Increase in Director Shareholding
CFO Sue Rivett exercised LTIP awards vesting after three years, acquiring 632,973 shares.
- LTIP Awards vested and exercised 1,196,429 shares
- Shares acquired and held 632,973 shares
- Total shares held following transactions 1,787,081 shares
- Percentage of issued share capital 0.430%
- Sale price per share £0.211952
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The Company announces that on 4 April 2025, Sue Rivett, its Chief Financial Officer increased her shareholding pursuant to the exercise of awards ("Awards") under the Company's Long-Term Incentive Plan ("LTIP") over ordinary shares of £0.05 each in the Company ("Shares").
The LTIP Awards vested and exercised are set out in the table below. The Awards were originally granted in 2022 to vest and become exercisable after three years at nil price, subject to the satisfaction of performance conditions.
| 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 | 25 March 2022 | 1,196,429 | 563,456 | £0.211952 | 632,973 | 1,787,081 | 0.430% |
| 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-price share awards under the Company's Long-Term Incentive Plan. 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) 1,196,429 Sale of proportion of resulting shares Price(s) £0.211952 Volume(s) 563,456 | |||||
| d) | Aggregated information - Aggregated volume - Price | Transaction type | Aggregated Volume(s) | Price(s) | |||
| Exercise of share awards | 1,196,429 | £0.00 | |||||
| Sale of a proportion of resulting shares | 563,456 | £119,425.63 | |||||
| e) | Date of the transaction | 04/04/2025 | |||||
| f) | Place of the transaction | X-LON |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.