Share Option Award

About this update from Prospex Energy Plc

Prospex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas   19 June 2026   Prospex Energy plc ("Prospex" or the "Company")   Share Option Award   Prospex Energy plc (AIM: PXEN), the AIM quoted investment company focused on European gas and power projects, announces that it has today granted a total of 14,350,000 share options in the Company to directors and other staff (the "Options") following a review of staff remuneration.    The Options awarded were intended to be awarded by the Board of Directors in Q1 2026 but due to the Company being in a close period were not able to be formally awarded until after the annual report was published.   The Options represent 3.31% of the current issued share capital of the Company. Following this award the total number of options in issue to current staff, directors and management is 29,816,667, which represents 6.9% of the total issued share capital. This total excludes 15,000,000 options awarded to CEO Tom Reynolds on his appointment, details of which were announced on 6 January 2026.   The last award of options (other than to Tom Reynolds) was in October 2024. The objective of this award is to align directors and staff with the target of delivering a liquidity event for shareholders.   The Options have been awarded with a strike price of 0.1p, being the nominal price of ordinary shares. The Options vest in three months' time on 20 September 2026 and are exercisable for a period of five years subject to the following conditions: 1.    a liquidity event for the Company accepted or approved by the shareholders; or 2.    failing which, after 31 December 2027 the VWAP is consistently above 7.5p per share for a period of 90 calendar days   The Options to be issued are set out below: William Smith 1,000,000 Simon Ashby-Rudd 1,000,000 Andrew Hay 1,000,000 Alasdair Buchanan 1,000,000 PDMR staff 2,500,000 Other non-PDMR staff 7,850,000 Total 14,350,000   Options currently held by directors prior to the award of the Options: Director No. Options Strike Price Expiry William Smith 900,000 5.00p 17/03/2027 900,000 8.15p 23/09/2027 370,000 12.25p 27/02/2028 300,000 7.00p 25/07/2028 400,000 6.40p 02/10/2029 Total 2,870,000 Alasdair Buchanan 900,000 5.00p 17/03/2027 900,000 8.15p 23/09/2027 370,000 12.25p 27/02/2028 300,000 7.00p 25/07/2028 400,000 6.40p 02/10/2029 Total 2,870,000 Andrew Hay 900,000 7.00p 25/07/2028 400,000 6.40p 02/10/2029 Total 1,300,000 Simon Ashby-Rudd          -     -             - Total          - Tom Reynolds 15,000,000 0.1p 01/01/2031 Total 15,000,000             Total Options 22,040,000       Directors' total options after this award: Director Number % of current share capital William Smith 3,870,000 0.9% Simon Ashby-Rudd 1,000,000 0.2% Alasdair Buchanan 3,870,000 0.9% Andrew Hay 2,300,000 0.5% Tom Reynolds 15,000,000 3.5% Total Directors 26,040,000 6.0%     This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.   * * ENDS * *   For further information visit www.prospex.energy or contact the following:   Tom Reynolds Prospex Energy PLC Tel: +44 (0) 20 7236 1177 Ritchie Balmer Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Andrew Monk (Corporate Broking) Andrew Raca (Corporate Finance) VSA Capital Limited Tel: +44 (0) 20 3005 5000 Neil Passmore Leif Powis Hannam & Partners Tel: +44 (0) 20 7907 8500 Ana Ribeiro / Charlotte Page St Brides Partners Limited  Tel: +44 (0) 20 7236 1177     PDMR Disclosures   The notifications below are made in accordance with the requirements of the UK Market Abuse Regulation.   1 Details of the person discharging managerial responsibilities / person closely associated a) Name William Smith 2 Reason for the notification a) Position/status Chairman b)   Initial notification /Amendment Initial notification 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Prospex Energy Plc b) LEI 213800NY9RH8O1B72D27 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 Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")    Identification code GB00BMFZVZ53 b) Nature of the transaction Grant of options c) Price(s) and volume(s) Exercise price: 0.1p Volume: 1,000,000 d) Aggregated information - Aggregated volume - Price N/A e) Date of the transaction 18 June 2026 f) Place of the transaction Outside of a trading venue     1 Details of the person discharging managerial responsibilities / person closely associated a) Name Simon Ashby-Rudd 2 Reason for the notification a) Position/status Non-Executive Director b)   Initial notification /Amendment Initial notification 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Prospex Energy Plc b) LEI 213800NY9RH8O1B72D27 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 Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")    Identification code GB00BMFZVZ53 b) Nature of the transaction Grant of options c) Price(s) and volume(s) Exercise price: 0.1p Volume: 1,000,000 d) Aggregated information - Aggregated volume - Price N/A e) Date of the transaction 18 June 2026 f) Place of the transaction Outside of a trading venue     1 Details of the person discharging managerial responsibilities / person closely associated a) Name Andrew Hay 2 Reason for the notification a) Position/status Independent Non-Executive Director b)   Initial notification /Amendment Initial notification 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Prospex Energy Plc b) LEI 213800NY9RH8O1B72D27 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 Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")    Identification code GB00BMFZVZ53 b) Nature of the transaction Grant of options c) Price(s) and volume(s) Exercise price: 0.1p Volume: 1,000,000 d) Aggregated information - Aggregated volume - Price N/A e) Date of the transaction 18 June 2026 f) Place of the transaction Outside of a trading venue     1 Details of the person discharging managerial responsibilities / person closely associated a) Name Alasdair Buchanan 2 Reason for the notification a) Position/status Independent Non-Executive Director b)   Initial notification /Amendment Initial notification 3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Prospex Energy Plc b) LEI 213800NY9RH8O1B72D27 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 Ordinary shares of 0.1p each in Prospex Energy plc ("Ordinary Shares")    Identification code GB00BMFZVZ53 b) Nature of the transaction Grant of options c) Price(s) and volume(s) Exercise price: 0.1p Volume: 1,000,000 d) Aggregated information - Aggregated volume - Price N/A e) Date of the transaction 18 June 2026 f) Place of the transaction Outside of a trading venue   Notes Prospex Energy plc is an AIM-quoted investing company focused on high-impact onshore and shallow offshore European opportunities with short timelines to production.  The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then apply low-cost re-evaluation techniques to identify and de-risk prospects.  The Company will rapidly scale up gas production in the short term to generate internal revenue, which can then be deployed to develop the asset base and further increase production.  

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