Increase in Director Shareholding
CFO Sue Rivett exercised 422,994 vested deferred share awards and sold 199,212 shares to cover tax.
- Awards vested and exercised 422,994 shares
- Shares sold to settle tax 199,212 shares
- Price achieved on sale £0.243767 per share
- Shares retained 223,782 shares
- Total shareholding after transaction 1,142,191 shares (0.276% of issued capital)
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The Company announces that on 23 January 2025, Sue Rivett, its Chief Financial Officer increased her shareholding pursuant to the exercise of vested awards ("Awards") under the Company's Deferred Share Bonus Plan 2014 ("DSBP") over ordinary shares of £0.05 each in the Company ("Shares").
The DSBP Awards exercised are set out in the table below. The Awards were originally granted in 2023 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 2022 financial year.
| 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 | 13 January 2023 | 422,994 | 199,212 | £0.243767 | 223,782 | 1,142,191 | 0.276% |
| 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 ("SHARES") 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) 422,994 Sale of proportion of resulting shares Price(s) £0.243767 Volume(s) 199,212 | |||||
| d) | Aggregated information - Aggregated volume - Price | Transaction type | Aggregated Volume(s) | Price(s) | |||
| Exercise of share awards | 422,994 | £0.00 | |||||
| Sale of a proportion of resulting shares | 199,212 | £48,561.31 | |||||
| e) | Date of the transaction | 23/01/2025 | |||||
| f) | Place of the transaction | X-LON |
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