TIDMECO
RNS Number : 4536R
Eco (Atlantic) Oil and Gas Ltd.
28 February 2019
28 February 2019
ECO (ATLANTIC) OIL & GAS LTD.
("Eco Atlantic", "Company" or, together with its subsidiaries,
the "Group")
Company's Incentive Plan - Grant of RSUs and Options
Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO, TSX-V:EOG) announces
that the Company has granted 3,030,000 Restricted Share Units to
directors, officers and advisers, of which 2,930,000 are to
existing Directors, pursuant to the Company's Restricted Share
Units Plan (the "RSUs"). The RSUs will vest immediately and convert
into common shares of no par value in the Company ("Common Shares")
("RSU Shares").
Additionally, the Company announces that, in compliance with the
Company's stock option plan, it has granted a total of 800,000
stock options (the "Options") to directors, officers and advisers,
of which 750,000 are to existing Directors. The Options are
exercisable at a price of $1.50 per Common Share, and a vesting
schedule allowing for the vesting of the Options in three equal
installments, with one third vesting immediately; one third vesting
on 1 March 2020 and one third vesting on 1 March 2021. The Options
expire on 1 March 2024.
Details of the RSUs and Options being granted to each director
are summarized in the table below:
Director RSUs Granted Options Granted
Moshe Peterburg 400,000 100,000
------------- ----------------
Gil Holzman 900,000 100,000
------------- ----------------
Colin Kinley 900,000 100,000
------------- ----------------
Gadi Levin 150,000 50,000
------------- ----------------
Alan Friedman 80,000 100,000
------------- ----------------
Kangulohi Angula - 100,000
------------- ----------------
Peter Nicol 250,000 100,000
------------- ----------------
Keith Hill 250,000 100,000
------------- ----------------
Application has been made for admission of the 3,030,000 RSU
Shares, which will rank pari passu with existing Common Shares, to
trading on AIM ("Admission"). It is expected that Admission will
become effective and trading will commence at 8:00 a.m. on 6 March
2019.
Following Admission, the enlarged issued share capital of the
Company will be 164,405,530 Common Shares. The above 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 a change to their interest in, the share capital of
the Company under the Disclosure and Transparency Rules.
For more information, please visit www.ecooilandgas.com or
contact the following:
Eco Atlantic Oil and Gas +1 (416) 250 1955
Gil Holzman, CEO
Colin Kinley, COO
Alan Friedman, VP
Strand Hanson Limited (Financial & Nominated
Adviser) +44 (0) 20 7409 3494
James Harris
Rory Murphy
James Bellman
Stifel Nicolaus Europe Limited (Joint
Broker)
Callum Stewart
Nicholas Rhodes
Ashton Clanfield +44 (0)20 7710 7600
Berenberg (Joint Broker) +44 (0) 20 3207 7800
Matthew Armitt
Detlir Elezi
Pareto Securities Limited (Joint Broker) +44 (0) 20 7786 4370
Søren Clausen +44 (0) 20 7786 4382
Davide Finelli +44 (0) 20 7786 4398
Matilda Mäkitalo +44 (0) 20 7786 4375
Blytheweigh (PR) +44 (0) 20 7138 3204
Tim Blythe
Julia Tilley
Jane Lenton
Notes to editors
Eco Atlantic is a TSX-V and AIM listed Oil & Gas exploration
and production Company with interests in Guyana and Namibia where
significant oil discoveries have been made.
The Group aims to deliver material value for its stakeholders
through oil exploration, appraisal and development activities in
stable emerging markets, in partnership with major oil companies,
including Tullow, Total and Azinam.
In Guyana, Eco Guyana holds a 15% working interest alongside
Total (25%) and Tullow Oil (60%) in the 1,800 km2 Orinduik Block in
the shallow water of the prospective Suriname-Guyana basin. The
Orinduik Block is adjacent and updip to the deep-water Liza Field
and Snoek, Payara, Pacora, Turbot, Longtail and Hammerhead
discoveries, recently made by ExxonMobil and Hess Corporation. The
more recent discovery by ExxonMobil and Hess Corporation, Pluma-1,
increased the estimate of recoverable resources for the Stabroek
Block to more than 5 billion barrels of oil equivalent, and the
latest discoveries at Tilapia-1 and Haimara-1 will further add to
that estimate.
In Namibia, the Company holds interests in four offshore
petroleum licences totalling approximately 25,000km2 with over 2.3
billion barrels of prospective P50 resources in the Walvis and
Lüderitz Basins. These four licences, Cooper, Guy, Sharon and Tamar
are being developed alongside partners Azinam and NAMCOR. Eco has
been granted a drilling permit on its Cooper Block (Operator).
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
PDMR Notification Forms
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Moshe Peterburg
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -----------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -----------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -----------------------------------------
Identification code CA27887W1005
-------------------------------- -----------------------------------------
b) Nature of the Transaction Receipt of Common Shares and Options
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 400,000 common
shares pursuant
to the conversion
of the RSUs
100,000 Options
-------------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 28 February 2019
-------------------------------- -----------------------------------------
f) Place of the transaction N/A
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gil Holzman
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status CEO and Director of the Company
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -----------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -----------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -----------------------------------------
Identification code CA27887W1005
-------------------------------- -----------------------------------------
b) Nature of the Transaction Receipt of Common Shares and Options
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 900,000 common
shares pursuant
to the conversion
of the RSUs
100,000 Options
-------------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 28 February 2019
-------------------------------- -----------------------------------------
f) Place of the transaction N/A
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Colin Kinley
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -----------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -----------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -----------------------------------------
Identification code CA27887W1005
-------------------------------- -----------------------------------------
b) Nature of the Transaction Receipt of Common Shares and Options
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 900,000 common
shares pursuant
to the conversion
of the RSUs
100,000 Options
-------------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 28 February 2019
-------------------------------- -----------------------------------------
f) Place of the transaction N/A
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gadi Levin
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -----------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -----------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -----------------------------------------
Identification code CA27887W1005
-------------------------------- -----------------------------------------
b) Nature of the Transaction Receipt of Common Shares and Options
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 150,000 common
shares pursuant
to the conversion
of the RSUs
50,000 Options
-------------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 28 February 2019
-------------------------------- -----------------------------------------
f) Place of the transaction N/A
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alan Friedman
-------------------------------- -------------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -------------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -------------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -------------------------------------------
Identification code CA27887W1005
-------------------------------- -------------------------------------------
b) Nature of the Transaction Receipt of Common Shares and Options
-------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 80,000 common shares
pursuant to the
conversion of the
RSUs
100,000 Options
---------------------
-------------------------------- -------------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -------------------------------------------
e) Date of the transaction 28 February 2019
-------------------------------- -------------------------------------------
f) Place of the transaction N/A
-------------------------------- -------------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Peter Nicol
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -----------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -----------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -----------------------------------------
Identification code CA27887W1005
-------------------------------- -----------------------------------------
b) Nature of the Transaction Receipt of Common Shares and Options
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 250,000 common
shares pursuant
to the conversion
of the RSUs
100,000 Options
-------------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 28 February 2019
-------------------------------- -----------------------------------------
f) Place of the transaction N/A
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Keith Hill
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director of the Company
-------------------------------- -----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name ECO (ATLANTIC) OIL & GAS LTD.
-------------------------------- -----------------------------------------
b) LEI 213800WPR7ASTDWQUW50
-------------------------------- -----------------------------------------
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 Issue of common shares of no par value
instrument, type of instrument in the Company pursuant to the vesting
of restricted share units (RSUs)
-------------------------------- -----------------------------------------
Identification code CA27887W1005
-------------------------------- -----------------------------------------
b) Nature of the Transaction Receipt of Common Shares and Options
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil consideration 250,000 common
shares pursuant
to the conversion
of the RSUs
100,000 Options
-------------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 28 February 2019
-------------------------------- -----------------------------------------
f) Place of the transaction N/A
-------------------------------- -----------------------------------------
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
DSHPGUUUPUPBGPR
(END) Dow Jones Newswires
February 28, 2019 07:04 ET (12:04 GMT)
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