Restricted Share Award Grant
Southern Energy Corp. has granted 6,900,000 restricted share awards (RSAs) as part of its compensation and retention program, with 2,500,000 of these awarded to directors and persons discharging managerial responsibilities (PDMRs), including the President and CEO, CFO, and COO. These RSAs vest over three years and will result in a cash payment or common share equivalent based on the closing market value prior to vesting. Additionally, the company has announced its Annual Meeting of Shareholders on September 30, 2026, with formal notice and information circular available on its website and SEDAR+.
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Calgary, Alberta - September 4, 2026 - 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 6,900,000 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, 2,500,000 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) | 800,000 |
| Calvin Yau | CFO | 700,000 |
| Gary McMurren | COO | 700,000 |
| Bruce Beynon | Non-Executive Director | 100,000 |
| Joseph Nally | Non-Executive Director | 100,000 |
| Steven Smith | Non-Executive Director | 100,000 |
Annual Meeting of Shareholders
Southern's Annual Meeting of Shareholders is to be held at the Company's offices located at Suite 2400, 333 - 7th Avenue S.W., Calgary, Alberta, T2P 2Z1, on Wednesday, September 30, 2026 at 10:00 a.m. (Calgary time) and by webcast via Zoom. Pursuant to the AIM Rules, it is noted that Formal notice of the meeting and the associated information circular, which includes resolutions in respect of, inter alia, prospective 'control person' approval and proposed board changes, is now available on the Company's website at https://southernenergycorp.com/2026-annual-meeting-of-shareholders and on SEDAR+ at www.sedarplus.ca.
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. Joseph Nally 6. 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 |
| 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$0.075 800,000 2. CAD$0.075 700,000 3. CAD$0.075 700,000 4. CAD$0.075 100,000 5. CAD$0.075 100,000 6. CAD$0.075 100,000 |
| d) | Aggregated information | N/A (single transaction for each individual) |
| e) | Date of the transaction | 3 September 2026 |
| 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.