Pharos
Energy plc
("Pharos"
or the "Company" or, together with its subsidiaries, the
"Group")
DIRECTORS/PDMR
SHAREHOLDINGS
Increase in Director
Shareholding
The Company announces that on 23
October 2024, Sue Rivett, its Chief Financial Officer increased her
shareholding pursuant to the vesting and exercise of awards
("Awards") under the Company's Long-Term Incentive Plan ("LTIP")
over ordinary shares of £0.05 each in the Company
("Shares").
The LTIP Awards vested and exercised
are set out in the table below. The Awards were originally granted
in 2021 to vest and become exercisable after three years at nil
price, subject to the satisfaction of performance
conditions.
|
Director
|
Grant Date
|
Awards
Vested/exercised
|
Shares sold to settle tax
liabilities and associated costs arising on
exercise
|
Aggregate Price
achieved
|
Shares Acquired and
held
|
Total number of Shares held
following transactions
|
% of Company's Issued Share
Capital (excluding treasury shares)
|
|
Sue
Rivett
|
6 October
2021
|
997,150
|
479,596
|
£0.225189
|
517,554
|
905,843
|
0.218%
|
For further
information, please contact:
Pharos Energy plc
Tel: 0207 603 1515
Tony Hunter, Company
Secretary
Notes to editors
Pharos Energy plc is an independent
oil and gas exploration and production company with a focus on
sustainable growth and returns to stakeholders, which is listed on
the London Stock Exchange. Pharos has production, development
and/or exploration interests in Egypt and Vietnam. In Egypt, Pharos
holds a 45% working interest share in the El Fayum Concession in
the Western Desert, with IPR Lake Qarun, part of the international
integrated energy business IPR Energy Group, holding the remaining
55% working interest. The El Fayum Concession produces oil from 10
fields and is located 80 km southwest of Cairo. It is operated by
Petrosilah, a 50/50 joint stock company between the contractor
parties (being IPR Lake Qarun and Pharos) and the Egyptian General
Petroleum Corporation (EGPC). Pharos also holds a 45% working
interest share in the North Beni Suef (NBS) Concession in Egypt,
which is located immediately south of the El Fayum Concession. The
first development lease on the NBS Concession was awarded in
September 2023 and production started in December 2023. IPR
Lake Qarun operates and holds the remaining 55% working interest in
the NBS Concession. In Vietnam, Pharos has a 30.5% working interest
in Block 16-1 which contains 97% of the Te Giac Trang (TGT) field
and is operated by the Hoang Long Joint Operating Company. Pharos'
unitised interest in the TGT field is 29.7%. Pharos also has a 25%
working interest in the Ca Ngu Vang (CNV) field located in Block
9-2, which is operated by the Hoan Vu Joint Operating Company.
Blocks 16-1 and 9-2 are located in the shallow water Cuu Long
Basin, offshore southern Vietnam. Pharos also holds a 70% interest
in, and is designated operator of, Blocks 125 & 126, located in
the moderate to deep water Phu Khanh Basin, north east of the Cuu
Long Basin, offshore central Vietnam.
|
1
|
Details of the person discharging managerial
responsibilities
|
|
a)
|
Name
|
SUE RIVETT
|
|
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
|
PHAROS ENERGY PLC
|
|
b)
|
LEI
|
549300DDKLXYLLO4N524
|
|
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
instrument, type of instrument
Identification code
|
ORDINARY SHARES OF £0.05 EACH
("SHARES")
GB00B572ZV91
|
|
b)
|
Nature of the transaction
|
1. Exercise of nil-price
share awards under the Company's Long-Term Incentive
Plan.
2. Sale of a proportion
of the resulting shares to cover tax liabilities and associated
costs arising on exercise.
.
|
|
c)
|
Price(s) and volume(s)
|
|
Exercise
|
|
Price(s)
£0.00
|
Volume(s)
997,150
|
|
Sale
of proportion of resulting shares
|
|
Price(s)
£0.225189
|
Volume(s)
479,596
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Transaction type
|
Aggregated Volume(s)
|
Price(s)
|
|
Exercise of share awards
|
997,150
|
£0.00
|
|
Sale of a proportion of resulting shares
|
479,596
|
£107,999.74
|
|
e)
|
Date of the transaction
|
23/10/2024
|
|
f)
|
Place of the transaction
|
X-LON
|
