20 March 2024
AFENTRA PLC
VESTING OF FOUNDERS'
INCENTIVE PLAN AWARDS
DIRECTOR / PDMR
DEALINGS
Afentra plc ('Afentra' or the
'Company'), the upstream oil and gas Company focused on
acquiring production and development assets in Africa announces the
conversion of conditional awards made to the executive directors of
the Company under the terms of the Afentra plc Founders' Share Plan
(the "Plan"), which were previously announced on 10 August 2022.
The conditional awards have converted into nil cost
options[1] ("Nil Cost Options") over
ordinary shares of £0.10 each in the Company ("Ordinary Shares")
following the first measurement date, which occurred on 16 March
2024. Fifty per cent. of the Nil Cost Options have vested
immediately, with the remainder vesting on 16 March
2026. Each of Paul McDade and Ian Cloke have exercised
their vested Nil Cost Options1.
As a consequence of the above, each
of the executive directors have received vested Ordinary Shares
after deductions for income tax and national insurance. The
price per Ordinary Share used to calculate the number of Ordinary
Shares to be issued to the executive directors was 39.49 pence,
being the average closing mid-market price of the Ordinary Shares
over the 30 day period ending on 16 March 2024 .
Details of the conversion and
vesting described above are as follows for each of the executive
directors:
|
Director
|
Nil Cost Options
granted1
|
Ordinary Shares received,
net of tax
|
Percentage of issued share
capital
|
Gross Number of unvested Nil
Cost Options1
|
|
Paul McDade
|
8,495,116
|
2,251,206
|
1.0%
|
4,247,558
|
|
Ian Cloke
|
6,345,750
|
1,681,624
|
0.74%
|
3,172,875
|
|
Anastasia Deulina
|
5,629,294
|
1,491,763
|
0.66%
|
2,814,647
|
As a result of the issuance of
Ordinary Shares pursuant to the Plan, the total aggregate
shareholding in the Company of Paul McDade comprises 5,339,398
Ordinary Shares, representing approximately 2.36% of the Company's
issued share capital, the total aggregate shareholding in the
Company of Ian Cloke and persons closely associated with him
comprises 3,807,455 Ordinary Shares, representing approximately
1.68% of the Company's issued share capital, and the total
aggregate shareholding in the Company of Anastasia Deulina
comprises 2,539,835 Ordinary Shares, representing approximately
1.12% of the Company's issued share capital. Further details
of the Plan and the conditional awards made thereunder were
disclosed in the Company's annual report and financial statements
for the year ended 31 December 2022.
Admission & Total Voting Rights
As a result of such vesting,
together with the vesting of certain awards made to employees other
than the executive directors under the Afentra plc Long Term
Incentive Plan ("LTIP") on 16 March 2024 the Company has applied to
the London Stock Exchange for admission of 6,102,470 new Ordinary
Shares to trading on AIM ("Admission"). Admission is expected to
occur on or around 21 March 2024.
The Company's issued share capital
now comprises 226,155,990 Ordinary Shares. The total number of
voting rights in the Company is 226,155,990. This figure may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or change to their interest in, the share capital of
the Company under the Disclosure Guidance and Transparency Rules of
the Financial Conduct Authority.
The following notifications are made
pursuant to Article 19(3) of the Market Abuse
Regulation.
PDMR
Notifications
|
1.
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a.
|
Name
|
Paul
McDade
|
|
2.
|
Reason for the notification
|
|
a.
|
Position/status
|
Chief Executive Officer
|
|
b.
|
Initial
notification/Amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a.
|
Name
|
Afentra plc
|
|
b.
|
LEI
|
21380028BFDFJK8BRX92
|
|
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
Identification code
|
Ordinary shares of £0.10 per share
par value
GB00B4X3Q493
|
|
b.
|
Nature of the transaction
|
Grant, Vesting and Exercise of Nil
Cost Options
|
|
c.
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
2,251,206
|
|
|
d.
|
Aggregated information
·Aggregated volume
·Price
|
N/A
|
|
e.
|
Date of the transaction
|
18 March 2024
|
|
f.
|
Place of the transaction
|
Off Market
|
|
1.
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a.
|
Name
|
Ian
Cloke
|
|
2.
|
Reason for the notification
|
|
a.
|
Position/status
|
Chief Operating Officer
|
|
b.
|
Initial
notification/Amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a.
|
Name
|
Afentra plc
|
|
b.
|
LEI
|
21380028BFDFJK8BRX92
|
|
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
Identification code
|
Ordinary shares of £0.10 per share
par value
GB00B4X3Q493
|
|
b.
|
Nature of the transaction
|
Grant, Vesting and Exercise of Nil
Cost Options
|
|
c.
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,681,624
|
|
|
d.
|
Aggregated information
·Aggregated volume
·Price
|
N/A
|
|
e.
|
Date of the transaction
|
18 March 2024
|
|
f.
|
Place of the transaction
|
Off Market
|
|
1.
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a.
|
Name
|
Anastasia Deulina
|
|
2.
|
Reason for the notification
|
|
a.
|
Position/status
|
Chief Financial Officer
|
|
b.
|
Initial
notification/Amendment
|
Initial Notification
|
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a.
|
Name
|
Afentra plc
|
|
b.
|
LEI
|
21380028BFDFJK8BRX92
|
|
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
Identification code
|
Ordinary shares of £0.10 per share
par value
GB00B4X3Q493
|
|
b.
|
Nature of the transaction
|
Vesting of Ordinary Shares
|
|
c.
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
1,491,763
|
|
|
d.
|
Aggregated information
·Aggregated volume
·Price
|
N/A
|
|
e.
|
Date of the transaction
|
18 March 2024
|
|
f.
|
Place of the transaction
|
Off Market
|
For further information,
contact
|
Afentra plc
+44 (0)20 7405 4133
Paul McDade, CEO
Anastasia Deulina, CFO
|
|
Buchanan (Financial PR)
+44 (0)20 7466 5000
Ben Romney
Barry Archer
George Pope
|
|
|
|
Peel Hunt LLP (Nominated Advisor and Joint
Broker)
+44 (0)20 7418 8900
Richard Crichton
David McKeown
Georgia Langoulant
|
|
|
|
Tennyson Securities (Joint
Broker)
+44 (0)20 7186 9033
Peter Krens
About Afentra
Afentra plc (AIM:AET) is an upstream
oil and gas company focused on opportunities in Africa. The
Company's purpose is to support a responsible energy transition in
Africa by establishing itself as a credible partner for divesting
IOCs and Host Governments. Afentra has a 16% non-operated
interest in the producing Block 3/05, a 5.33% non-operating
interest in the adjacent development Block 3/05A, and a 40%
non-operating interest in the exploration Block 23, all offshore
Angola in the Lower Congo Basin. Afentra has a current carried
interest in the Odewayne Block onshore southwestern
Somaliland.
|