Enterprise where he led a team of 60 staff before the company
was taken over by Shell in 2002. Two years were spent in Malaysia with
Petronas Carigali as a consultant. On returning to the UK Nick was asked to
build the service division of Ikonscience, a niche rock physics company,
subsequently becoming Ikon's Operations Director. He has also undertaken
tutoring work at Imperial College, London. In his most recent post, he served
for 10 years as Head of Geophysics for Canadian Overseas Petroleum Limited
where he undertook geophysical analysis of opportunities and assets in the
UKCS, West Africa, and North America.

 

In respect of paragraphs 9.6.13(1) to 9.6.13(6) of the Financial Conduct
Authority's Listing Rules, the below details all directorships held by the
director in any other publicly quoted company at any time in the previous five
years:

 

 Current directorships            Previous directorships

 Nick Pillar and Associates Ltd    N/A

 

Nick Pillar does not hold any ordinary shares in the Company.

 

There is no further information in respect of the appointment of Nick Pillar
which would require disclosure under Listing Rule 9.6.13 R (1) - (6).

 

Edward Dawson, Executive Director commented: "We are excited to have Nick join
the Company to enhance its technical capacity as we gear up to exploit our
experience, network and opportunities in the energy sector. Nick brings many
years of relevant experience as is evidenced by his CV and we look forward to
him working alongside us to create value for shareholders."

 

Award of Options

 

As part of the incentivisation arrangements to drive shareholder value the
Board has approved the following award of options over ordinary shares in the
Company to directors and consultants ("Options").

 

·    Richard Mays: 3,000,000

 

·    Edward Dawson: 3,000,000

 

·    Nick Pillar: 750,000

 

·    Other consultants: 750,000

 

Following the granting of the Options, the Directors will hold:

 

 Director       Options    Investor Warrants
 Richard Mays   3,000,000  8,000,000
 Edward Dawson  3,000,000  8,000,000
 Malcolm Burne  Nil        12,000,000
 Nick Pillar    750,000    Nil

 

 

The Options have an exercise price of 1.5p per share and the Options will vest
on completion of a substantial transaction and will have a life to expiry of 3
years from the date of vesting.

 

 

 

Enquiries

 Milton Capital plc                info@milton-cpaital.co.uk (mailto:info@milton-cpaital.co.uk)

 Directors                         or

 Edward Dawson                     Miltoncapitalplc@gmail.com (mailto:Miltoncapitalplc@gmail.com)

 Peterhouse Capital Limited        +44 (0)20 7469 0930

 Financial Adviser

 Brefo Gyasi / Guy Miller

 Corporate Broker

 Lucy Williams / Duncan Vasey

 

 

PDMR DEALINGS

i)

 Notification and public disclosure of transactions by persons discharging
 managerial responsibilities and persons closely associated with them.

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Richard Mays
 2   Reason for the notification
 a)  Position/status                                              Non-Executive Chairman
 b)  Initial notification /Amendment

                                                                  Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Milton Capital Plc
 b)  LEI                                                          213800HP1JUEEDRXTV09
 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 £0.01 each

     Identification code

                                                                  ISIN:      GB00BMWLC750
 b)  Nature of the transaction                                    Share options grant
 c)  Price(s) and volume(s)                                       Exercise price of each share option :1.5p

                                                                  Volume: 3,000,000

 d)  Aggregated information

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      8 November 2023
 f)  Place of the transaction                                     Main Market

 

 

 

ii)

 Notification and public disclosure of transactions by persons discharging
 managerial responsibilities and persons closely associated with them.

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Edward Dawson
 2   Reason for the notification
 a)  Position/status                                              Executive Director
 b)  Initial notification /Amendment

                                                                  Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Milton Capital Plc
 b)  LEI                                                          213800HP1JUEEDRXTV09
 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 £0.01 each

     Identification code

                                                                  ISIN:      GB00BMWLC750
 b)  Nature of the transaction                                    Share options grant
 c)  Price(s) and volume(s)                                       Exercise price of each share option :1.5p

                                                                  Volume: 3,000,000

 d)  Aggregated information

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      8 November 2023
 f)  Place of the transaction                                     Main Market

 

 

iii)

 Notification and public disclosure of transactions by persons discharging
 managerial responsibilities and persons closely associated with them.

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Nick Pillar
 2   Reason for the notification
 a)  Position/status                                              Non-Executive Director
 b)  Initial notification /Amendment

                                                                  Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Milton Capital Plc
 b)  LEI                                                          213800HP1JUEEDRXTV09
 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 £0.01 each

     Identification code

                                                                  ISIN:      GB00BMWLC750
 b)  Nature of the transaction                                    Share options grant
 c)  Price(s) and volume(s)                                       Exercise price of each share option :1.5p

                                                                  Volume: 750,000

 d)  Aggregated information

     - Aggregated volume

     - Price
 e)  Date of the transaction                                      8 November 2023
 f)  Place of the transaction                                     Main Market

 

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