TIDMANGS
RNS Number : 6654W
Angus Energy PLC
19 April 2023
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 AS IT FORMS PART OF
UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN .
1 9 April 2023
Angus Energy Plc
("Angus Energy", the "Company" or together with its
subsidiaries, the "Group")
(AIM:ANGS)
Finalisation of Management Changes and Issue of Options
Further to the announcement of 2 March 2023 and Angus's vision
of becoming a significant player in the aggregation, production and
storage of gas, the Company is pleased to finalise the appointment
of Richard Herbert as Chief Executive Director, George Lucan as
Executive Chairman and Patrick Clanwilliam as Non-Executive
Director.
The Company is also pleased to announce the appointment of Tim
Kaye as (non-board) Director of UK Operations. Tim has worked with
Angus since September 2022, leading the project to install and
commission the second gas compressor at Saltfleetby, which is now
operating. He brings extensive operations experience from the North
Sea, both with BP and Enquest.
Issue of Options
The Company has also agreed the grant of 103 million share
options, representing 2.87% of the Company's issued share capital,
under the Company's existing Employee Incentive Schemes (the
"Options") to Directors and other members of staff.
The share options to be granted were proposed by the
remuneration committee and approved by the Board as part of the
Company's annual share option grants; the most recent grant of
which was on 24 October 2022. The conditional share options are as
follows:
Richard Herbert* 70,000,000
Other employees 33,000,000
*Director of the Company
The share options have an exercise price of 1.8 pence per share
(being a premium of 7% to the closing price on 18 April 2023) (the
"Exercise Price") and vest as to 100 per cent., upon the closing
mid-market price of the Ordinary Shares being 3 pence or above
(being 66 per cent. above the Exercise Price). The options have a
10 year term from the date of issue. The total award to Directors
represents 1.95% of the Company's issued share capital.
Following the grant of the share options outlined above, the
total share options outstanding will be 345,100,892 representing
approximately 9.61% of the 3,590,393,701 ordinary shares in
issue.
END
For further information on the Company, please visit
www.angusenergy.co.uk or contact:
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
George Lucan Tel: +44 (0) 208 899 6380
Beaumont Cornish Limited (Nomad) www.beaumontcornish.com
James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Limited (Broker)
Katy Mitchell / Harry Ansell Tel: +44 (0) 207 220 1666
Flagstaff PR/IR angus@flagstaffcomms.com
Tim Thompson / Fergus Mellon Tel: +44 (0) 207 129 1474
Aleph Commodities info@alephcommodities.com
Disclaimers - this Announcement includes statements that are, or
may be deemed to be, "forward- looking statements". These
forward-looking statements can be identified by the use of forward-
looking terminology, including the terms "believes", "estimates",
"forecasts", "plans", "prepares",
"anticipates", "projects", "expects", "intends", "may", "will",
"seeks", "should" or, in each case, their negative or other
variations or comparable terminology, or by discussions of
strategy, plans, objectives, goals, future events or intentions.
These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the
Directors' intentions, beliefs or current expectations concerning,
amongst other things, the Company's prospects, growth and strategy.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance. The Company's actual performance, achievements and
financial condition may differ materially from those expressed or
implied by the forward-looking statements in this Announcement. In
addition, even if the Company's results of operations, performance,
achievements and financial condition are consistent with the
forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in
subsequent periods. Any forward-looking statements that the Company
makes in this Announcement speak only as of the date of such
statement and (other than in accordance with their legal or
regulatory obligations) neither the Company, nor the Bookrunner nor
Beaumont Cornish nor any of their respective associates, directors,
officers or advisers shall be obliged to update such statements.
Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future
performance, unless expressed as such, and should only be viewed as
historical data.
Beaumont Cornish Limited, which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is acting as
nominated adviser to the Company in relation to the matters
referred herein. Beaumont Cornish Limited is acting exclusively for
the Company and for no one else in relation to the matters
described in this announcement and is not advising any other person
and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of
Beaumont Cornish Limited, or for providing advice in relation to
the contents of this announcement or any matter referred to in
it.
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END
MSCBCGDSUSBDGXI
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April 19, 2023 02:00 ET (06:00 GMT)
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