Wentworth Resources PLC Long Term Incentive Plan Awards (0335I)
12 Avril 2022 - 8:01AM
UK Regulatory
TIDMWEN
RNS Number : 0335I
Wentworth Resources PLC
12 April 2022
PRESS RELEASE
12 April 2022
WENTWORTH RESOURCES PLC
("Wentworth" or the "Company")
Long Term Incentive Plan Awards
Wentworth Resources (AIM: WEN), the independent,
Tanzania-focused natural gas production company announces, further
to its 11 March 2022 announcement, that Katherine Roe, CEO, has
been awarded an option over 3,014,590 shares under the Company's
Long-Term Incentive Plan ("LTIP"). Following this award Katherine
will have options over a total of 9,328,899 shares in
Wentworth.
The award is subject to a three-year performance period, which
runs from 12 April 2022 to 11 April 2025 (the "Performance Period")
and the Vesting Date will be 12 April 2025. The award is also
subject to claw back and malus provisions for an additional two
years from vesting.
The performance condition for the award is 50% of the award is
subject to absolute Total Shareholder Return ("TSR") and the
remaining 50% of the award is subject to relative TSR measured
against a selection of constituent companies of the FTSE AIM
All-Share Energy Index ("AXOIG"). The percentage of the award that
will vest will be equal to the TSR at the end of the performance
period compared to a 16% compound annual growth rate in TSR over
the Performance Period with 25% of the award vesting if the TSR at
the end of the Performance Period has increased by an 8% compounded
annual growth rate and 100% of the award vesting if the TSR has
increased by a 16% compound annual growth rate. Should the TSR
increase between 8% and 16%, awards will vest on a linear sliding
scale between 25% and 100% and should the TSR at the end of the
Performance Period be below 8% no part of the award will vest.
Ends
Enquiries:
Wentworth Resources Katherine Roe, katherine.roe@wentplc.com
Chief Executive Officer +44 (0) 7841 087 230
AIM Nominated Adviser and
Joint Broker
Callum Stewart
Stifel Nicolaus Europe Ashton Clanfield
Limited Simon Mensley +44 (0) 20 7710 7600
Joint Broker
Richard Crichton
Peel Hunt LLP Alexander Allen +44 (0) 20 7418 8900
Communications Adviser
Sara Powell
FTI Consulting Ben Brewerton +44 (0) 20 3727 1000
About Wentworth Resources
Wentworth Resources plc (AIM: WEN) is a leading, domestic natural
gas producer in Tanzania with a core producing asset at Mnazi
Bay in the onshore Rovuma Basin in Southern Tanzania.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name KATHERINE ROE
--- -------------------------------------------------------------
2 Reason for the notification
---
a) Position/status CHIEF EXECUTIVE
--- --------------------------------------------------
b) Initial notification/Amendment INITIAL NOTIFICATION
--- --------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name WENTWORTH RESOURCES PLC
--- --------------------------------------------------
b) LEI 213800L172PPXRPJZM82
--- --------------------------------------------------
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 CONDITIONAL RIGHTS OVER ORDINARY SHARES
--- --------------------------------------------------
Identification code JE00BGT34J81
--- --------------------------------------------------
b) Nature of the transaction GRANT OF CONDITIONAL RIGHTS OVER ORDINARY SHARES
--- -------------------------------------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
--- -------------------------------------------------------------
GBP0.217 3,014,590
----------------------------------------------------------------- ------------------------
d) Aggregated information
--- --------------------------------------------------
Aggregated volume 3,014,590
--------------------------------------------------
Price GBP0.217
--------------------------------------------------
e) Date of the transaction 12 April 2022
--- --------------------------------------------------
f) Place of the transaction XOFF
--- --------------------------------------------------
Inside Information
The information contained within this announcement is deemed by
Wentworth to constitute inside information as stipulated under the
Market Abuse Regulation (EU) no. 596/2014 ("MAR") (as in force in
the UK and as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019). On the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
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END
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