Pharos
Energy plc
("Pharos"
or the "Company" or, together with its subsidiaries, the
"Group")
DIRECTORS/PDMR
SHAREHOLDINGS
Increase in Director
Shareholding
The Company announces that on 23
January 2025, Sue Rivett, its Chief Financial Officer increased her
shareholding pursuant to the exercise of vested awards ("Awards")
under the Company's Deferred Share Bonus Plan 2014 ("DSBP") over
ordinary shares of £0.05 each in the Company ("Shares").
The DSBP Awards exercised are set out
in the table below. The Awards were originally granted in 2023 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 2022 financial year.
|
Director
|
Grant Date
|
Awards
Vested/exercised
|
Shares sold to settle tax
liabilities and associated costs arising on
exercise
|
Aggregate Price
achieved
|
Shares Acquired and
held
|
Total number of Shares held
following transactions
|
% of Company's Issued Share
Capital (excluding treasury shares)
|
|
Sue
Rivett
|
13 January
2023
|
422,994
|
199,212
|
£0.243767
|
223,782
|
1,142,191
|
0.276%
|
For further
information, please contact:
Pharos Energy plc
Tel: 0207 603 1515
Tony Hunter, Company
Secretary
Camarco
Tel: 020 3757 4980
Billy Clegg |Georgia Edmonds |Violet
Wilson |Kirsty Duff
Notes to editors
Pharos Energy plc is an independent
energy 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. The first development lease on the NBS
Concession was awarded in September 2023 and production started in
December 2023. IPR Lake Qarun operates and holds the remaining 55%
working interest in the NBS Concession. In Vietnam, Pharos
currently 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 currently 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. Following the announcement
by Pharos in December 2024 of approval a five year extension to the
terms of the petroleum contracts for Blocks 16-1 and 9-2, together
with associated changes to fiscal terms and participating
interests, Pharos will hold a revised working interest in Block
16-1 (TGT) of 25.33% with effect from 8 December 2026 and a revised
working interest in Block 9-2 (CNV) of 20% with effect from 16
December 2027. 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
("SHARES")
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)
422,994
|
|
Sale
of proportion of resulting shares
|
|
Price(s)
£0.243767
|
Volume(s)
199,212
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Transaction type
|
Aggregated Volume(s)
|
Price(s)
|
|
Exercise of share awards
|
422,994
|
£0.00
|
|
Sale of a proportion of resulting shares
|
199,212
|
£48,561.31
|
|
e)
|
Date of the transaction
|
23/01/2025
|
|
f)
|
Place of the transaction
|
X-LON
|