Baron Oil PLC Grant of Share Options (6520I)
November 27 2018 - 7:38AM
UK Regulatory
TIDMBOIL
RNS Number : 6520I
Baron Oil PLC
27 November 2018
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
27 November 2018
Baron Oil Plc
("Baron Oil" or "the Company")
Grant of Share Options
Baron Oil (AIM: BOIL) announces that the Company has issued
10,000,000 Share Options to each of Malcolm Butler, Chairman and
Chief Executive Officer, and Geoff Barnes, Finance Director and
Company Secretary.
The Share Options have an exercise price of 0.435p, being the
mid-market closing price on 26 November 2018 and, as with the
existing Share Options, vest immediately and have an exercise
period of 3 years from the date of grant.
The Company is considering issuing Share Options to Andrew Yeo,
non-executive director, and a further announcement will be made in
due course, if appropriate.
Following the issue of these Share Options, the number of Share
Options in issue is as follows:
Holder New Options Exercise Existing Exercise Total Options % of Fully
Price* Options Price Diluted
Shares**
Malcolm Butler 10,000,000 0.435p 20,000,000 0.35p 30,000,000 2.09%
------------ --------- ----------- --------- -------------- -----------
Geoff Barnes 10,000,000 0.435p 10,500,000 0.35p 20,500,000 1.43%
------------ --------- ----------- --------- -------------- -----------
Andrew Yeo - - - - - -
------------ --------- ----------- --------- -------------- -----------
William Colvin - - 10,500,000 0.35p 10,500,000 0.73%
------------ --------- ----------- --------- -------------- -----------
Total 20,000,000 41,000,000 61,000,000 4.24%
------------ --------- ----------- --------- -------------- -----------
*closing mid-market price of Ordinary **Issued Share Capital
Shares the day before grant 1,376,409,576
The issue of the Share Options is a related party transaction
under Rule 13 of the AIM Rules for Companies.
Andrew Yeo, being the independent director and having consulted
the Company's Nominated Adviser, considers that the terms of the
issue of the Share Options to Malcolm Butler and Geoff Barnes are
fair and reasonable insofar as the shareholders of the Company are
concerned.
PDMR Notification
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name of person Dealing Malcolm Butler
----------------------------------------- -------------------------------------------
2. Reason for notification
--------------------------------------------------------------------------------------
(b) Position/status Chairman and Chief
Executive Officer
----------------------------------------- -------------------------------------------
(c) Initial notification/ Amendment Initial notification
----------------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
(d) Name of entity Baron Oil Plc
----------------------------------------- -------------------------------------------
(e) LEI 213800MBSOS9UZ5SW712
----------------------------------------- -------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------------
(a) Description of the financial instrument, Options over ordinary
type of instrument shares of 0.025 pence
each in the Company
----------------------------------------- -------------------------------------------
(b) Identification code GB00B01QGH57
----------------------------------------- -------------------------------------------
(c) Nature of the transaction Grant of options over
ordinary shares
----------------------------------------- -------------------------------------------
(d) Price(s) and volume(s) Prices(s) Volume(s)
0.435 pence 10,000,000
-----------
----------------------------------------- -------------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price 0.435 pence 10,000,000
-----------
----------------------------------------- -------------------------------------------
(f) Date of transaction 27 November 2018
----------------------------------------- -------------------------------------------
(g) Place of transaction Outside a trading venue
----------------------------------------- -------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Full name of person Dealing Geoffrey Barnes
----------------------------------------- ----------------------------------------
2. Reason for notification
-----------------------------------------------------------------------------------
(a) Position/status Finance Director and
Company Secretary
----------------------------------------- ----------------------------------------
(b) Initial notification/ Amendment Initial notification
----------------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
(a) Name of entity Baron Oil Plc
----------------------------------------- ----------------------------------------
(b) LEI 213800MBSOS9UZ5SW712
----------------------------------------- ----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------------
(c) Description of the financial instrument, Options over ordinary
type of instrument shares of 0.025 pence
each in the Company
----------------------------------------- ----------------------------------------
(d) Identification code GB00B01QGH57
----------------------------------------- ----------------------------------------
(e) Nature of the transaction Grant of options over
ordinary shares
----------------------------------------- ----------------------------------------
(f) Price(s) and volume(s) Prices(s) Volume(s)
0.435 pence 10,000,000
-----------
----------------------------------------- ----------------------------------------
(g) Aggregated information: Single transaction as
- Aggregated volume in 4(d) above Prices(s) Volume(s)
- Price 0.435 pence 10,000,000
-----------
----------------------------------------- ----------------------------------------
(h) Date of transaction 27 November 2018
----------------------------------------- ----------------------------------------
(i) Place of transaction Outside a trading venue
----------------------------------------- ----------------------------------------
For further information, please contact:
+44 (0)1892 838
Baron Oil Plc 948
Malcolm Butler, Chairman & Chief Executive Officer
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Joint Broker
Lindsay Mair, Richard Hail, Richard Redmayne
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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