15 July 2024
AFENTRA PLC
Grant of Non-Executive
Director Share Options, and
Executive Director - Long
Term Incentives Plan (LTIP) Award
Afentra plc ('Afentra' or the
'Company') (AIM: AET), the upstream oil and gas company focused on
acquiring production and development assets in Africa, has
conditionally granted, under the Executive Directors Long-Term
Incentive Scheme, new ordinary shares in the Company in the form of
nil-cost share options and has granted options over new ordinary
shares to its Non-Executive Directors at an exercise price of 57.40
pence per Ordinary Shares.
Both, the Executive Director Long
Term Incentive Scheme and Non-Executive Director Market Value
Options were approved by the shareholders at the Company's Annual
General Meeting on 27 June 2024.
Grant of Non-Executive Director Share
Options
The Non-Executive Director Market
Value Options are a one-off award of market value share options
which will vest in a single tranche three years from grant. Once
vested, the Options will normally remain exercisable until the 10th
anniversary of the grant.
|
Name
|
Position
|
Number of Options
Granted
|
|
Jeffrey MacDonald
|
Independent non-executive
Chairman
|
1,500,000
|
|
Thierry Tanoh
|
Independent non-executive
Director
|
1,500,000
|
|
Gavin Wilson
|
Independent non-executive
Director
|
1,500,000
|
Executive Director Long Term Incentives
Award
Following a review of Executive
Director long-term incentive provision to ensure individuals are
appropriately incentivised over the next three years to 2027 and
thereafter the Remuneration Committee has concluded that a
conventional LTIP should be operated for Executive Directors going
forward. Vesting of the Awards is determined by the Company's Total
Shareholder Return ('TSR').
The following Directors of the Company
have been granted conditional share awards under the Company's
LTIP:
|
Name of
PDMR
|
Title
|
Maximum number of Ordinary
Shares (Total Award)
|
|
Paul
McDade
|
Chief
Executive Officer
|
1,453,287
|
|
Ian
Cloke
|
Chief
Operating Officer
|
887,543
|
|
Anastasia Deulina
|
Chief
Financial Officer
|
887,543
|
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
Barry Archer
George Pope
Peel Hunt LLP (Nominated Advisor and Joint Broker) +44 (0)20
7418 8900
Richard Crichton
David McKeown
Emily Bhasin
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. Offshore Angola Afentra has a 30%
non-operated interest in the producing Block 3/05 and a 21.33%
non-operated interest in the adjacent development Block 3/05A in
the Lower Congo Basin and a 40% non-operating interest in the
exploration Block 23 in the Kwanza Basin. Afentra has a 34% carried
interest in the Odewayne Block onshore southwestern
Somaliland.
Inside Information
This announcement contains inside
information for the purposes of article 7 of Regulation 2014/596/EU
(which forms part of domestic UK law pursuant to the European Union
(Withdrawal) Act 2018) ('UK MAR'). Upon publication of this
announcement, this inside information (as defined in UK MAR) is now
considered to be in the public domain. For the purposes of UK MAR,
the person responsible for arranging for the release of this
announcement on behalf of Afentra is Paul McDade, Chief Executive
Officer.