Business
Issue of Salary Sacrifice Shares
Issue of Salary Sacrifice Shares.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n\n \nEmpyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas\n \nEmpyrean Energy plc\n \nIssue of Salary Sacrifice Shares and Holdings in the Company\n \n26 July 2024\n \nSalary Sacrifice Shares\n \nEmpyrean Energy plc (\"Empyrean\" or the \"Company\"), the oil and gas development company with interests in China, Indonesia and the United States, advises that it has issued 14,123,402 new Ordinary Shares of 0.2p each in the Company (the \"Salary Sacrifice Shares\"). As announced on February 13, 2024, the Salary Sacrifice Shares were to be issued at the higher of the February Placing price being 0.25p or the 5-day VWAP at the end of each month for April to July 2024 (the \"Issue Price\")\n \nThe Salary Sacrifice Shares to be issued were therefore calculated at the following 5-day VWAP prices:\n \nApril 2024 VWAP £0.00454\nMay 2024 VWAP £0.00342\nJune 2024 VWAP £0.00292\nJuly 2024 VWAP £0.00289\n \nThe Salary Sacrifice Shares were issued in lieu of cash remuneration for the period April through to July 2024 in order to preserve capital and ensure more funds are directed towards project activities, as previously advised to the market\n \nOf the total Salary Sacrifice Shares issued:\n \n· 6,756,808 Salary Sacrifice Shares were issued to the Managing Director of Empyrean, Tom Kelly. Following the issue of the Salary Sacrifice Shares, Mr Kelly has an interest in 123,317,571 Shares, representing 9.52% of the enlarged issued share capital of the Company.\n· 5,803,560 Salary Sacrifice Shares were issued to the Technical Director of Empyrean, Gaz Bisht. Following the issue of the Salary Sacrifice Shares, Mr Bisht has an interest in 56,398,839 Shares, representing 4.36% of the enlarged issued share capital of the Company.\n· 1,563,033 Salary Sacrifice Shares were issued to the Company Secretary of Empyrean, Jonathan Whyte. Following the issue of the Salary Sac...