TIDMJOG
RNS Number : 3205N
Jersey Oil and Gas PLC
17 January 2019
17 January 2019
Jersey Oil and Gas plc
("Jersey Oil & Gas" or the "Company")
Grant of Share Options
Jersey Oil & Gas (AIM: JOG), an independent upstream oil and
gas company focused on the UK Continental Shelf ("UKCS") region of
the North Sea, announces that it has today granted options over, in
aggregate, 300,000 ordinary shares of 1p each in the share capital
of the Company ("Ordinary Shares") to its directors, senior
management and employees at an exercise price of 175 pence per
Ordinary Share (the "Options"), being the middle market closing
price on 16 January 2019, the latest practicable date prior to this
announcement.
These Option awards were approved by the Remuneration Committee,
and by the Board in the case of the Option awards to Non-Executive
Directors, as part of the Company's annual pay review process. The
Options have been issued under the Jersey Oil and Gas plc 2016
Enterprise Management Incentive and Unapproved Share Option
Plan.
Executive Directors
The following new Options have been granted to Executive
Directors of the Company:
Name Position Number of Exercise Exercise Total Options
New Options Price Per Period Held Following
Granted Ordinary This Grant
Share (pence)
Chief Executive
Andrew Benitz Officer 70,000 175 7 years 430,000
----------------- ------------- --------------- --------- ----------------
Chief Operating
Ronald Lansdell Officer 70,000 175 7 years 430,000
----------------- ------------- --------------- --------- ----------------
Chief Financial
Vicary Gibbs Officer 40,000 175 7 years 190,000
----------------- ------------- --------------- --------- ----------------
The new Options set out in the table above for Executive
Directors all vest in three equal tranches (one, two and three
years from the date of grant) and are subject to the satisfaction
of certain performance conditions to be determined and interpreted
at the discretion of the Remuneration Committee. Subject to vesting
and such performance conditions being met, the new Options are
exercisable for up to seven years from their date of grant and will
lapse if not exercised by such date.
Non-Executive Directors
The following new Options have been granted to Non-Executive
Directors of the Company:
Name Position Number of Exercise Exercise Total Options
New Options Price Per Period Held Following
Granted Ordinary This Grant
Share (pence)
Marcus Stanton Non-Executive Chairman 20,000 175 5 years 101,570
------------------------ ------------- --------------- --------- ----------------
Frank Moxon Non-Executive Director 15,000 175 5 years 55,000
------------------------ ------------- --------------- --------- ----------------
The new Options set out in the table above for Non-Executive
Directors all vest in three equal tranches (one, two and three
years from the date of grant) and have no performance conditions.
Subject to vesting, the new Options are exercisable for up to five
years from their date of grant and will lapse if not exercised by
such date.
Senior Management and Employees
A further 85,000 new Options, in aggregate, have been granted to
certain other members of senior management and employees at the
same exercise price of 175 pence per Ordinary Share.
Enquiries:
Jersey Oil and Gas plc Andrew Benitz, CEO C/o Camarco:
Tel: 020 3757 4983
Strand Hanson Limited James Harris Tel: 020 7409 3494
Matthew Chandler
James Bellman
Arden Partners plc Paul Shackleton Tel: 020 7614 5900
Benjamin Cryer
BMO Capital Markets Jeremy Low Tel: 020 7236 1010
Limited Tom Rider
Camarco Billy Clegg Tel: 020 3757 4983
Georgia Edmonds
James Crothers
Notes to Editors:
Jersey Oil & Gas is a UK E&P company focused on building
an upstream oil and gas business in the North Sea. The Company owns
an 18% interest in the P2170 licence, Blocks 20/5b & 21/1d,
Outer Moray Firth, in which the operator, Equinor UK Limited, owns
a 70% interest and CIECO V&C (UK) Limited owns a 12% interest.
This licence contains the Verbier oil discovery, with initial
operator estimates of gross recoverable resources of between 25 and
130 million barrels of oil equivalent ("mmboe") with an estimated
mean of 69mmboe.
The Company plans to build an upstream E&P portfolio via
both organic development and acquisitions coinciding with the
cyclical recovery in the oil price and the opportune buying market
in the North Sea. The Company is involved in multiple acquisition
opportunities and intends to draw on its management team's
considerable experience, knowledge and expertise to deliver
shareholder value from its stated growth strategy.
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 ("MAR").
PDMR Notification Forms:
The notifications below are made in accordance with the
requirements of MAR.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Benitz
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Chief Executive Officer (Director)
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- -----------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- -----------------------------------------
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 Options over ordinary shares of 1 pence
instrument, type of instrument each in the Company
-------------------------------- -----------------------------------------
Identification code GB00BYN5YK77
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 pence each in the Company
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
175p 70,000
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 17 January 2019
-------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Ronald Lansdell
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Chief Operating Officer (Director)
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- -----------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- -----------------------------------------
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 Options over ordinary shares of 1 pence
instrument, type of instrument each in the Company
-------------------------------- -----------------------------------------
Identification code GB00BYN5YK77
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 pence each in the Company
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
175p 70,000
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 17 January 2019
-------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Vicary Gibbs
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Chief Financial Officer (Director)
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- -----------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- -----------------------------------------
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 Options over ordinary shares of 1 pence
instrument, type of instrument each in the Company
-------------------------------- -----------------------------------------
Identification code GB00BYN5YK77
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 pence each in the Company
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
175p 40,000
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 17 January 2019
-------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Marcus Stanton
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Non-Executive Chairman (Director)
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- -----------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- -----------------------------------------
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 Options over ordinary shares of 1 pence
instrument, type of instrument each in the Company
-------------------------------- -----------------------------------------
Identification code GB00BYN5YK77
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 pence each in the Company
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
175p 20,000
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 17 January 2019
-------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Frank Moxon
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Non-Executive Director (Director)
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Jersey Oil & Gas plc
-------------------------------- -----------------------------------------
b) LEI 213800RIR1SZC1734G32
-------------------------------- -----------------------------------------
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 Options over ordinary shares of 1 pence
instrument, type of instrument each in the Company
-------------------------------- -----------------------------------------
Identification code GB00BYN5YK77
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of Options over ordinary shares
of 1 pence each in the Company
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
175p 15,000
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 17 January 2019
-------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
-------------------------------- -----------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHCKADBBBKBPDD
(END) Dow Jones Newswires
January 17, 2019 02:00 ET (07:00 GMT)
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