Altona Energy Plc Board Changes and Grant of Options
November 23 2017 - 2:30AM
UK Regulatory
TIDMANR
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 Options over ordinary shares of
instrument 0.01 pence each
Identification code 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 Options over ordinary shares of
instrument 0.01 pence each
Identification code 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 Options over ordinary shares of
instrument 0.01 pence each
GB00B06GJT32
Identification code
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 Options over ordinary shares of
instrument 0.01 pence each
GB00B06GJT32
Identification code
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 +44 (0)7769 906 686
Nick Lyth, CEO
Leander (Financial PR) +44 (0)7795 168 157
Christian Taylor- Wilkinson
Northland Capital Partners Ltd (Nomad and +44 (0)20 3861 6625
Broker)
Matthew Johnson / Gerry Beaney (Corporate
Finance)
John Howes (Corporate Broking)
END
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