BCE Beacon Energy Plc

TIDMBCE

RNS Number : 8830Q

Beacon Energy PLC

23 October 2023

23 October 2023

Beacon Energy plc

("Beacon Energy" or the "Company")

Award of Share Options

Director / PDMR Shareholding

Beacon Energy plc (AIM:BCE), the full-cycle oil and gas company with a portfolio of onshore German assets, announces that it has granted options over, in aggregate, 503,565,644 ordinary shares of nil pence each in the capital of the Company ("Ordinary Shares") to its directors and employees (the "Options"). The Options are exercisable at a price of 0.15 pence per Ordinary Share, being the Issue Price at the Company's recent Fundraise as announced on 15 September 2023.

In addition, the Company has reached agreement with certain Directors to cancel 33,360,000 "out of the money" options for no consideration.

Issue of Options to Directors

The following Options have been granted to Company's Directors:

 
Name                Position                  Number of     Exercise        Total Options 
                                               New Options   Price Per       Held Following 
                                               Granted       Ordinary        This Grant 
                                                             Share (pence) 
Mark Rollins        Chairman                   37,566,588        0.15           155,335,064 
Larry Bottomley     Chief Executive Officer   100,177,569        0.15           492,829,705 
Stewart MacDonald   Chief Financial Officer    91,661,457        0.15           269,622,711 
Stephen Whyte       Non-Executive Director     18,783,294        0.15             74,863,520 
Ross Warner         Non-Executive Director     18,783,294        0.15             74,863,520 
 

The Options set out in the table above vest in two equal tranches, being six months and one year from the date of grant, and are exercisable for up to five years from their date of grant.

Issue of Options to Senior Management and Employees

A further 236,593,442 Options have been granted to certain other members of senior management and employees at the same exercise price of 0.15 pence per Ordinary Share, on the same terms as those set out above.

Related Party Transaction

The Option awards to directors represent a related party transaction under the AIM Rules for Companies. The director who is independent of the transaction, being Leo Koot, having consulted with the Company's nominated adviser, Strand Hanson, considers that the terms of the Option award are fair and reasonable insofar as shareholders are concerned.

Enquiries:

 
Beacon Energy plc 
 Larry Bottomley (CEO) / Stewart MacDonald (CFO)          +44 (0)20 7466 5000 
 
Strand Hanson Limited (Financial and Nominated Adviser) 
 Rory Murphy / James Bellman                              +44 (0)20 7409 3494 
 
Buchanan (Public Relations) 
 Ben Romney / Barry Archer / George Pope                  +44 (0)20 7466 5000 
 
Tennyson Securities Limited (Broker) 
 Peter Krens / Ed Haig-Thomas                             +44 (0)20 7186 9030 
 

PDMR Disclosure Form

 
1.  Details of the person discharging managerial responsibilities 
     / person closely associated 
a.  Names                             1. Mark Rollins 
                                       2. Larry Bottomley 
                                       3. Stewart MacDonald 
                                       4. Stephen Whyte 
                                       5. Ross Warner 
2.  Reason for the notification 
a.  Position/status                   6. Chairman 
                                       7. CEO 
                                       8. CFO 
                                       9. NED 
                                       10. NED 
b.  Initial notification/Amendment    Initial Notification 
3.  Details of the issuer, emission allowance market participant, 
     auction platform, auctioneer or auction monitor 
a.  Name                              Beacon Energy plc 
b.  LEI                               213800TZWOYU7UFZ5V63 
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 no par 
     instrument, type of instrument    value 
     Identification code               M00BKSCP798 
b.  Nature of the transaction         Option Awards 
c.  Price(s) and volume(s)             Price/share        Volume (s) 
                                        No consideration   37,566,588 
                                        No consideration   100,177,569 
                                        No consideration   91,661,457 
                                        No consideration   18,783,294 
                                        No consideration   18,783,294 
d.  Aggregated information 
     - Aggregated volume                N/A 
     - Price 
e.  Date of the transactions          23 October 2023 
f.  Place of the transactions         AIM, London Stock Exchange 
 

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END

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October 23, 2023 02:04 ET (06:04 GMT)

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