Southern Energy Corp. Stock Option Grant
17 July 2024 - 4:00PM
RNS Regulatory News
RNS Number : 6744W
Southern Energy Corp.
17 July 2024
SOUTHERN ENERGY CORP.
ANNOUNCES STOCK OPTION GRANT
Calgary, Alberta - July 17, 2024 - Southern Energy
Corp. ("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC)
(OTCQX:SOUTF) announces that pursuant to the Company's Stock Option
Plan, an aggregate of 3,102,500 stock options ("Options") to purchase common shares of
the Company ("Common
Shares") were granted as part of Southern's overall
compensation and employee retention program.
The Options expire in five years
from the date of the grant and are exercisable at a price of
CAD$0.175 per Common Share,
being the closing market price on the TSXV on the day prior to this
announcement. The Options vest as to one third on the grant date
and one third on each of the first and second anniversaries of the
grant date.
In aggregate, 1,642,000 of the
Options were issued to directors and persons discharging managerial
responsibilities ("PDMR")
of the Company, as set out below:
|
PDMR
|
Position
|
Options
Awarded
|
|
Ian Atkinson
|
President and CEO
(Director)
|
417,000
|
|
Calvin Yau
|
CFO
|
350,000
|
|
Gary McMurren
|
COO
|
350,000
|
|
Bruce Beynon
|
Non-Executive Director
|
105,000
|
|
Tamara MacDonald
|
Non-Executive Director
|
105,000
|
|
Joseph Nally
|
Non-Executive Director
|
105,000
|
|
Neil Smith
|
Non-Executive Director
|
105,000
|
|
Steven Smith
|
Non-Executive Director
|
105,000
|
For
further information about Southern, please visit our website
at
www.southernenergycorp.com or
contact:
|
Southern Energy Corp.
|
|
|
Ian Atkinson (President and
CEO)
|
+1 587 287 5401
|
|
Calvin Yau (CFO)
|
+1 587 287 5402
|
|
|
|
|
Strand Hanson Limited - Nominated & Financial
Adviser
|
+44 (0) 20 7409 3494
|
|
James Spinney / James
Bellman / Rob Patrick
|
|
|
|
|
|
Stifel Nicolaus Europe Limited - Joint
Broker
|
+44 (0) 20 7710 7600
|
|
Callum Stewart / Ashton
Clanfield
|
|
|
|
|
|
Tennyson Securities - Joint Broker
|
+44 (0) 20 7186 9033
|
|
Peter Krens / Pav
Sanghera
|
|
|
|
|
|
Camarco
|
+44 (0) 20 3757 4980
|
|
Owen Roberts / Billy Clegg /
Hugo Liddy
|
|
About Southern Energy Corp.
Southern Energy Corp. is a natural
gas exploration and production company characterized by a stable,
low-decline production base, a significant low-risk drilling
inventory and strategic access to premium commodity pricing in
North America. Southern has a primary focus on acquiring and
developing conventional natural gas and light oil resources in the
southeast Gulf States of Mississippi, Louisiana, and East Texas.
Our management team has a long and successful history working
together and have created significant shareholder value through
accretive acquisitions, optimization of existing oil and natural
gas fields and the utilization of re-development strategies
utilizing horizontal drilling and multi-staged fracture completion
techniques.
Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
PDMR NOTIFICATION FORMS
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1. Ian
Atkinson
2. Calvin
Yau
3. Gary
McMurren
4. Bruce
Beynon
5. Tamara
MacDonald
6. Joseph
Nally
7. Neil
Smith
8. Steven
Smith
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1. President and
CEO (Director)
2. CFO
3. COO
4. Non-Executive
Director
5. Non-Executive
Director
6. Non-Executive
Director
7. Non-Executive
Director
8. Non-Executive
Director
|
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Southern Energy Corp.
|
|
b)
|
LEI
|
213800R25GL7J3EBJ698
|
|
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
|
Options to acquire common shares in
Southern Energy Corp.
|
|
|
|
|
Identification code
|
CA8428131059
|
|
b)
|
Nature of the transaction
|
Grant of share options
|
|
c)
|
Price(s) and volume(s)
|
|
|
Exercisable price
|
Volumes
|
|
1.
|
CAD$0.175
|
417,000
|
|
2.
|
CAD$0.175
|
350,000
|
|
3.
|
CAD$0.175
|
350,000
|
|
4.
|
CAD$0.175
|
105,000
|
|
5.
|
CAD$0.175
|
105,000
|
|
6.
|
CAD$0.175
|
105,000
|
|
7.
|
CAD$0.175
|
105,000
|
|
8.
|
CAD$0.175
|
105,000
|
|
|
d)
|
Aggregated information
|
N/A
|
|
e)
|
Date of the transaction
|
17 July 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading venue
|
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