Orcadian Energy PLC PDMR Transfer of Shareholding (1209W)
December 20 2021 - 2:00AM
UK Regulatory
TIDMORCA
RNS Number : 1209W
Orcadian Energy PLC
20 December 2021
20 December 2021
Orcadian Energy plc
("Orcadian Energy", "Orcadian" or the "Company")
PDMR Transfer of Shareholding
The Company was notified today that on 17 December 2021 Stephen
Brown, a director of the Company and his wife, Julia
Cane-Honeysett, have transferred their entire holding of ordinary
shares in the Company to a third party nominee, Ferlim Nominees
Limited, for nil consideration. Stephen Brown and his wife remain
the beneficial holders of these shares. Accordingly, the total
number of ordinary shares that Julia Cane-Honeysett has an interest
in remains unchanged at 14,739,495 Ordinary Shares, representing
23.12% of the issued share capital of the Company, and the total
number of Ordinary Shares that Stephen Brown is deemed to be
interested in, including the ordinary shares held by his wife,
remains unchanged at 29,164,683 Ordinary Shares, representing
45.74% of the issued share capital in the Company.
The notifications set out below are provided in accordance with
the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
--- --------------------------------------------------------------------------------------------------
a) Name Stephen Brown
--- ------------------------------------------------------------ ------------------------------------
2 Reason for the 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 Orcadian Energy plc
--- ------------------------------------------------------------ ------------------------------------
b) LEI 213800S2M4Z7VSJVN964
--- ------------------------------------------------------------ ------------------------------------
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 instrument Ordinary shares of 0.1 pence each
Identification code
GB00BN0TY502
--- ------------------------------------------------------------ ------------------------------------
b) Nature of the transaction Transfer between connected accounts
--- ------------------------------------------------------------ ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- -----------
Nil 14,425,188
--- ------------------------------------------------------------ ------------------------------------
d) Aggregated information
- Aggregated volume 14,425,188
- Price Nil
--- ------------------------------------------------------------ ------------------------------------
e) Date of the transaction 17 December 2021
--- ------------------------------------------------------------ ------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
1 Details of the PCA
--- --------------------------------------------------------------------------------------------------
a) Name Julia Cane-Honeysett
--- ------------------------------------------------------------ ------------------------------------
2 Reason for the notification
--- --------------------------------------------------------------------------------------------------
a) Position/status PCA of Stephen Brown
--- ------------------------------------------------------------ ------------------------------------
b) Initial notification/amendment Initial notification
--- ------------------------------------------------------------ ------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------------------------------------------
a) Name Orcadian Energy plc
--- ------------------------------------------------------------ ------------------------------------
b) LEI 213800S2M4Z7VSJVN964
--- ------------------------------------------------------------ ------------------------------------
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 instrument Ordinary shares of 0.1 pence each
Identification code
GB00BN0TY502
--- ------------------------------------------------------------ ------------------------------------
b) Nature of the transaction Transfer between connected accounts
--- ------------------------------------------------------------ ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- -----------
Nil 14,739,495
--- ------------------------------------------------------------ ------------------------------------
d) Aggregated information
- Aggregated volume 14,739,495
- Price Nil
--- ------------------------------------------------------------ ------------------------------------
e) Date of the transaction 17 December 2021
--- ------------------------------------------------------------ ------------------------------------
f) Place of the transaction London Stock Exchange (XLON)
--- ------------------------------------------------------------ ------------------------------------
Contact:
Orcadian Energy plc + 44 20 7920 3150
Steve Brown, CEO
Alan Hume, CFO
-------------------------
WH Ireland (Nomad and Joint Broker) +44 20 7220 1666
-------------------------
Katy Mitchell / Andrew de Andrade (Nomad)
Harry Ansell / Fraser Marshall (Corporate
Broking)
-------------------------
Shore Capital (Joint Broker) +44 20 7408 4090
-------------------------
Toby Gibbs / James O'Neill (Advisory)
-------------------------
Tavistock (PR) + 44 20 7920 3150
-------------------------
Nick Elwes / Simon Hudson / Matthew orcadian@tavistock.co.uk
Taylor
-------------------------
Charlesbye (PR) + 44 7403 050525
-------------------------
Lee Cain / Lucia Hodgson
-------------------------
About Orcadian Energy
Orcadian is a North Sea oil and gas operator with a difference.
In planning its Pilot development, Orcadian has selected wind power
to transform oil production into a cleaner and greener process. The
Pilot project is moving towards approval and will be amongst the
lowest carbon emitting oil production facilities in the world,
despite being a viscous crude. Orcadian may be a small operator,
but it is also nimble, and the Directors believe it has grasped
opportunities that have eluded some of the much bigger companies.
As we strike a balance between Net Zero and a sustainable energy
supply, Orcadian intends to play its part to minimise the cost of
Net Zero and deliver reliable organic energy.
Orcadian Energy (CNS) Ltd ("CNS"), Orcadian's operating
subsidiary, was founded in 2014 and is the sole licensee of P2244,
which contains 78.8 MMbbl of 2P Reserves in the Pilot discovery,
and of P2320 and P2482, which contain a further 77.8 MMbbl of 2C
Contingent Resources in the Elke, Narwhal and Blakeney discoveries
(as audited by Sproule, see the CPR in the Company's Admission
Document for more details). Within these licences there are also
191 MMbbl of unrisked Prospective Resources. These licences are in
blocks 21/27, 21/28, 28/2 and 28/3, and lie 150 kms due East of
Aberdeen. The Company also has a 50% working interest in P2516,
which contains the Fynn discoveries. P2516 is administered by the
Parkmead Group and covers blocks 14/20g and 15/16g, which lie
midway between the Piper and Claymore fields, 180 kms due East of
Wick.
Pilot, which is the largest oilfield in Orcadian's portfolio was
discovered by Fina in 1989 and has been well appraised. In total
five wells and two sidetracks were drilled on Pilot, including a
relatively short horizontal well which produced over 1,800 bbls/day
on test. Orcadian's proposed development plan for Pilot is based
upon a Floating Production Storage and Offloading vessel, with over
thirty wells to be drilled by a Jack-up rig through a pair of well
head platforms and will include a floating wind turbine to provide
much of the energy used in the production process. Emissions per
barrel produced are expected to be about an eighth of the 2020
North Sea average and to lie in the lowest 5% of global oil
production.
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
DSHGPGGUPUPGPPB
(END) Dow Jones Newswires
December 20, 2021 02:00 ET (07:00 GMT)
Orcadian Energy (LSE:ORCA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Orcadian Energy (LSE:ORCA)
Historical Stock Chart
From Jul 2023 to Jul 2024