Pharos
Energy plc
("Pharos"
or the "Company" or, together with its subsidiaries, the
"Group")
Increase in Director/PDMR
Shareholdings
The Company announces that, on 10 May
2024, its Executive Director and Persons Discharging Managerial
Responsibility ("PDMRs") increased their shareholdings pursuant to
the vesting of nil-cost share awards ("Awards") under the Company's
Deferred Share Bonus Plan 2014 ("DSBP") over ordinary shares of
£0.05 each in the Company ("Shares"), as set out in the table
below.
The Awards were originally granted in
2022 to vest and become exercisable after two years at nil cost in
respect of a proportion of the performance related annual bonus
earned in the 2021 financial year.
Director/
PDMR
|
Position
|
Grant Date
|
Awards
exercised*
|
Shares sold
to settle tax
liabilities
and associated costs arising
on exercise
|
Average Price
achieved
|
Shares Acquired and
held
|
Total
number
of Shares held following
transactions
|
% of Company's Issued Share
Capital (excluding treasury shares)
|
Sue
Rivett
|
Chief
Financial Officer
|
25 March
2024
|
145,431
|
68,491
|
£0.226207
|
76,940
|
368,981
|
0.088%
|
Jann
Brown
|
Chief
Executive Officer (PDMR)
|
25 March
2024
|
598,510
|
281,867
|
£0.226207
|
316,643
|
2,622,077
|
0.624%
|
*Includes accrued
dividends
The shares delivered to the
Directors under the DSBP are from those held by the Pharos employee
benefit trust to satisfy such Awards. There is therefore no
increase in the issued share capital of the Company as a result of
the vesting and exercise of these Awards.
For further
information, please contact:
Pharos Energy plc
Tel: 0207 603 1515
Tony Hunter, Company
Secretary
Notes to editors
Pharos Energy plc is an
independent oil and gas exploration and production company with a
focus on sustainable growth and returns to stakeholders, which is
listed on the London Stock Exchange. Pharos has production,
development and/or exploration interests in Egypt and Vietnam. In
Egypt, Pharos holds a 45% working interest share in the El Fayum
Concession in the Western Desert, with IPR Lake Qarun, part of the
international integrated energy business IPR Energy Group,
holding the remaining 55% working interest. The El Fayum Concession
produces oil from 10 fields and is located 80 km southwest of
Cairo. It is operated by Petrosilah, a 50/50 joint stock company
between the contractor parties (being IPR Lake Qarun and Pharos)
and the Egyptian General Petroleum Corporation (EGPC).
Pharos also holds a 45% working interest share in the North Beni
Suef (NBS) Concession in Egypt, which is located immediately south
of the El Fayum Concession. IPR Lake Qarun operates and holds the
remaining 55% working interest in the NBS Concession. In Vietnam,
Pharos has a 30.5% working interest in Block 16-1 which contains
97% of the Te Giac Trang (TGT) field and is operated by
the Hoang Long Joint Operating Company. Pharos' unitised
interest in the TGT field is 29.7%. Pharos also has a 25% working
interest in the Ca Ngu Vang (CNV) field located in Block 9-2, which
is operated by the Hoan Vu Joint Operating Company. Blocks
16-1 and 9-2 are located in the shallow water Cuu Long Basin,
offshore southern Vietnam. Pharos also holds a 70% interest in, and
is designated operator of, Blocks 125 & 126, located in the
moderate to deep water Phu Khanh Basin, north east of
the Cuu Long Basin, offshore central Vietnam.
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
SUE RIVETT
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Chief Financial Officer
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
PHAROS ENERGY PLC
|
b)
|
LEI
|
549300DDKLXYLLO4N524
|
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 £0.05
EACH
GB00B572ZV91
|
b)
|
Nature of the transaction
|
1. Exercise of nil-cost
share awards under the Company's Deferred Share Bonus Plan
2014.
2. Sale of a proportion
of the resulting shares to cover tax liabilities and associated
costs arising on exercise.
|
c)
|
Price(s) and volume(s)
|
Exercise
|
Price(s)
£0.00
|
Volume(s)
145,431
|
Sale
of proportion of resulting shares
|
Price(s)
£0.226207
|
Volume(s)
68,491
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Transaction type
|
Aggregated Volume(s)
|
Price(s)
|
Exercise of share awards
|
145,431
|
£0.00
|
Sale of a proportion of resulting shares
|
68,491
|
£15,493.14
|
e)
|
Date of the transaction
|
10/05/24
|
f)
|
Place of the transaction
|
X-LON
|
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
JANN BROWN
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Chief Executive Officer
(PDMR)
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
PHAROS ENERGY PLC
|
b)
|
LEI
|
549300DDKLXYLLO4N524
|
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 £0.05
EACH
GB00B572ZV91
|
b)
|
Nature of the transaction
|
3. Exercise of nil-cost
share awards under the Company's Deferred Share Bonus Plan
2014.
4. Sale of a proportion
of the resulting shares to cover tax liabilities and associated
costs arising on exercise.
|
c)
|
Price(s) and volume(s)
|
Exercise
|
Price(s)
£0.00
|
Volume(s)
598,510
|
Sale
of proportion of resulting shares
|
Price(s)
£0.226207
|
Volume(s)
281,867
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Transaction type
|
Aggregated Volume(s)
|
Price(s)
|
Exercise of share awards
|
598,510
|
£0.00
|
Sale of a proportion of resulting shares
|
281,867
|
£63,760.29
|
e)
|
Date of the transaction
|
10/05/24
|
f)
|
Place of the transaction
|
X-LON
|