TIDMLBE
RNS Number : 5590B
Longboat Energy PLC
14 February 2022
14 February 2022
Longboat Energy plc
("Longboat Energy", "the Company" or "Longboat")
Notification of Transaction by Person Discharging Managerial
Responsibilities ("PDMR")
Co-Investment Plan Awards
Longboat Energy announces conditional awards made under the
Company's Co-Investment Plan (the "CIP" or "Plan") to PDMRs of the
Company.
Following the purchase of ordinary shares of 10 pence each in
the share capital of the Company ('Shares') by certain PDMR's
announced earlier, the Company's Remuneration Committee, which is
made up exclusively of Non-Executive Directors, has made a
conditional award under the Plan to the following PDMRs (the
"Awards") in the form of options to acquire Shares in the Company
(the "Nil Cost Options"):
Shares Acquired Award
Price/ Issued
Share Share
PDMR Number Value Price Plan Shares Capital
No. GBP GBP GBP No. %
Helge Hammer 30,356 0.59 17,910 0.75 31,200 0.06
Jonathan Cooper 8,432 0.59 4,975 0.75 8,667 0.02
Nick Ingrassia 19,023 0.55 10,643 0.75 18,049 0.03
Julian Riddick 12,468 0.59 7,462 0.75 13,000 0.02
Hilde Salthe 11,805 0.59 6,965 0.75 12,133 0.02
The Plan allows employees to be granted matching share awards
with a value equal to the market value of Shares purchased by the
employees grossed up to reflect the pre-tax salary that each such
eligible employee would have had to be paid to acquire such
Investment Shares using their net income . The Company believes
that awards under the Plan strengthen alignment between employees
and shareholders through increased share ownership.
In order to avoid any potential windfall gain from the current
low share price, a price of 75p/Share has been used to calculate
the award being the share price of the last fund raising. The
Matching Share Award ratio applied is circa 1.3 being less than the
maximum permitted award ratio under the Rules being a ratio
equivalent to the pre-tax amount invested.
The Nil Cost Options will only vest and become exercisable
provided that the price of the S hares has increased from the base
price of 75pence/Share by an amount equal to or greater than 60%
between the date of the Award and 10 February 2025 (the "Vesting
Date"). If the performance condition is not met on the Vesting Date
the Nil Cost Options will lapse in full on that date.
Any Nil Cost options that vest shall be subject to a further
two-year holding period.
The Company may issue 15% of its share capital within a ten-year
period to satisfy awards to participants in the Plan, the Founders
Incentive Plan, the Long-Term Incentive Plan and any other share
plan operated by the Company under which shares are issued.
Notification of Deal Forms of each PDMR can be found below. This
announcement is made in accordance with Article 19 of the EU Market
Abuse Regulation 596/2014.
1. Details of the person discharging managerial responsibilities/persons closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Helge Hammer
--- -------------------------------------------------------- -------------------------------------------------------
2. Reason for notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/Status CEO
--- -------------------------------------------------------- -------------------------------------------------------
b) Initial notification/amendment Initial notification
--- -------------------------------------------------------- -------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Longboat Energy plc
--- -------------------------------------------------------- -------------------------------------------------------
b) LEI 213800D1D587TB36ST68
--- -------------------------------------------------------- -------------------------------------------------------
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, type of Ordinary Shares of GBP0.10 each in the capital of
instrument and identification code Longboat Energy plc ISIN: GB00BKFW2482
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of transaction Grant of options under the Longboat Energy plc
Co-Investment Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 31,200
---------- ----------
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated Information n/a
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of transaction 10 February 2022
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of transaction XOFF
--- -------------------------------------------------------- -------------------------------------------------------
1. Details of the person discharging managerial responsibilities/persons closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Jonathan Cooper
--- -------------------------------------------------------- -------------------------------------------------------
2. Reason for notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/Status CFO
--- -------------------------------------------------------- -------------------------------------------------------
b) Initial notification/amendment Initial notification
--- -------------------------------------------------------- -------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Longboat Energy plc
--- -------------------------------------------------------- -------------------------------------------------------
b) LEI 213800D1D587TB36ST68
--- -------------------------------------------------------- -------------------------------------------------------
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, type of Ordinary Shares of GBP0.10 each in the capital of
instrument and identification code Longboat Energy plc ISIN: GB00BKFW2482
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of transaction Grant of options under the Longboat Energy plc
Co-Investment Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 8,667
---------- ----------
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated Information n/a
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of transaction 10 February 2022
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of transaction XOFF
--- -------------------------------------------------------- -------------------------------------------------------
1. Details of the person discharging managerial responsibilities/persons closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Nicholas Ingrassia
--- -------------------------------------------------------- -------------------------------------------------------
2. Reason for notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/Status Corporate Development Director
--- -------------------------------------------------------- -------------------------------------------------------
b) Initial notification/amendment Initial notification
--- -------------------------------------------------------- -------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Longboat Energy plc
--- -------------------------------------------------------- -------------------------------------------------------
b) LEI 213800D1D587TB36ST68
--- -------------------------------------------------------- -------------------------------------------------------
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, type of Ordinary Shares of GBP0.10 each in the capital of
instrument and identification code Longboat Energy plc ISIN: GB00BKFW2482
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of transaction Grant of options under the Longboat Energy plc
Co-Investment Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 18,049
---------- ----------
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated Information n/a
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of transaction 10 February 2022
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of transaction XOFF
--- -------------------------------------------------------- -------------------------------------------------------
1. Details of the person discharging managerial responsibilities/persons closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Julian Riddick
--- -------------------------------------------------------- -------------------------------------------------------
2. Reason for notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/Status 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 Longboat Energy plc
--- -------------------------------------------------------- -------------------------------------------------------
b) LEI 213800D1D587TB36ST68
--- -------------------------------------------------------- -------------------------------------------------------
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, type of Ordinary Shares of GBP0.10 each in the capital of
instrument and identification code Longboat Energy plc ISIN: GB00BKFW2482
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of transaction Grant of options under the Longboat Energy plc
Co-Investment Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 13,000
---------- ----------
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated Information n/a
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of transaction 10 February 2022
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of transaction XOFF
--- -------------------------------------------------------- -------------------------------------------------------
1. Details of the person discharging managerial responsibilities/persons closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Name Hilde Salthe
--- -------------------------------------------------------- -------------------------------------------------------
2. Reason for notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/Status Managing Director, Longboat Energy Norge AS
--- -------------------------------------------------------- -------------------------------------------------------
b) Initial notification/amendment Initial notification
--- -------------------------------------------------------- -------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name Longboat Energy plc
--- -------------------------------------------------------- -------------------------------------------------------
b) LEI 213800D1D587TB36ST68
--- -------------------------------------------------------- -------------------------------------------------------
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, type of Ordinary Shares of GBP0.10 each in the capital of
instrument and identification code Longboat Energy plc ISIN: GB00BKFW2482
--- -------------------------------------------------------- -------------------------------------------------------
b) Nature of transaction Grant of options under the Longboat Energy plc
Co-Investment Plan
--- -------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 12,133
---------- ----------
--- -------------------------------------------------------- -------------------------------------------------------
d) Aggregated Information n/a
--- -------------------------------------------------------- -------------------------------------------------------
e) Date of transaction 10 February 2022
--- -------------------------------------------------------- -------------------------------------------------------
f) Place of transaction XOFF
--- -------------------------------------------------------- -------------------------------------------------------
This announcement does not contain inside information
Enquiries:
Longboat Energy via FTI
Helge Hammer, Chief Executive Officer
Jon Cooper, Chief Financial Officer
Stifel (Nomad) Tel: +44 20 7710 7600
Callum Stewart
Jason Grossman
Simon Mensley
Ashton Clanfield
FTI Consulting (PR adviser) Tel: +44 20 3727 1000
Ben Brewerton
Ntobeko Chidavaenzi longboatenergy@fticonsulting.com
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHFIFERFAISLIF
(END) Dow Jones Newswires
February 14, 2022 02:01 ET (07:01 GMT)
Longboat Energy (LSE:LBE)
Historical Stock Chart
From May 2024 to Jun 2024
Longboat Energy (LSE:LBE)
Historical Stock Chart
From Jun 2023 to Jun 2024
