Restricted Share Award Grant
Southern Energy grants 19.8m restricted share awards to employees, directors and officers under incentive plan.
- Total RSAs granted 19,800,000
- RSAs to PDMR 8,100,000
- CEO RSAs (Ian Atkinson) 2,400,000
- CFO RSAs (Calvin Yau) 2,100,000
- COO RSAs (Gary McMurren) 2,100,000
- Effective price per RSA CAD$0.05
Select text to share a quote on X · sign in to keep highlights & notes in your SOUC notes
Calgary, Alberta - August 20, 2025 - Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU) (AIM:SOUC) announces that pursuant to the Company's Share Award Incentive Plan, an aggregate of 19,800,000 restricted share awards ("RSAs") were granted as part of Southern's overall compensation and employee retention program.
The RSAs vest as to one third on each of the first, second and third anniversaries of the grant date. On the vesting dates of such RSAs, the holder is entitled to receive a cash payment or its equivalent in fully paid common shares of the Company ("Common Shares"), at the Company's discretion, equal to the closing market value per Common Share on the TSXV on the business day prior to such payment.
In aggregate, 8,100,000 of the RSAs were issued to directors and persons discharging managerial responsibilities ("PDMR") of the Company, as set out below:
| PDMR | Position | RSAs Awarded |
|---|---|---|
| Ian Atkinson | President and CEO (Director) | 2,400,000 |
| Calvin Yau | CFO | 2,100,000 |
| Gary McMurren | COO | 2,100,000 |
| Bruce Beynon | Non-Executive Director | 300,000 |
| Tamara MacDonald | Non-Executive Director | 300,000 |
| Joseph Nally | Non-Executive Director | 300,000 |
| Neil Smith | Non-Executive Director | 300,000 |
| Steven Smith | Non-Executive Director | 300,000 |
Southern Energy Corp.
| Ian Atkinson (President and CEO) | +1 587 287 5401 |
| Calvin Yau (CFO) | +1 587 287 5402 |
| Strand Hanson Limited - Nominated & Financial Adviser | +44 (0) 20 7409 3494 |
| James Bellman / Rob Patrick / Edward Foulkes | |
| Tennyson Securities - Broker | +44 (0) 20 7186 9033 |
Peter Krens / Jason Woollard
About Southern Energy Corp.
PDMR NOTIFICATION FORMS
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Ian Atkinson 2. Calvin Yau 3. Gary McMurren 4. Bruce Beynon 5. Tamara MacDonald 6. Joseph Nally 7. Neil Smith 8. Steven Smith |
| 2 | Reason for the notification | |
| a) | Position/status | 1. President and CEO (Director) 2. CFO 3. COO 4. Non-Executive Director 5. Non-Executive Director 6. Non-Executive Director 7. Non-Executive Director 8. Non-Executive Director |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Southern Energy Corp. |
| b) | LEI | 213800R25GL7J3EBJ698 |
| a) | Description of the financial instrument, type of instrument | Restricted Share Awards to receive common shares in Southern Energy Corp. or equivalent cash payment, at Company's sole discretion on vesting dates |
| Identification code | CA8428133059 | |
| b) | Nature of the transaction | Grant of restricted share awards |
| c) | Price(s) and volume(s) | Effective price Volumes 1. CAD$0.05 2,400,000 2. CAD$0.05 2,100,000 3. CAD$0.05 2,100,000 4. CAD$0.05 300,000 5. CAD$0.05 300,000 6. CAD$0.05 300,000 7. CAD$0.05 300,000 8. CAD$0.05 300,000 |
| d) | Aggregated information | N/A (single transaction for each individual) |
| e) | Date of the transaction | 20 August 2025 |
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.