Increase in Director/PDMR Shareholdings
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The Company announces that, on 10 May 2024, its Executive Director and Persons Discharging Managerial Responsibility ("PDMRs") increased their shareholdings pursuant to the vesting of nil-cost share awards ("Awards") under the Company's Deferred Share Bonus Plan 2014 ("DSBP") over ordinary shares of £0.05 each in the Company ("Shares"), as set out in the table below.
The Awards were originally granted in 2022 to vest and become exercisable after two years at nil cost in respect of a proportion of the performance related annual bonus earned in the 2021 financial year.
| Director/ PDMR | Position | Grant Date | Awards exercised * | Shares sold to settle tax liabilities and associated costs arising on exercise | Average Price achieved | Shares Acquired and held | Total number of Shares held following transactions | % of Company's Issued Share Capital (excluding treasury shares) |
|---|---|---|---|---|---|---|---|---|
| Sue Rivett | Chief Financial Officer | 25 March 2024 | 145,431 | 68,491 | £0.226207 | 76,940 | 368,981 | 0.088% |
| Jann Brown | Chief Executive Officer (PDMR) | 25 March 2024 | 598,510 | 281,867 | £0.226207 | 316,643 | 2,622,077 | 0.624% |
*Includes accrued dividends
The shares delivered to the Directors under the DSBP are from those held by the Pharos employee benefit trust to satisfy such Awards. There is therefore no increase in the issued share capital of the Company as a result of the vesting and exercise of these Awards.
| a) | Name | SUE RIVETT | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Chief Financial Officer | ||
| b) | Initial notification /Amendment | Initial notification | ||
| a) | Name | PHAROS ENERGY PLC | ||
| b) | LEI | 549300DDKLXYLLO4N524 | ||
| a) | Description of the financial instrument, type of instrument Identification code | ORDINARY SHARES OF £0.05 EACH GB00B572ZV91 | ||
| b) | Nature of the transaction | 1. Exercise of nil-cost share awards under the Company's Deferred Share Bonus Plan 2014. 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) 145,431 Sale of proportion of resulting shares Price(s) £0.226207 Volume(s) 68,491 | ||
| d) | Aggregated information - Aggregated volume - Price | Transaction type | Aggregated Volume(s) | Price(s) |
| Exercise of share awards | 145,431 | £0.00 | ||
| Sale of a proportion of resulting shares | 68,491 | £15,493.14 | ||
| e) | Date of the transaction | 10/05/24 | ||
| f) | Place of the transaction | X-LON | ||
| 1 | Details of the person discharging managerial responsibilities | |||
| a) | Name | JANN BROWN | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Chief Executive Officer (PDMR) | ||
| b) | Initial notification /Amendment | Initial notification | ||
| a) | Name | PHAROS ENERGY PLC | ||
| b) | LEI | 549300DDKLXYLLO4N524 | ||
| a) | Description of the financial instrument, type of instrument Identification code | ORDINARY SHARES OF £0.05 EACH GB00B572ZV91 | ||
| b) | Nature of the transaction | 3. Exercise of nil-cost share awards under the Company's Deferred Share Bonus Plan 2014. 4. 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) 598,510 Sale of proportion of resulting shares Price(s) £0.226207 Volume(s) 281,867 | ||
| d) | Aggregated information - Aggregated volume - Price | Transaction type | Aggregated Volume(s) | Price(s) |
| Exercise of share awards | 598,510 | £0.00 | ||
| Sale of a proportion of resulting shares | 281,867 | £63,760.29 | ||
| e) | Date of the transaction | 10/05/24 | ||
| f) | Place of the transaction | X-LON |
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