17:00 Fri 29 May 2020
Rose Petroleum PLC - Grant of options
("Rose", the "Company" or the "Group")
Grant of Options
Rose (AIM: ROSE), the
Of the total number of Options being granted, 32,000,000 are exercisable at a price of 0.6p per Option, which is a 28 per cent premium to the closing mid-market price of the Company's Ordinary Shares on
The remaining 2,353,364 Options (the "Nil Cost Options"), which are exercisable at the Ordinary Shares' nominal value 0.1p each, have been granted to the Company's Non-Executive Directors ("NEDs") to compensate them for salaries that were deferred and not subsequently paid during the 2019 calendar year. In total, the Company's three NEDs agreed to defer salaries totaling
The Nil Cost options can be exercised for a period of seven years from today. If a NED leaves the Company, the options can be exercised within three years of the date of leaving, unless otherwise agreed by the Company.
"I'd also like to thank our Non-Executive Directors for agreeing to defer their salaries during the second half of 2019, and for their willingness to link that deferred compensation to Rose's future growth.
"While this is the first grant of options awarded since Rose's board and management were restructured, new members of Rose's Board have already invested significant funds into the Company over the past year by purchasing shares equivalent to more than 25% of Rose's issued share capital. The option awards today continue in the same spirit, signifying alignment between shareholders and management, and linking future compensation to growth in share price."
Of the total Options issued today, 27,353,364 have been issued to the directors of the Company as set out below, and the other 7,000,000 Options have been issued to employees and consultants of the Company.
Details of the Options granted to directors are outlined in the table below:
|
Number of 0.6p Options Granted |
Number of Nil Cost Options Granted |
Total number of options now held |
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12,000,000 |
0 |
12,000,000 |
|
6,000,000 |
0 |
7,900,000 |
|
3,000,000 |
444,273 |
3,444,273 |
|
2,000,000 |
545,455 |
2,545,455 |
|
2,000,000 |
1,363,636 |
3,363,636 |
The Options granted today represent approximately 12 per cent of the Company's current issued share capital. In total 45,790,187 Options are now outstanding, representing approximately 16 per cent of the Company's current issued share capital.
Further details and the information required in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014 are set out at the end of this announcement.
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Tel: +44 (0)20 7225 4599 Tel: +44 (0)20 7225 4599 |
Allenby Capital Limited - AIM Nominated Adviser
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Tel: +44 (0)20 3328 5656
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Turner Pope Investments - Joint Broker
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Tel: +44 (0)20 3657 0050 |
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Tel: +44 (0)20 7894 7686 |
Novum Securities Limited - Joint Broker |
Tel: +44 (0)20 7399 9427 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
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PDMRs:
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2. |
Reason for the Notification |
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a) |
Position/status |
See 1 a) above |
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b) |
Initial notification/Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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b) |
LEI |
254900TAVH3MBZ1EMC29 |
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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 |
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a) |
Description of the Financial instrument, type of instrument |
Ordinary shares of 0.1p each in |
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Identification code |
GB00B013M672 |
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b) |
Nature of the transaction |
Grant of options
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c) |
Price(s) and volume(s) |
Price: 0.6p
Volumes:
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d) |
Aggregated information: ·Aggregated volume ·Price |
N/A |
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e) |
Date of the transaction |
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f) |
Place of the transaction |
Outside a Trading Venue |
1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
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PDMRs:
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2. |
Reason for the Notification |
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a) |
Position/status |
See 1 a) above |
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b) |
Initial notification/Amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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b) |
LEI |
254900TAVH3MBZ1EMC29 |
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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 |
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a) |
Description of the Financial instrument, type of instrument |
Ordinary shares of 0.1p each in |
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Identification code |
GB00B013M672 |
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b) |
Nature of the transaction |
Grant of nil cost options
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c) |
Price(s) and volume(s) |
Price: 0.1p
Volumes:
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d) |
Aggregated information: ·Aggregated volume ·Price |
N/A |
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e) |
Date of the transaction |
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f) |
Place of the transaction |
Outside a Trading Venue |
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