Pharos Energy
plc
("Pharos"
or "the Company")
DIRECTORS/PDMR
SHAREHOLDINGS
Grant of Awards under the
Company's Deferred Share Bonus Plan
The Company
announces that on 24 January 2025, its Executive Directors were
granted deferred bonus awards over ordinary shares of £0.05 each in
the Company ("Shares"), relating to a performance related annual
bonus earned for 2024, under the Pharos
Energy plc 2024 Deferred Share Bonus Plan (the "DSBP") as
follows:-
|
Director/PDMR
|
Position
|
No of Shares granted under
the DSBP
|
|
Katherine
Roe
|
Chief
Executive Officer*
|
265,304
|
|
Sue
Rivett
|
Chief
Financial Officer
|
425,634
|
*Appointed 1 July 2024
The number
of Shares granted is equivalent to the relevant proportion of the
2024 annual bonus deferred, calculated on the basis of the closing
middle market quotation (as derived from the Daily Official List)
on the dealing day immediately preceding the date of grant
(£0.2465). Subject to the rules of the DSBP, these Shares will
generally vest over two years from the date of grant.
For further information,
please contact:
Pharos Energy plc
Tel: 0207 7747 2000
Katherine Roe, Chief Executive
Officer
Sue Rivett, Chief Financial
Officer
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
|
KATHERINE
ROE
|
|
2
|
Reason for the
notification
|
|
a)
|
Position/status
|
Chief
Executive 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
|
Grant of
Shares under the Pharos Energy plc 2024 Deferred Bonus
Plan
|
|
c)
|
Price(s)
and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.00
|
265,304
|
|
|
d)
|
Aggregated
information
|
N/A single
transaction
|
|
e)
|
Date of the
transaction
|
24/01/25
|
|
f)
|
Place of
the transaction
|
Outside a
trading venue
|
|
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
|
Grant of
Shares under the Pharos Energy plc 2024 Deferred Bonus
Plan
|
|
c)
|
Price(s)
and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.00
|
425,634
|
|
|
d)
|
Aggregated
information
|
N/A single
transaction
|
|
e)
|
Date of the
transaction
|
24/01/25
|
|
f)
|
Place of
the transaction
|
Outside a
trading venue
|
