Prospex Energy plc received £87,677.88 following notice to exercise of options to subscribe for 2,191,947 new ordinary shares of 0.1p each in the company.
AGREEMENTS
The options were issued pursuant to option agreements dated 20 July 2020 and were exercised by two directors and an employee.
The exercise price is 4 pence per option exercised.
Following admission, Prospex will have a total of 272,984,675 ordinary shares in issue.
| Mark Routh | 900,000 |
| William Smith | 900,000 |
| Alasdair Buchanan | 900,000 |
| Richard Mays | 900,000 |
| Total | 3,600,000 |
SHARE OPTIONS
The company also granted a total of 3,600,000 share options to its board of directors.
The new options, granted on 23 September, represent 1.3% of the issued share capital after admission.
Following the award, the board and management will hold 8,593,468 options, representing 3.1% of the company.
| Director | Number | % of share capital following Admission |
| Mark Routh | 3,000,000 | 1.1% |
| William Smith | 1,821,669 | 0.7% |
| Richard Mays | 1,821,669 | 0.7% |
| Alasdair Buchanan | 1,800,000 | 0.7% |
| Total | 8,443,338 | 3.1% |
The new options have been awarded at 8.15p per share representing a 3.2% premium to 7.90p on 22 September 2022.
| Director | Expiry 31/3/25 | Strike Price | Expiry 17/3/25 | Strike Price | Total |
| William Smith | 21,669 | 75p | 900,000 | 5p | 921,669 |
| Richard Mays | 21,669 | 75p | 900,000 | 5p | 921,669 |
| Alasdair Buchanan | – | – | 900,000 | 5p | 900,000 |
| Mark Routh | – | – | 2,100,000 | 5p | 2,100,000 |
| Totals | 43,338 | 4,800,000 | 4,843,338 |
The options vest immediately and are exercisable for a period of five years.