Business
Grant of share options
Grant of share options.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n\n24 August 2023\n \nDeltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources\n \nDeltic Energy Plc (\"Deltic\" or the \"Company\")\n \nGrant of share options\nNotification of transactions by directors/persons discharging managerial responsibilities\n \nDeltic Energy Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern North Sea, announces that the Company has granted options over a total of 2,025,000 ordinary shares in the Company (\"Ordinary Shares\") to its Directors, senior management and employees (the \"Options\"). The Options have been granted at an exercise price of 28.25 pence each, being the closing mid-market price of an Ordinary Share on 23 August 2023, the latest practicable date prior to this announcement.\n \nThe Options have been granted as a mixture of Enterprise Management Incentives qualifying and non-qualifying options, in relation to the Company's Enterprise Management Incentives Plan.\n \nThe Options may vest in three equal tranches over three years and are exercisable, to the extent vested, until 10 years from the date of grant. The first tranche of one third of the Options may vest after one year from the date of grant, the second tranche of one third of the Options may vest after two years, and the third and final tranche may vest after three years.\n \nDirectors and Senior Management\nThe following Options have been granted to Deltic's Directors and Senior Management:\n \n\n\n\n\nName\n\n\nPosition\n\n\nNumber of Options granted\n \n\n\nTotal options held following grant\n\n\n\n\nGraham Swindells\n\n\nChief Executive\n\n\n600,000\n\n\n3,532,600\n\n\n\n\nAndrew Nunn\n\n\nChief Operating Officer\n\n\n600,000\n\n\n3,532,600\n\n\n\n\nSarah McLeod\n\n\nChief Financial Officer\n\n\n300,000\n\n\n1,051,480\n\n\n\n\n \nOther Senior Staff and Employees\nA further 525,000 Options have been granted to certain other senior staff and employees at the same exercise price of 28.25 pence per Ordinary Share.\nThe Options awarded are equivalent to 2.17% of the Company's current issued share capital. In total, 10,066,560 options over Ordinary Shares in the Company are now outstanding, representing approximately 10.8% of the Company's current issued share capital. The tota...