RNS Number : 1491O
Hurricane Energy PLC
25 January 2019
 

25 January 2019

Hurricane Energy plc

("Hurricane" or the "Company")

Award of Shares under the Share Incentive Plan

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that it received notification on 25 January 2019 that, following payroll contributions made on 25 January 2019, Global Shares Trustee Company Limited ("SIP Trustee"), trustee of the Hurricane Energy plc Share Incentive Plan ("SIP"), awarded 815,582 ordinary shares of £0.001 each in the Company ("Ordinary Shares") to participants in the SIP at a price of 45.86 pence per share, being the closing mid-market price on 24 January 2019.

The SIP award has been satisfied by the issue of 815,582 new Ordinary Shares to the SIP Trustee at a subscription price of £0.001 per share, being the nominal value of the shares.

Each participating employee will receive an allocation of Partnership Shares (being shares acquired at market value using contributions deducted from employees' pre-tax salaries; "Partnership Shares"), Matching Shares (being ordinary shares of twice the number of Partnership Shares acquired by an employee which are paid for by the Company; "Matching Shares") and Free Shares (being ordinary shares to a value not exceeding £3,600 in the current tax year, which are paid for by the Company; "Free Shares").

Under the SIP, the following persons discharging managerial responsibilities of the Company purchased or were awarded the following number of Ordinary Shares:

Name

Number of
Partnership Shares

Number of
Matching Shares

Number of
Free Shares

Dr Robert Trice

3,924

7,848

7,849

Alistair Stobie

3,924

7,848

7,849

Neil Platt

3,924

7,848

7,849

Richard Chaffe

3,924

7,848

7,849

Melissa Clare

3,924

7,848

7,849

Stephen Holmes

3,924

7,848

7,849

Daniel Jankes

3,924

7,848

7,849

Moira Slightam

3,924

7,848

7,849

Clive Smith

3,924

7,848

7,849

Richard Tomlins

3,924

7,848

7,849

 

Application has been made for 815,582 new Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place by 31 January 2019.  The shares will rank pari passu with the existing Ordinary Shares.

Following the SIP awards, Hurricane's total issued and voting share capital will comprise 1,960,367,219 Ordinary Shares.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

The below information is intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

a)   Dr Robert Trice

b)   Alistair Stobie

c)   Neil Platt

d)   Richard Chaffe

e)   Melissa Clare

f)    Stephen Holmes

g)   Daniel Jankes

h)   Moira Slightam

i)    Clive Smith

j)    Richard Tomlins

2.

Reason for the notification

a)

Position/status:

a)   Chief Executive Officer

b)   Chief Financial Officer

c)   Chief Operations Officer

d)   Head of Finance

e)   GWA Joint Venture Operations Manager

f)    Production Operations Director

g)   General Counsel

h)   Subsurface Technical Director

i)    General Manager (Aberdeen)

j)    Development and Engineering Technical Director

b)

Initial notification/Amendment:

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Hurricane Energy plc

b)

LEI:

2138007Z66OO4XWKM819

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 0.1p each in Hurricane Energy plc ("Shares")

ISIN: GB00B580MF54

b)

Nature of the transaction:

Acquisition of Shares by the SIP Trustee pursuant to the SIP.

c)

Price(s) and volume(s):

 

 

Price(s)

Volume(s)

a)

45.86p

19,621

b)

45.86p

19,621

c)

45.86p

19,621

d)

45.86p

19,621

e)

45.86p

19,621

f)

45.86p

19,621

g)

45.86p

19,621

h)

45.86p

19,621

i)

45.86p

19,621

j)

45.86p

19,621

d)

Aggregated information:

·      Price:

·      Volume:

 

45.86p

Volume: 196,210

e)

Date of the transaction:

25 January 2019

f)

Place of the transaction:

London Stock Exchange (XLON)

 

Contacts: 

Hurricane Energy plc

Dr Robert Trice (Chief Executive Officer) / Alistair Stobie (Chief Financial Officer)

 

+44 (0)1483 862 820

Stifel Nicolaus Europe Limited

Nominated Adviser and Joint Corporate Broker

Callum Stewart / Nicholas Rhodes / Ashton Clanfield

 

+44 (0)20 7710 7600

Morgan Stanley & Co. International plc

Joint Corporate Broker

Andrew Foster / Tom Perry / Alex Smart

 

+44 (0)20 7425 8000

Vigo Communications

Public Relations

Patrick d'Ancona / Ben Simons

 

+44 (0)20 7390 0230

[email protected]

 

 


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