1 February 2024
Star Energy Group plc
("Star Energy" or the "Company")
Additional Listing
The Company announces that an
application has been made to the London Stock Exchange for a total
of 177,018 Ordinary Shares of 0.002p each (the "SIP Shares") to
trade on the AIM market of London Stock Exchange ("AIM") under the
Star Energy Group plc Share Incentive Plan ("SIP"). Subject to
admission, the SIP Shares will be held by Equiniti Share Plan
Trustees Limited (the "SIP Trustees").
The number of shares to be issued
under the SIP has been calculated with
reference to the mid-market closing price of 9.06p on 19 January
2024, in accordance with the rules of the SIP. The SIP Shares shall rank equally with the existing issued
shares of the Company. It is expected that admission to AIM will
become effective on or around 5 February 2024.
The issued share capital of the
Company following the above detailed issue of shares will be
128,688,429 Ordinary Shares; the number of deferred shares remains
303,305,534. The total number of voting rights in Star Energy will
be 128,688,429 Ordinary
Shares, which should 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 Star Energy under the Financial
Conduct Authority's Disclosure Guidance and Transparency
Rules.
Further details on the SIP are set
out in the appendix to this announcement.
ENQUIRIES
For further
information please contact:
Star Energy Group
plc Tel: +44 (0)20 7993 9899
Ann-marie Wilkinson, Chief of Staff.
Investec Bank plc
(NOMAD and Joint Corporate Broker) Tel: +44 (0)20 7597
5970
Virginia Bull/Chris Sim/Charles Craven
Canaccord Genuity
(Joint Corporate Broker) Tel: +44 (0)20
7523 8000
Henry Fitzgerald-O'Connor/James Asensio
Vigo Consulting
Tel: +44 (0)20 7390 0230
Patrick d'Ancona/Finlay Thomson/Kendall
Hill
APPENDIX
About the Star Energy
SIP
In 2013, the Company adopted an
Inland Revenue approved Share Investment Plan for all employees of
the Group. The scheme is a tax efficient incentive plan pursuant to
which all Company employees are eligible to subscribe for up to
GBP150 (or 10% of salary, if less) worth of Star Energy ordinary
shares per month. On a three-monthly basis, the Company matches
employees' monthly subscriptions on a 1-to-1 basis and, subject to
the Company having met pre-defined quarterly production targets,
will increase the matching element for that quarter to 2-to-1. To
receive their allocation of matching shares, employees must
ordinarily remain employed by the Company for a period of 3 years.
Shares issued under the SIP are held by the SIP
Trustees.
Under the SIP, during the vesting
period the recipient retains the voting rights and dividend rights
associated with the matching allocation shares however, is unable
to sell the shares until the vesting criteria have been
fulfilled. The matching allocation
shares will be issued to the Company's Employee Benefit Trust and
held until vesting conditions have been met. The participant retains the full rights over any subscription
shares.