Adjudicación y cancelación simultánea de opciones
Europa Oil & Gas (Holdings) plc / Índice: AIM / Epic: EOG / Sector: Petróleo y Gas
19 de enero de 2024
Europa Oil & Gas (Participaciones) plc
("Europa" o la "Sociedad")
Adjudicación y cancelación simultánea de opciones
Europa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and West Africa focused oil and gas exploration, development, and production company, is pleased to announce an updated enterprise management incentive (EMI) scheme for directors and employees and the concurrent cancellation of certain historical options.
The Board recognises the importance of share options to appropriately incentivise and retain talent, as well as to ensure their interests are aligned with that of the Company and its shareholders. Following a third-party independent review of the Company's remuneration packages by external consultants, the Remuneration Committee of the Board agreed in full with the review's observations that the existing long-term incentive package for employees and directors was no longer appropriate and the board adopted in full its recommendations that it should be replaced to re-align the option scheme with the current strategic focus of the Company.
Accordingly, the Company has cancelled, with mutual agreement and immediate effect, 10,241,000 of existing EMI options over ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") (the "Historical EMI Options") and will cancel the 2,950,000 options held by Brian O'Cathain, following which he will no longer hold any options in the Company.
On 17 January 2024 (the "Grant Date"), under the Company's new EMI scheme, Europa granted a total of 50,000,000 options over Ordinary Shares (the "New EMI Options"), a portion of which are to replace the Historical EMI Options, as detailed in the table below.
Number of New EMI Options Granted | Exercise Price of New EMI Options Granted | Número de opciones retenidas | Number of options being cancelled | Resultant number of options held | |
Brian O'Cathain | 0 | n / a | 2,950,000 | 2,950,000 | 0 |
William Holanda | 20,000,000 | 1.075 | 7,721,000 | 7,721,000 | 20,000,000 |
Alastair Estuardo | 15,000,000 | 1.075 | 0 | 0 | 15,000,000 |
Otros empleados | 15,000,000 | 1.075 | 11,800,000 | 2,520,000 | 24,280,000 |
Total | 50,000,000 | N/A | 22,471,000 | 13,191,000 | 59,280,000 |
The New EMI Options granted shall vest on the third anniversary of the Grant Date (the "Vesting Date"), expire ten years from the Grant Date, and are subject to a performance condition requiring the volume weighted average share price over the last 20 trading days prior to the Vesting Date to be greater than or equal to 1.25 times the volume weighted average share price over the last 20 trading days prior to the Grant Date.
Following the abovementioned option awards and cancellations, as of 19 January 2024, the Company has a total of 77,609,628 options and warrants outstanding over Ordinary Shares. Of these outstanding options and warrants, 17,064,154 are due to expire, or otherwise be cancelled, before the end of Q1 2024. Consequently, by end Q1 2024 the Company expects to have 60,545,474 options and warrants outstanding, representing 5.93% of the fully diluted share capital.
La Compañía considera que la información contenida en este anuncio constituye información privilegiada según lo estipulado en el Reglamento de Abuso de Mercado (UE) No. 596/2014, ya que forma parte de la legislación nacional del Reino Unido en virtud de la Ley de (Retirada) de la Unión Europea de 2018 , modificado en virtud del Reglamento de Abuso de Mercado (Enmienda) (Salida de la UE) de 2019.
Para más información, visite www.europaoil.com o contacte:
William Holland / Louise Armstrong | Europa Oil & Gas (Participaciones) plc | |
James Dance / James Spinney / Rob Patrick | Strand Hanson Limited - Asesor financiero y nominado | +44 0 20 7409 3494 |
pedro krens | Valores de Tennyson | +44 0 20 7186 9033 |
Patrick d'Ancona / Finlay Thomson / Kendall Hill | Consultoría Vigo | + 44 (0) 20 7390 0230 |
Notas a los editores
Europa Oil & Gas (Holdings) plc has a diversified portfolio of multi-stage hydrocarbon assets which includes production, development and exploration interests, in countries that are politically stable, have transparent licensing processes, and offer attractive terms. Average net production for the financial year ending 31 July 2023 was 265 bopd. On 21 December 2023 the Company acquired 42.9% interest in Antler Global, which holds an 80% interest in the EG08 PSC offshore Equatorial Guinea. EG08 contains an estimated gross mean un-risked 1.4 trillion cubic feet ("TCF") gas prospective resources that can be tested with a single well with a 92% chance of success. EG08 is adjacent to the Chevron licence that contains the Alen gas field which is connected via pipeline to the Bioko Island LNG plant. Europa took over operatorship of PEDL343 ("Cloughton") on 27 July 2023 in which Europa holds a 40% interest and contains an estimated 192 billion cubic feet "BCF") of gas in place. Europa holds a 25% interest in P.2358, Block 13/23c ("Serenity") in the Outer Moray Firth area of the North Sea, which the 2019 Serenity oil discovery. The Company holds one exploration licence offshore Ireland, which has two principal prospects, the largest of which has the potential to host gross mean un-risked prospective resources of 1.5 TCF gas. Inishkea West is a near field gas prospect in the Slyne Basin which the Company classifies as lower risk due to its close proximity to the producing Corrib gas field and associated gas processing infrastructure.
Notificación y divulgación pública de transacciones por parte de personas con responsabilidades de gestión y personas estrechamente relacionadas con ellas.
1
| Detalles de la persona que cumple con las responsabilidades de gestión | ||||||||||
a) | Nombre | i) William Holland ii) Alastair Stuart | |||||||||
2 | Razón de la notificación | ||||||||||
a) | Posición / estado | i) Chief Executive Officer ii) Chief Operating Officer | |||||||||
b) | Notificación inicial / Enmienda | Notificación inicial | |||||||||
3 | Datos del emisor, participante en el mercado de derechos de emisión, plataforma de subastas, subastador o supervisor de subastas | ||||||||||
a) | Nombre | EUROPA OIL & GAS (HOLDINGS) PLC
| |||||||||
b)
| LEY | 213800JWTCW7TN3WRC06 | |||||||||
4
| Detalles de la (s) transacción (es): sección que se repetirá para (i) cada tipo de instrumento; (ii) cada tipo de transacción; (iii) cada fecha; y (iv) cada lugar donde se han realizado transacciones | ||||||||||
a)
| Descripción del instrumento financiero, tipo de instrumento
Código de identificación
| Acciones ordinarias de 1 peniques cada una
GB00B03CJS30 | |||||||||
b)
| Naturaleza de la transacción
| Grant of Options under EMI scheme | |||||||||
c)
| Precio (s) y volumen (es)
|
| |||||||||
d)
| Información agregada
- Volumen agregado
- Precio
|
- 35,000,000
- N/A
| |||||||||
e)
| Fecha de la transacción
| 17/01/2024 | |||||||||
f)
| Lugar de la transacción
| Fuera de un centro de negociación
|
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