Embargoed until
7.30am
23 November 2017
Altona Energy
plc
(“Altona” or the “Company")
Board Changes and
Grant of Options
Altona (AIM:ANR) is pleased to announce that it has appointed
current directors Nick Lyth and
Phil Sutherland to the roles of
Chief Executive and Operations Director (Australia) respectively. Mr Lyth and Mr
Sutherland will, at present, receive no additional remuneration for
these executive roles but have been granted new option packages to
reflect their increased responsibility.
The following share options have been granted to directors under
the Company’s existing share option scheme, created on 1 April
2016. The options to subscribe for ordinary shares will be
granted under two performance criteria detailed below. All
existing share options granted to directors or employees of the
Company will be cancelled or will have lapsed unexercised.
Share Price Performance
| Director |
Number of
options |
|
|
| Qinfu Zhang |
30 million |
|
|
| Phillip Sutherland |
45 million |
|
|
| Nicholas Lyth |
90 million |
Ma Chi |
15 million |
These options vest in three equal tranches, with the first
tranche vesting on the grant of the options, the second tranche on
the first anniversary after the date of grant and the balance
vesting on the second anniversary of the date of grant. The
exercise price is 0.5p per share and the options are exercisable
when the share price reaches a price of 2.5
pence per share for a consecutive 14 day period. The
exercise period is five years from the date of grant.
Operational Performance
| Director |
Number of
options |
|
|
| Qinfu Zhang |
17.5 million |
|
|
| Phillip Sutherland |
45 million |
|
|
| Nicholas Lyth |
22.5 million |
Ma Chi |
5 million |
These options vest in two equal tranches, with the first tranche
vesting on the announcement of the start of a drilling programme at
the Company’s Arckaringa project, and the second on the completion
of a pre-feasibility study at Arckaringa. The exercise price is
0.5p. The exercise period is five years from the date of
grant.
The options, if all are exercised, represent 14.8 per cent. of
the enlarged share capital following the placing announced earlier
today.
Related Party Transaction
The grant of the share options to the above directors
constitutes a related party transaction under AIM Rule 13.
The independent director, being Henry
Kloepper, having consulted with Northland Capital Partners
Limited, the Company's nominated adviser, considers that the grant
of the options are fair and reasonable in so far as the Company's
shareholders are concerned.
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 |
Nick Lyth |
| 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 |
Altona Energy Plc |
| b) |
Legal Entity Identifier |
2138002A5GU9BFS2I491 |
| 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 |
Options over ordinary
shares of 0.01 pence each
GB00B06GJT32 |
| b) |
Nature of the transaction |
Grant of options |
| c) |
Currency |
GBP |
| d) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
| Exercise price is 0.5p |
112,500,000 |
|
| e) |
Aggregated information
- Aggregated volume
- Price
- Aggregated total |
|
| f) |
Date of the transaction |
23 November 2017 |
| g) |
Place of the transaction |
London Stock Exchange, AIM |
| 1 |
Details of the person discharging
managerial responsibilities/person closely associated |
| a) |
Name |
Phil Sutherland |
| 2 |
Reason for the notification |
| a) |
Position/status |
Operations Director (Australia) |
| b) |
Initial notification /Amendment |
Initial Notification |
| 3 |
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor |
| a) |
Name |
Altona Energy Plc |
| b) |
Legal Entity Identifier |
2138002A5GU9BFS2I491 |
| 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 |
Options over ordinary
shares of 0.01 pence each
GB00B06GJT32 |
| b) |
Nature of the transaction |
Grant of options |
| c) |
Currency |
GBP |
| d) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
| Exercise price is 0.5p |
90,000,000 |
|
| e) |
Aggregated information
- Aggregated volume
- Price
- Aggregated total |
|
| f) |
Date of the transaction |
23 November 2017 |
| g) |
Place of the transaction |
London Stock Exchange, AIM |
| 1 |
Details of the person discharging
managerial responsibilities/person closely associated |
| a) |
Name |
Qinfu Zhang |
| 2 |
Reason for the notification |
| a) |
Position/status |
Executive Chairman |
| b) |
Initial notification /Amendment |
Initial Notification |
| 3 |
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor |
| a) |
Name |
Altona Energy Plc |
| b) |
Legal Entity Identifier |
2138002A5GU9BFS2I491 |
| 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 |
Options over ordinary
shares of 0.01 pence each
GB00B06GJT32 |
| b) |
Nature of the transaction |
Grant of options |
| c) |
Currency |
GBP |
| d) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
| Exercise price is 0.5p |
47,500,000 |
|
| e) |
Aggregated information
- Aggregated volume
- Price
- Aggregated total |
|
| f) |
Date of the transaction |
23 November 2017 |
| g) |
Place of the transaction |
London Stock Exchange, AIM |
| 1 |
Details of the person discharging
managerial responsibilities/person closely associated |
| a) |
Name |
Ma Chi |
| 2 |
Reason for the notification |
| a) |
Position/status |
Non-Executive Director |
| b) |
Initial notification /Amendment |
Initial Notification |
| 3 |
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor |
| a) |
Name |
Altona Energy Plc |
| b) |
Legal Entity Identifier |
2138002A5GU9BFS2I491 |
| 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 |
Options over ordinary
shares of 0.01 pence each
GB00B06GJT32 |
| b) |
Nature of the transaction |
Grant of options |
| c) |
Currency |
GBP |
| d) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
| Exercise price is 0.5p |
20,000,000 |
|
| e) |
Aggregated information
- Aggregated volume
- Price
- Aggregated total |
|
| f) |
Date of the transaction |
23 November 2017 |
| g) |
Place of the transaction |
London Stock Exchange, AIM |
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
-ends-
For further information, please visit www.altonaenergy.com or
contact:
Enquiries
Altona Energy
plc
Nick Lyth, CEO |
+44 (0)7769 906
686 |
Leander (Financial
PR)
Christian Taylor- Wilkinson |
+44 (0)7795 168
157 |
Northland Capital
Partners Ltd (Nomad and Broker)
Matthew Johnson / Gerry Beaney (Corporate Finance)
John Howes (Corporate Broking) |
+44 (0)20 3861
6625 |