TIDMAET

RNS Number : 5455V

Afentra PLC

10 August 2022

10 August 2022

AFENTRA PLC

DIRECTOR / PDMR DEALINGS

The following amendment has been made to the 'Director/PDMR Dealings' announcement released on 10 August 2022 at 7.10 a.m. under RNS No 5307V. The description of the volumes in section 4(c) of each of the Director's notifications below has been amended to reflect the terms of the Founders Share Plan more accurately. All other details remain unchanged. The full amended text is shown below.

Afentra plc ('Afentra' or the 'Company') announces that on 5 August 2022 the Company made conditional awards under the Founders Share Plan (the "Founders Plan"), the principal terms of which were previously set out in the Company's report and accounts, to the executive directors of the Company as set out below:

 
 Director / PDMR      Position                   Percentage entitlement 
                                                  of conditional award 
 Paul McDade          Chief Executive Officer    41.5% 
 Anastasia Deulina    Chief Financial Officer    27.5% 
 Ian Cloke            Chief Operating Officer    31.0% 
 

The conditional awards comprise a conditional right to be granted a nil cost option over Ordinary Shares of the Company on the basis set out in paragraph 6.1.3 of Part 7 of the Company's admission document published on the date hereof. The conditional awards are subject to the completion of the acquisition by the Company's subsidiary, Afentra (Angola) Ltd of a 20% interest in Block 3/05 , offshore Angola from Sonangol P&P pursuant to a sale and purchase agreement dated 20 April 2022.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a.   Name                                 Paul McDade 
     -----------------------------------  ------------------------------ 
 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                                 Afentra plc 
     -----------------------------------  ------------------------------ 
 b.   LEI                                  21380028BFDFJK8BRX92 
     -----------------------------------  ------------------------------ 
 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         Ordinary shares of GBP0.10 
       instrument, type                     per share par value 
       of instrument                        GB00B4X3Q493 
       Identification code 
     -----------------------------------  ------------------------------ 
 b.   Nature of the transaction            Conditional award of right 
                                            to be granted nil cost 
                                            options 
     -----------------------------------  ------------------------------ 
 c.   Price(s) and volume(s)                Price(s)   Volume(s) 
                                             n/a        Such number 
                                                         of shares 
                                                         as equals 
                                                         41.5% of 
                                                         15% of 
                                                         the value 
                                                         created 
                                                         above a 
                                                         starting 
                                                         share price 
                                                         of GBP0.15 
                                                         if a hurdle 
                                                         price of 
                                                         GBP0.30 
                                                         is met 
                                                         up to a 
                                                         maximum 
                                                         calculated 
                                                         by reference 
                                                         to the 
                                                         issued 
                                                         share capital 
                                                         at time 
                                                         of grant 
                                                       --------------- 
     -----------------------------------  ------------------------------ 
 d.        Aggregated information 
             *    Aggregated volume          As above 
 
 
             *    Price 
     -----------------------------------  ------------------------------ 
 e.   Date of the transaction              5 August 2022 
     -----------------------------------  ------------------------------ 
 f.   Place of the transaction             Off exchange 
     -----------------------------------  ------------------------------ 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a.   Name                                 Anastasia Deulina 
     -----------------------------------  ------------------------------ 
 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                                 Afentra plc 
     -----------------------------------  ------------------------------ 
 b.   LEI                                  21380028BFDFJK8BRX92 
     -----------------------------------  ------------------------------ 
 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         Ordinary shares of GBP0.10 
       instrument, type                     per share par value 
       of instrument                        GB00B4X3Q493 
       Identification code 
     -----------------------------------  ------------------------------ 
 b.   Nature of the transaction            Conditional award of right 
                                            to be granted nil cost 
                                            ptions 
     -----------------------------------  ------------------------------ 
 c.   Price(s) and volume(s)                Price(s)   Volume(s) 
                                             n/a        Such number 
                                                         of shares 
                                                         as equals 
                                                         27.5% of 
                                                         15% of 
                                                         the value 
                                                         created 
                                                         above a 
                                                         starting 
                                                         share price 
                                                         of GBP0.15 
                                                         if a hurdle 
                                                         price of 
                                                         GBP0.30 
                                                         is met 
                                                         up to a 
                                                         maximum 
                                                         calculated 
                                                         by reference 
                                                         to the 
                                                         issued 
                                                         share capital 
                                                         at time 
                                                         of grant 
                                                       --------------- 
     -----------------------------------  ------------------------------ 
 d.        Aggregated information 
             *    Aggregated volume          As above 
 
 
             *    Price 
     -----------------------------------  ------------------------------ 
 e.   Date of the transaction              5 August 2022 
     -----------------------------------  ------------------------------ 
 f.   Place of the transaction             Off exchange 
     -----------------------------------  ------------------------------ 
 
 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a.   Name                                 Ian Cloke 
     -----------------------------------  ------------------------------ 
 2.   Reason for the notification 
     ------------------------------------------------------------------- 
 a.   Position/status                      Chief Operating Officer 
     -----------------------------------  ------------------------------ 
 b.   Initial notification/Amendment       Initial Notification 
     -----------------------------------  ------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a.   Name                                 Afentra plc 
     -----------------------------------  ------------------------------ 
 b.   LEI                                  21380028BFDFJK8BRX92 
     -----------------------------------  ------------------------------ 
 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         Ordinary shares of GBP0.10 
       instrument, type                     per share par value 
       of instrument                        GB00B4X3Q493 
       Identification code 
     -----------------------------------  ------------------------------ 
 b.   Nature of the transaction            Conditional award of right 
                                            to be granted nil cost 
                                            options 
     -----------------------------------  ------------------------------ 
 c.   Price(s) and volume(s)                Price(s)   Volume(s) 
                                             n/a        Such number 
                                                         of shares 
                                                         as equals 
                                                         31.0% of 
                                                         15% of 
                                                         the value 
                                                         created 
                                                         above a 
                                                         starting 
                                                         share price 
                                                         of GBP0.15 
                                                         if a hurdle 
                                                         price of 
                                                         GBP0.30 
                                                         is met 
                                                         up to a 
                                                         maximum 
                                                         calculated 
                                                         by reference 
                                                         to the 
                                                         issued 
                                                         share capital 
                                                         at time 
                                                         of grant 
                                                       --------------- 
     -----------------------------------  ------------------------------ 
 d.        Aggregated information 
             *    Aggregated volume          As above 
 
 
             *    Price 
     -----------------------------------  ------------------------------ 
 e.   Date of the transaction              5 August 2022 
     -----------------------------------  ------------------------------ 
 f.   Place of the transaction             Off exchange 
     -----------------------------------  ------------------------------ 
 

For further information, contact

 
 Afentra plc 
  +44 (0)20 7405 4133 
  Paul McDade, CEO 
  Anastasia Deulina, CFO 
 
   Buchanan (Financial PR) 
   +44 (0)20 7466 5000 
   Ben Romney 
   Jon Krinks 
 
 Peel Hunt LLP (Nominated Advisor and Joint Broker) 
  +44 (0)20 7418 8900 
  Richard Crichton 
  Paul Gillam 
  David McKeown 
 
 Tennyson Securities (Joint Broker) 
  +44 (0)20 7186 9033 
  Peter Krens 
 
  About Afentra 
  Afentra plc (AIM:AET) is an upstream oil and gas company focused 
  on opportunities in Africa. The Company's purpose is to support 
  a responsible energy transition in Africa by establishing 
  itself as a credible partner for divesting IOCs and Host Governments. 
  Afentra has a current carried interest in the Odewayne Block 
  onshore southwestern Somaliland. 
 

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END

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