Baron Oil PLC Grant of Share Options (2583J)
December 03 2018 - 8:35AM
UK Regulatory
TIDMBOIL
RNS Number : 2583J
Baron Oil PLC
03 December 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.
03 December 2018
Baron Oil Plc
("Baron Oil" or "the Company")
Grant of Share Options
Baron Oil (AIM: BOIL) announces that further to the announcement
dated 27 November 2018, the Company has now issued 10,000,000 Share
Options to Andrew Yeo, Non-Executive Director.
The Share Options have an exercise price of 0.44p, being the
mid-market closing price on 30 November 2018 and, as with the
existing Share Options, vest immediately and have an exercise
period of 3 years from the date of grant.
Following the issue of these Share Options and those issued on
27 November 2018, the number of Share Options in issue is as
follows:
Holder 2018 Options Exercise Pre-2018 Exercise Total Options % of Fully
Price Options Price Diluted
(p)* (p) Shares**
Malcolm Butler 10,000,000 0.435 20,000,000 0.350 30,000,000 2.07
------------- --------- ----------- --------- -------------- -----------
Geoff Barnes 10,000,000 0.435 10,500,000 0.350 20,500,000 1.42
------------- --------- ----------- --------- -------------- -----------
Andrew Yeo 10,000,000 0.440 - - 10,000,000 0.69
------------- --------- ----------- --------- -------------- -----------
William Colvin - - 10,500,000 0.350 10,500,000 0.73
------------- --------- ----------- --------- -------------- -----------
Total 30,000,000 41,000,000 71,000,000 4.91
------------- --------- ----------- --------- -------------- -----------
*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.
The independent directors, being Malcolm Butler and Geoff
Barnes, having consulted the Company's Nominated Adviser, consider
that the terms of the issue of the Share Options to Andrew Yeo 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 Andrew Yeo
----------------------------------------- ------------------------------------------
2. Reason for notification
-------------------------------------------------------------------------------------
(b) Position/status Non-executive director
----------------------------------------- ------------------------------------------
(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)
0.44 pence 10,000,000
-----------
----------------------------------------- ------------------------------------------
(e) Aggregated information: Single transaction
- Aggregated volume as in 4(d) above Prices(s) Volume(s)
- Price 0.44 pence 10,000,000
-----------
----------------------------------------- ------------------------------------------
(f) Date of transaction 03 December 2018
----------------------------------------- ------------------------------------------
(g) 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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