TIDMJOG
RNS Number : 8328W
Jersey Oil and Gas PLC
20 April 2023
20 April 2023
Jersey Oil and Gas plc
("Jersey Oil & Gas" or the "Company")
Grant of Share Options
Jersey Oil & Gas (AIM: JOG), an independent upstream oil and
gas company focused on the UK Continental Shelf ("UKCS") region of
the North Sea, announces that it has granted options over, in
aggregate, 600,000 ordinary shares of 1p each in the capital of the
Company ("Ordinary Shares") to its directors, senior management and
employees at an exercise price of 247.50 pence per Ordinary Share
(the "Options"), being the middle market closing price on 19 April
2023, the latest practicable date prior to this announcement.
Accordingly, a total of 4,134,002 option awards are outstanding
following these latest grants, which represents approximately 12.7
per cent. of the Company's existing issued share capital of
32,554,293 Ordinary Shares.
Executive Directors
The following new Options have been granted to Company's
Executive Directors/Officers:
Name Position Number of New Exercise Price Per Exercise Period Total Options Held
Options Granted Ordinary Share Following This
(pence) Grant
Chief Executive
Andrew Benitz Officer 150,000 247.50 7 years 800,000
-------------------- ------------------- ------------------- ---------------- -------------------
Chief Financial
Graham Forbes Officer 100,000 247.50 7 years 600,000
-------------------- ------------------- ------------------- ---------------- -------------------
Chief Commercial
Richard Smith Officer 100,000 247.50 7 years 600,000
-------------------- ------------------- ------------------- ---------------- -------------------
The new Options set out in the table above all vest in three
equal tranches (one, two and three years from the date of grant)
and are subject to the satisfaction of certain performance
conditions to be determined and interpreted at the discretion of
the Company's Remuneration Committee. Subject to vesting and such
performance conditions being met, the new Options are exercisable
for up to seven years from their date of grant and will lapse if
not exercised by such date.
Non-Executive Directors
The following new Options have been granted to Non-Executive
Directors of the Company:
Name Position Number of New Exercise Price Per Exercise Period Total Options Held
Options Granted Ordinary Share Following This
(pence) Grant
Non-Executive
Les Thomas Chairman 45,000 247.50 5 years 120,000
------------------- ------------------- ------------------- ---------------- -------------------
Senior Independent
Non-Executive
Frank Moxon Director 20,000 247.50 5 years 100,000
------------------- ------------------- ------------------- ---------------- -------------------
Non-Executive
Marcus Stanton Director 20,000 247.50 5 years 130,000
------------------- ------------------- ------------------- ---------------- -------------------
The new Options set out in the table above all vest in three
equal tranches (one, two and three years from the date of grant)
and have no performance conditions. Subject to vesting, the new
Options are exercisable for up to five years from their date of
grant and will lapse if not exercised by such date.
Senior Management and Employees
A further 165,000 new Options, in aggregate, have been granted
to certain other members of senior management and employees at the
same exercise price of 247.50 pence per Ordinary Share. These
options vest in the same manner as those awarded to the Executive
Directors/Officers of the Company.
Enquiries :
Jersey Oil and Gas Andrew Benitz, CEO C/o Camarco:
plc Tel: 020 3757 4980
Strand Hanson Limited James Harris Tel: 020 7409 3494
Matthew Chandler
James Bellman
Zeus Capital Limited Simon Johnson Tel: 020 3829 5000
finnCap Ltd Christopher Raggett Tel: 020 7220 0500
Tim Redfern
Camarco Billy Clegg Tel: 020 3757 4980
Rebecca Waterworth
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as it forms
part of United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019.
PDMR Notification Forms :
The notifications below are made in accordance with the
requirements of MAR.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Benitz
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Chief Executive Officer (Director)
-------------------------------- --------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- --------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- --------------------------------------
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 Options over ordinary shares of 1
instrument, type of instrument penny each in the Company
-------------------------------- --------------------------------------
Identification code GB00BYN5YK77
-------------------------------- --------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 penny each in the Company
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 150,000
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 19 April 2023
-------------------------------- --------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Les Thomas
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Chairman
-------------------------------- --------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- --------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- --------------------------------------
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 Options over ordinary shares of 1
instrument, type of instrument penny each in the Company
-------------------------------- --------------------------------------
Identification code GB00BYN5YK77
-------------------------------- --------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 penny each in the Company
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 45,000
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 19 April 2023
-------------------------------- --------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Marcus Stanton
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------------- --------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- --------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- --------------------------------------
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 Options over ordinary shares of 1
instrument, type of instrument penny each in the Company
-------------------------------- --------------------------------------
Identification code GB00BYN5YK77
-------------------------------- --------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 penny each in the Company
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 20,000
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 19 April 2023
-------------------------------- --------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Frank Moxon
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------------- --------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- --------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- --------------------------------------
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 Options over ordinary shares of 1
instrument, type of instrument penny each in the Company
-------------------------------- --------------------------------------
Identification code GB00BYN5YK77
-------------------------------- --------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 penny each in the Company
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 20,000
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 19 April 2023
-------------------------------- --------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Graham Forbes
-------------------------------- ----------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position/status Chief Financial Officer (Director)
-------------------------------- ----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- ----------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- ----------------------------------------
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 Options over ordinary shares of 1 penny
instrument, type of instrument each in the Company
-------------------------------- ----------------------------------------
Identification code GB00BYN5YK77
-------------------------------- ----------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 penny each in the Company
-------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 100,000
-------------------------------- ----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- ----------------------------------------
e) Date of the transaction 19 April 2023
-------------------------------- ----------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- ----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Smith
-------------------------------- ----------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position/status Chief Commercial Officer
-------------------------------- ----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- ----------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- ----------------------------------------
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 Options over ordinary shares of 1 penny
instrument, type of instrument each in the Company
-------------------------------- ----------------------------------------
Identification code GB00BYN5YK77
-------------------------------- ----------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 penny each in the Company
-------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
247.50p 100,000
-------------------------------- ----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- ----------------------------------------
e) Date of the transaction 19 April 2023
-------------------------------- ----------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------------- ----------------------------------------
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END
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