Option Awards
Updated : 00:00
11 November 2022
Ascent Resources plc
("Ascent" or the "Company")
Option Awards
Ascent Resources Plc (LON: AST), the onshore Hispanic American and European focussed energy and natural resources company, announces an award of options.
The Company announces the grant of an aggregate of 4,600,000 options over Ordinary shares of the Company to certain employees. Of the total options awarded the Executive Chairman and the Chief Executive Officer were each awarded options over 1,500,000 Ordinary shares and the Non-Executive Directors were each awarded options over 500,000.
The five year options were granted on 11 November 2022 and have a three year vesting period and entitle each holder to exercise at a price of 5p. The performance vesting criteria for the options is the execution of a cash generating ESG Metals transaction consistent with the Company's strategy.
The Board has awarded the following options:
Award | Strike Price | Expiry Date | |
James Parsons | 1,500,000 | £0.05 | 10 November 2027 |
Andrew Dennan | 1,500,000 | £0.05 | 10 November 2027 |
Malcolm Graham Wood | 500,000 | £0.05 | 10 November 2027 |
Stephen Birrell | 500,000 | £0.05 | 10 November 2027 |
Following the grant of options, the resultant Directors' shareholdings are as follows:
Directors | Ordinary shares
| % of Issued Share Capital | Options | |
James Parsons | 500,900 | 0.369 | 2,885,894 | |
Andrew Dennan | 2,140,000 | 1.578 | 2,885,894 | |
Malcolm Graham Wood | 0 | 500,000 | ||
Stephen Birrell | 0 | 500,000 |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | 1. James Parsons 2. Andrew Dennan 3. Malcolm Graham-Wood 4. Stephen Birrell | |||
2 | Reason for the notification | ||||
a) | Position/status |
1. PDMR (Executive Chairman) 2. PDMR (Chief Executive Officer) 3. PDMR (Non-executive Director) 4. PDMR (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 | Ascent Resources plc |
| ||
b) | LEI | 213800Q8R5GV7DLNEL37 |
| ||
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 | Ordinary shares of £0.005 each |
| ||
Identification code | GB00BJVH7905 |
| |||
b) | Nature of the transaction | Award of options |
| ||
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| |
1. £0.05 2. £0.05 3. £0.05 4. £0.05 |
1. 1,500,000 2. 1,500,000 3. 500,000 4. 500,000 |
| |||
d) | Aggregated information | N/A |
| ||
Aggregated volume | N/A |
| |||
Price | £0.05 |
| |||
e) | Date of the transaction | 11 November 2022 |
| ||
f) | Place of the transaction | Outside of a trading venue |
| ||
Enquiries:
Ascent Resources plc Andrew Dennan | Via Vigo Communications
|
WH Ireland, Nominated Adviser & Broker James Joyce / Sarah Mather | 0207 220 1666 |
Novum Securities, Joint Broker Jon Belliss
| 0207 399 9400
|
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