Business
Deferred 2025 Annual Bonus
Seascape Energy Asia plc announced that its Executive Directors have elected to receive the unpaid portion of their 2025 annual bonus in the form of equity, specifically nil-cost options to acquire ordinary shares. This decision, made following a recent placing, aims to align directors' interests with shareholders and build their equity stakes. Following these awards, directors will collectively hold 7.8% of the company's issued share capital. The options, granted on April 21, 2026, at a price of 64.7 pence per share, will vest in 12 months and are exercisable for up to five years. Specifically, Nick Ingrassia (CEO) received options for 232,721 shares (0.33% ISC), James Menzies (Executive Chairman) for 164,991 shares (0.24% ISC), and Pierre Eliet (Executive Director Corporate Development) for 166,578 shares (0.24% ISC). Disclaimer*
About this update from Seascape Energy Asia Plc
THIS ANNOUNCEMENT DOES NOT CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). 22 April 2026 Seascape Energy Asia plc (the "Company", "Seascape Energy" or "Seascape") Notification of Transaction by Person Discharging Managerial Responsibilities ("PDMR") Deferred 2025 Annual Bonus The Executive Directors have elected to receive the as yet unpaid element of their annual 2025 bonus in the form of equity in the Company. The Awards Fifty percent of the Executive Directors' 2025 bonus was to be paid in cash but contingent upon a suitable liquidity event having occurred. Whilst the recent placing of new ordinary shares in the Company qualifies as such an event, t he Executive Directors have taken the view that it would not be appropriate to use those monies in part to pay the cash element of their bonuses. Moreover, taking the award in equity enables them to continue to continue to build their equity stakes in the Company, ensuring alignment with shareholders. Following the vesting of these awards, together with those awarded in January and the existing shareholdings, the Directors will hold a total of 7.8% of the Company's issued share capital. Accordingly the Company's Remuneration Committee has decided to make these equity awards under the existing LTIP scheme. This will see the Executive Directors being awarded nil cost options to acquire ordinary shares in the Company. The number of shares and percentage of the Company's current issued share capital (" ISC "), is set out below: PDMR Title No. of Option shares ISC% Nick Ingrassia CEO 232,721 0.33 James Menzies Executive Chairman 164,991 0.24 Pierre Eliet Executive Director Corporate Development 166,578 0.24 To be consistent, the calculation of the Awards has utilised the same price and date of grant used for the first part of the bonus made by way of an LTIP Award, announced on 13 January 2026. Subject to the rules of the Plan the Options will vest in 12 months from the date of grant and be exercisable for a period of up to five years from grant. The LTIP The LTIP, which is designed to provide incentivisation and retention for the Company's personnel, was approved by shareholders at the 2020 AGM and the principal terms are summarised in the Company's Re-admission document of 10 June 2021 (available on the Company's web site). Notification of Deal Forms of each PDMR can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014. Enquiries: Seascape Energy Asia plc [email protected] James Menzies (Executive Chairman) Nick Ingrassia (Chief Executive) Pierre Eliet (Executive Director) Stifel (Nomad and Joint Broker) Tel: +44 20 7710 7600 Callum Stewart Jason Grossman Ashton Clanfield [email protected] Cavendish Capital Markets Limited (Joint Broker) Tel: +44 20 7397 8900 Neil McDonald Pete Lynch Details of the person discharging managerial responsibilities/persons closely associated a) Position/status: 1. Executive Chairman 2. Chief Executive Officer 3. Executive Director Corporate Development b) Initial notification/Amendment: Initial Notification 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Seascape Energy Asia plc b) LEI: 213800D1D587TB36ST68 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 a) Description of the financial instrument, type of instrument: Identification code: Ordinary Shares of £0.10 each in the share capital of Seascape Energy Asia plc ISIN: GB00BKFW2482 b) Nature of transaction Grant of market priced options under the Seascape Energy Asia plc Long Term Incentive Plan c) Price(s) and volume(s): Price(s) Volume(s) 1. James Menzies 64.7p 232,721 2. Nick Ingrassia 64.7p 164,991 3. Pierre Eliet 64.7p 166,578 d) Aggregated information: · Aggregated volume: · Price: N/a N/a e) Date of the transaction: 21 April 2026 f) Place of the transaction: XOFF
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