Prospex Energy plc has granted a total 4.4 million share options in the company, at 6.4p per share representing a 9.4% premium, to directors and management.
EXPIRY
The new options awarded represent 1.09% of the total issued share capital of the company as on 2 October 2024.
The total options now awarded to directors and management amounts to 22,346,364, representing 5.55% of the total issued share capital on 2 October 2024.
The company said that the options would vest three months from issue and were exercisable for a period of five years.
Chief executive Mark Routh received 1.3m options, taking his total to 6,733,333.
Non-executive director William Smith received 400,000 for 2,891,669.
Independent NEDs Alasdair Buchanan and Andrey Hay each received 400,000 for 2,870,000 and 1,300,000 respectively.
Group head of finance Grant Glanfield 750,000 for 1,825,556; and other non-PDMR staff a total 1.15m (15,620,558).
Prospex also extended the expiry term for 5p options awarded in March 2022 from March 2025 to March 2027, so all options granted expire on the fifth anniversary from the date of the award.
Directors interested include Mr Routh with 2.1m options; and Mr Smith and Mr Buchanan each with 900,000 options.