Grant of RSUs & Issue of Shares
Sintana Energy Inc. has approved the grant of 7,250,000 restricted share units (RSUs) to directors and service providers, and announced the exercise of stock options for 400,000 common shares. Additionally, 2,600,000 common shares will be issued upon the conversion of RSUs. Following these transactions and the expected admission of 3,000,000 new common shares on January 7, 2026, the company's total issued share capital will be 513,356,240 common shares. Keith Spickelmier, Non-Executive Chairman, converted 800,000 RSUs and exercised 300,000 stock options, while Non-Executive Director Douglas Manner converted 600,000 RSUs.
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Sintana Energy Inc (TSXV:SEI, AIM:SEI, OTCQX:SEUSF), reports that its Board of Directors has approved the grant of a total of 7,250,000 restricted share units ("RSUs") to several directors and service providers of the Company.
In addition, the Company announces that it has received a notice of exercise in respect of stock options over 400,000 common shares of no-par value each in the Company ("Common Shares"). The Company is also issuing an aggregate of 2,600,000 Common Shares upon the conversion of RSUs.
The Persons Discharging Managerial Responsibilities ("PDMRs") who have exercised stock options and/or converted RSUs into Common Shares are as follows:
| Name of PDMR | Number of RSUs converted into Common Shares | Number of stock options exercised | Resultant holding in the Company | Resultant percentage interest in the Company |
|---|---|---|---|---|
| Keith Spickelmier (Non-Executive Chairman) | 800,000 | 300,000 | 6,552,500 | 1.3% |
| Douglas Manner (Non-Executive Director) | 600,000 | - | 5,595,558 | 1.1% |
Total Voting Rights
Application has been made for admission to trading on the AIM of a total of 3,000,000 new Common Shares of no-par value ("Admission"). Admission is expected on 7 January 2026. On Admission, the new Common Shares will rank pari passu with the Company's existing Common Shares. Following Admission, the Company's issued share capital will consist of 513,356,240 Common Shares, with each Common Share carrying the right to one vote. The Company does not hold any Common Shares in treasury.
This figure of 513,356,240 Common Shares may therefore be used by shareholders in the Company, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
| 2. | Reason for the notification | |
| a. | Position/status | 1. Chief Executive Officer & Executive Director 2. Senior Manager 3. Non-Executive Chairman 4. Non-Executive Director 5. Non-Executive Director |
| b. | Initial notification /Amendment | Initial notification |
| a. | Name | Sintana Energy Inc. |
| b. | LEI | 984500ETD72B0D4E4645 |
| a. | Description of the financial instrument, type of instrument Identification code | Restricted share units over common shares ISIN: CA82938H1073 |
| b. | Nature of the transaction | Grant of restricted share units |
| c. | Price(s) and volume(s) | Price(p) Restricted share units Robert Bose N/A 1,500,000 Sean Austin N/A 1,250,000 Keith Spickelmier N/A 1,000,000 Douglas Manner N/A 1,000,000 Knowledge Katti N/A 1,000,000 |
| d. | Aggregated information Aggregated volume Price | Price Restricted share units N/A 5,750,000 |
| f. | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a. | Name | 1. Keith Spickelmier 2. Douglas Manner |
| 2. | Reason for the notification | |
| a. | Position/status | 1. Non-Executive Chairman 2. Non-Executive Director |
| b. | Initial notification /Amendment | Initial notification |
| a. | Name | Sintana Energy Inc. |
| b. | LEI | 984500ETD72B0D4E4645 |
| a. | Description of the financial instrument, type of instrument Identification code | Common Shares of no-par value ISIN: CA82938H1073 |
| b. | Nature of the transaction | Conversion of Restricted Share Units |
| c. | Price(s) and volume(s) | Price Volume Keith Spickelmier N/A 800,000 Douglas Manner N/A 600,000 |
| d. | Aggregated information Aggregated volume Price | Price Volume N/A 1,400,000 |
| f. | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a. | Name | Keith Spickelmier |
| 2. | Reason for the notification | |
| a. | Position/status | Non-Executive Chairman |
| b. | Initial notification /Amendment | Initial notification |
| a. | Name | Sintana Energy Inc. |
| b. | LEI | 984500ETD72B0D4E4645 |
| a. | Description of the financial instrument, type of instrument Identification code | Common Shares of no-par value ISIN: CA82938H1073 |
| b. | Nature of the transaction | Exercise of stock options |
| c. | Price(s) and volume(s) | Exercise Price (CA$) Volume Keith Spickelmier CA$0.10 300,000 |
| d. | Aggregated information Aggregated volume Price | Exercise Price (CA$) Volume CA$0.10 300,000 |
| f. | Place of the transaction | Outside a trading venue |
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